R&R Introduction of Case Study Bob Reiss in 1983 observed with interest the success in the Canadian market of new game board called “Trivial Pursuit”, The sale of the game in the US tended to be approximately ten times those of sales in Canada since “Trivial Pursuit” had sold 100,000 copies.Now Reiss thought game make a boom in US market and this make a profitable opportunity for him. You can unsubscribe at any time. This is known as Census or Complete Enumeration and the ‘totality’ is known as Population. Here, we assume that sales follow normal distribution with mean µ (unknown) and standard deviation σ (known). So, the Hypotheses: H0: µ1= µ2 (Where, µ1= Population Mean Sale of Quarter-I and µ2 = Population Mean Sale of Quarter-II), H1: µ1< µ2 (representing the increase of sales i.e. Here, we take an example of Testing of Mean: This step is used to define the problem after considering the business situation and deciding the relevant hypotheses H0 and H1, after mentioning the hypotheses in the business language. At most, Hypotheses may be rejected or retained. It has settled down after fluctuations in the first two months due to the changeover. Download PDF . Hypothesis Testing: Hypothesis testing a rule or statistical process that may be resulted in either rejecting or failing to reject the null hypothesis (H0). Type I Error is also known as False Positive and Type II Error is also known as False Negative in the language of Business Analytics. One Sample Test Table shows the result of the t-test. Normally, the value of α is taken as 5% in most of the analytical situations (Fisher, 1956). For example, if we want to estimate average sales of 1000+ outlets of a retail chain and we have taken a sample of 40 outlets and sample mean (estimator) x̄ is 40000. X’s output for the month is the total of these sums assured, £61,500. Higher the standard error, higher is the variation among different possible values of statistics. As discussed, hypothesis testing means deciding a rule for rejection/retention of H0. WordPress website developed as part of a, Here are just a few examples of how Solutions for HR has helped. Download PDF. So, we have to figure out whether we should go for ‘equal variance’ case or for ‘unequal variances’ case. β = Probability of committing Type II error = P [Fails to reject H0 / H0 is false]. Normally α is fixed and we try to minimise β. Power of the test = 1- β = P [Reject H0 / H0 is false]. The data collated is given in Luggage.csv file. Harvard Case Studies Lamson Corp R Case Study Solution & Analysis In most courses studied at Harvard Business schools, students are provided with a case study. Suppose from a sample, we get a value of sample mean x̄=73. Suppose, we want to test the claim that the average quarterly sale of the executive is 75k vs sale is below 75k. Buy Now. You can easily search for a related questions in a category. Here, α may be known as Significance Level, the level at which hypothesis testing is performed. Life Insurance companies typically measure the monthly output of a salesperson as the total sum assured for the policies sold by that person during the month. In the last decade Heineken have significantly increased μ1 = Average sums assured by salesperson BEFORE changeover. The test statistic will follow F-distribution with (n1-1) df for numerator and (n2-1) df for denominator. (Source: The 2014 Digital Marketer, available at ex.pn/1kXJifX.) The result for the time spent per day accessing the Internet via a mobile device (in minutes) are stored in Internet_Mobile_Time.csv file. (σ) by sample s.d. P-value = 0.64992.c. IBM Corporation. Before going into details, we should be clear about certain terms and concepts that will be useful: Parameters are unknown constants that effectively define the population distribution, and in turn, the population, e.g. If we minimize one, the other will increase and vice versa. The Student’s t-distribution, is much similar to the normal distribution. A sample of size ‘n’ has been drawn for a normal population N (µ, σ), but population standard deviation σ is unknown, so in this case σ will be estimated by sample standard deviation(s). So, the corresponding statistic is = (x̄1 – x̄2). When x̄ is significantly different (significantly higher or lower than) from the hypothesised population mean µ0, then H0 will be rejected. Levin, R. I.; Rubin, D. S; Siddiqui, M. H. & Rastogi, S. (2017). As per the following output table (Paired Samples Test), sample mean of differences d̅ = -0.417 with standard deviation of differences sd = 8.011 and value of t statistic = -0.403. z-test – Hypothesis Testing of Population Mean when Population Standard Deviation is known: Hypothesis testing in R starts with a claim or perception of the population. t=  (x- µx̄x)/σ x̄ = (x- µ0)/(s/√n) follows Student’s t distribution with (n-1) degrees of freedom. Describe the five per cent significance test you would apply to these data to determine whether the new scheme has significantly raised outputs? His area of expertise is Business Analytics, Multivariate Data Analysis, Decision Modeling, Soft Operations research etc. 2. © 2020 Solutions for HR. What assumption about the population distribution is needed to conduct the test in A? Null Hypothesis (H0): Hypothesis to be tested is known as Null Hypothesis (H0). So, it may be mentioned that the level of significance (α) is the maximum threshold for p-value. Two samples of size n1 and n2 have been taken randomly from the two normal populations respectively and the corresponding sample means are x̄1 and x̄2. In general Student’s t distribution is flatter i.e. Here, we consider the example of Ventura Sales, and want to examine the perception that average sales in the first quarter is 75 (thousand) vs it is not. Google+. This concept is known as Statistical Inference. Two Sample t-testdata:  WingA and WingBt = 5.1615,df = 38,p-value = 4.004e-06alternative hypothesis: true difference in means is greater than 095 percent confidence interval:1.531895   Infsample estimates:mean of x mean of y 10.3975 8.1225> t.test(WingA,WingB)   Welch Two Sample t-test, t = 5.1615, df = 37.957, p-value = 8.031e-06alternative hypothesis: true difference in means is not equal to 095 per cent confidence interval:1.38269 3.16731sample estimates:mean of x mean of y 10.3975 8.1225. Sampling distribution of sample proportion p =x/n (where x = Number of success out of a total of n) will follow Normal Distribution with mean µp = P and standard error σp = √(PQ/n), (where Q = 1-P). Here, the claim is that urban outlets are giving lower sales as compared to rural outlets. Weekend challenge #11. Rent the Runway is a Harvard Business (HBR) Case Study on Innovation & Entrepreneurship , Fern Fort University provides HBR case study assignment help for just $11. R&R case study solution, R&R case study analysis, Subjects Covered Capital costs Development stage enterprises Entrepreneurship by Howard H. Stevenson, Jose-Carlos Jarillo Mossi Source: HBS Premier Case … Hence, less will be the confidence that we may place on the value of the statistic for estimation purposes. Search Paper on caseforest database. Here, the difference between the sample mean and hypothesised population mean is too large. Topics: Trivia, Trivial Pursuit, Game Pages: 4 (1343 words) Published: August 23, 2013. t =  {(x̄1 – x̄2) – (µ1– µ2)}/{√ (s21/n1 +s22/n2)}. Even if the population is not following the Normal Distribution but for a large sample (n = large), the sampling distribution of x̄ will approach to (approximated by) normal distribution with mean µx̄ = µ and standard error σx̄ = σ/√n, as per the Central Limit Theorem. Home ; About Us; Meet the Team; Services; FAQ; Help; Upload Case Files; Pricing; Select Page. This is known as the problem of Estimation. Titan’s new scheme is that the sales force receives low regular salaries but are paid large bonuses related to their output (i.e. (b)  What is the p-value of the hypothesis test if we test for a difference of $5000? Analyze the data and determine whether there is a difference in the mean delivery times in the two wings of the hotel. Depending on method of collection data for the two samples, samples may be termed as independent or dependent samples. A large number of samples may be drawn from a population. Paired t-Test (Testing Difference between Means with Dependent Samples): We continue with the example of Ventura Sales, and want to compare the average first quarter sales with the second quarter sales. H0 should be retained. Here, Levene’s Test for Equality of Variances has to be applied for this purpose with the hypotheses: H 0: σ² 1 = σ² 2 and H 1: σ² 1 ≠ σ² 2.The p-value (Sig) = 0.460 >0.05, so we can’t reject (so retained) H 0.Hence, variances can be assumed to be equal. A long-running love requires a lot of commitment and a lot of emotional investment from the audience. If p-value is small, it means there are less chances (rare case) in favour of H0 occuring, as the difference between a sample value and hypothesised value is significantly large so H0 may be rejected, otherwise it may be retained. This article makes you familiar with some methods to solve a case study in Management. If Type I error is critical, α is fixed at a low value (allowing β to take relatively high value) otherwise at relatively high value (to minimise β to a low value, Type II error being critical). HA: μ1 < μ2   ; μ2 – μ1 > 0 ; true difference of means is greater than zero. R & R Case Study Solution Rationale and Discussion on R&R Bob Rises is a graduate of Harvard University in 1956, he worked for a company that made stationary products. μ1 = Average sums assured by salesperson BEFORE changeover. σ is not known (it is a very common situation in all the real life business situations), we estimate population s.d. Experience Marketing Services reported that the typical American spends a mean of 144 minutes (2.4 hours) per day accessing the Internet via a mobile device. H0: µ = µ0  or µ ≤ µ0  or µ ≥ µ0  (here, the first one is Simple Hypothesis, rest two variants are composite hypotheses), (Here, all three variants are Composite Hypothesis). So, the corresponding Test Statistics will be: Other things remaining the same as per the One Sample Tests (as explained earlier). This belongs to the Confirmatory Data Analysis, as to confirm or otherwise the hypothesis developed in the earlier Exploratory Data Analysis stage. Here, the difference is too small to reject the claim under H0 since the chances (probability) of happening of such a random sample is quite large so we will retain H0. Everything else in the testing process remains the same. For this purpose, F test can be employed as: Two samples of sizes n1 and n2 have been drawn from two populations respectively. Sunday, November 29th, 2020 : Ogden: Olesen: 75th Street: Dawn: 5:35 AM: 5:35 AM: 5:35 AM: Fajr: 6:15 AM: 6:15 AM: 6:15 AM: Dhuhr If two samples are drawn independently without any relation (may be from different units/respondents in the two samples), then it is said that samples are drawn independently. While performing Hypothesis-Testing, Hypotheses can’t be proved or disproved since we have evidence from sample (s) only. CASE STUDY 10 SOLUTION BY A PRODUCT MANAGEMENT ASPIRANT. Shape of t distribution changes with degrees of freedom (exact distribution) and becomes approximately close to Normal distribution for large n. In many business decision making situations, decision makers are interested in comparison of two populations i.e. Solution contributed by Ananya Nandan and Munmun Mohanty. inferring about the population on the basis of a sample. In this case test statistic Z = (x- µ0)/(σ/√n)  ~ Standard Normal Distribution N (0, 1). it didn’t result in significant increase in sales, provided all other extraneous factors remain the same. If sample statistics is used to estimate the population parameter, then in that situation that is known as the Estimator; {like sample mean (x̄) to estimate population mean µ, sample proportion (p) to estimate population proportion (P) etc.}. The new scheme has NOT significantly raised outputs. The probability distribution of the sample statistic is known as sampling distribution of sample statistic. Solution: Probability of Type I error = significant level = 0.05 or 5%. With α = 0.05 and df = 29, critical value for t statistic (or t_critical ) will be   1.699127. (c)   Power of the test:Solution:2.a. Here, Levene’s Test for Equality of Variances has to be applied for this purpose with the hypotheses: H0: σ²1 = σ²2 and H1: σ²1 ≠ σ²2. Here are just a few examples of how Solutions for HR has helped. This is better known as Sampling distribution of the sample statistic. If this figure is an alternative hypothesis, what is:(a)  The probability of a type 1 error? It identifies the issues or gap between the current and desired type of the organization, and thus requires to be stated in order for the management to look for change. Since p-value (=0.06529) is higher than 0.05, we accept (fail to reject) NULL hypothesis. Table 1 shows the outputs of the salespeople in Table 1. Problem 2Suppose it has been calculated that for Titan to break even, the average output must increase by £5000. The client identified that in taking on the existing staff they would be overstaffed by 19 employees. R&R Case Solution Case Solution. Students are not sure about which method they have to follow. The below table is the Independent Sample Test Table, proving all the relevant test statistics and p-values. Let  μ2 = Average sums assured by salesperson AFTER changeover. μ1 = Average sums assured by salesperson BEFORE changeover. Hence, H0 will be rejected if for  ̅ ≥ 4368.176, Probability (type II error) is P(Do not reject H0 | H0 is false), Our NULL hypothesis is TRUE at μd = 0 so that  H0: μd = 0 ; HA: μd > 0, Probability of type II error at μd = 5000, = P (Do not reject H0 | μd = 5000)  = P (̅ < 4368.176 | μd = 5000), Free Course – Machine Learning Foundations, Free Course – Python for Machine Learning, Free Course – Data Visualization using Tableau, Free Course- Introduction to Cyber Security, Design Thinking : From Insights to Viability, PG Program in Strategic Digital Marketing, Free Course - Machine Learning Foundations, Free Course - Python for Machine Learning, Free Course - Data Visualization using Tableau.

r case study with solution

Glass Bakeware In Oven, Best Hotels In Downtown Chicago, Deep Reinforcement Learning Applications, Agitator Vs Impeller Which Is Better, Hp Pavilion X360 I3 8th Gen Price Philippines, Nam Khao Recipe House Of Xtia, Bdo Lonely Palieva Amity Game, Avocado Hair Mask Benefits, Where Is John Pike Now, Australia Cricket Logo,
r case study with solution 2020