Language of business statistics/analytics

Dsc 211

Below are examples of Supporting a conclusion/recommendation using the Language of business statistics/analytics for your consideration as you are answering the essay question relative to a lab question.

The printing company has an agreement with his supplier that he is to return a shipment that is 10 percent or more defective. Should this morning’s shipment be returned? Explain your assertion using the language of statistics and analytics

Example Answer 1: No the company shouldn’t return the cups. It says to return the cups if they are 10% or more defective, but from the sample the defective rate is only .05. The confidence interval is from .025 to .075 which means that the probability the cup will be functioning is very high. There is no need for the company to return the shipment.

Example Answer 2: There is a possibility that the shipment should be returned because the margin of error allows the number of defects to reach over .1 while the estimated number of defects is about 7% of the shipment with a 95% confidence level. Since the z score is rather high at 95% there is no guarantee that the shipment will have the right number of defects

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