Time to develop price quotes. A manufacturer of industrial wheels is losing many profitable orders because of
Question:
Time to develop price quotes. A manufacturer of industrial wheels is losing many profitable orders because of the long time it takes the firm’s marketing, engineering, and accounting departments to develop price quotes for potential customers. To remedy this problem, the firm’s management would like to set guidelines for the length of time each department should spend developing price quotes. To help develop these guidelines, 50 requests for price quotes were randomly selected from the set of price quotes made last year: the processing time (in days) was determined for each price quote for each department. Several observations are displayed in the next table. The price quotes are also classified by whether or not they were “lost” (i.e., whether or not the customer placed an order after receiving the price quote). SCNTST SWDEF WHEELS M02_MCCL3396_14_GE_C02.indd 138 29/09/2021 13:39 Supplementary Exercises 2.139–2.172 139 Restaurant Sales Units Evergreens 24 26 Clean Juice 44 105 Slapfish 21 21 Clean Eatz 25 46 Pokeworks 49 50 Playa Bowls 39 76 The Simple Greek 24 36 Melt Shop 20 19 Creamistry 24 60 Joella’s Hot Chicken 29 17 Eggs Up Grill 30 41 Dog Haus 39 50 Teriyaki Madness 41 63 Bluestone Lane 48 48 Original ChopShop 21 12 Rapid Fired Pizza 24 35 Ike's Love & Sandwiches 44 71 Vitality Bowls 37 77 Hawkers Asian Street Fare 22 7 Maple Street Biscuit Co. 39 33 Bulla Gastrobar 32 8 Duck Donuts 44 90 The Little Beet 23 12 Joe & The Juice 47 69 By Chloe 37 14 Sugarfire Smokehouse 39 15 Bibibop Asian Grill 44 37 Bubbakoo's Burritos 28 31 Dos Toros Taqueria 28 22 The Pizza Press 27 27 The Lost Cajun 20 26 Just Salad 42 38 Jeni's Splendid Ice Creams 42 44 Boqueria 27 7 Quickway Japanese Hibachi 22 25 Surcheros 22 20 Famous Toastery 40 27 Culinary Dropout 20 7 Condado Tacos 38 15 The Flying Biscuit Cafe 29 21 Blue Sushi Sake Grill 49 14 The Human Bean 47 97 Spitz Mediterranean Street Food 28 11 Tacos 4 Life 25 16 Pita Mediterranean Street Food 38 32 LA Crawfish 48 25 &pizza 45 35 Super Duper Burgers 39 16 StoneFire Grill 31 13 Gus's World Famous Fried Chicken 44 28 Source: www.restaurantbusinessonline.com as on January 30, 2021.
a. Construct a scatter plot for the data. Do you detect a trend?
b. Based on the graph, identify the two restaurants with the highest number of units sold. What were the sales in 2019 for these two restaurants?
Step by Step Answer:
Statistics For Business And Economics
ISBN: 9781292413396
14th Global Edition
Authors: James McClave, P. Benson, Terry Sincich