Binomial Probability Distribution: A Case Study of HotelsByUs Scenario An interactive survey for HotelsByUs asked respondents, “When travelling internationally, do you generally venture out on your own to experience the local culture, or stick with your tour group and itineraries?” The survey found that 23% of the respondents stick with their tour group. Question 1: […]
Descriptive Statistics in Action: A Case Study of Bongi’s Burger Scenario Bongi, the owner of Bongi’s Burgers, is having trouble deciding how to purchase the tomato sauce and mustard for the restaurant for each month during 2024. He decides to look at his records to see how many of each item were used each month
Unlock the Power of Descriptive Statistics for Bongi’s Burgers: 8 Answers for Success Read More »
Walmart employs a multichannel retail strategy to serve its diverse customer base globally. These channels are designed to maximise convenience, accessibility, and customer satisfaction. Walmart has implemented blockchain technology to enhance its supply chain operations, particularly in food safety and traceability. Collaborating with IBM, Walmart utilised the Hyperledger Fabric blockchain platform to create a transparent
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The manager of a real estate company hires an IMM graduate to do some market research. Research outcomes indicate that there is an average of 5 out of 10 houses sold within in a month after a client went to view the property. Question 1: What type of probability distribution applies to this scenario? Why
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A commercial property developer is looking at building a new shopping centre in Johannesburg. He hired a research firm to help him identify whether it will be profitable for him. They began by analysing the store space available in 20 shopping centres in Johannesburg. The following data summarises the results recorded: 115; 210; 108; 203;
Descriptive Statistics: The Store Space Read More »
The following data set represents the monthly salaries of air hostesses from 10 different airlines in South Africa: 23.5; 33.1; 18.2; 56.2; 29.6; 44.3; 38.3; 26.3; 22.6; 27.8 Question 1: Calculate the mean salary of the air hostesses. The formula for calculating the mean salary is as follows: $$ \text{Mean} = \frac{23.5 + 33.1 +
Descriptive Statistics: The Monthly Salaries Read More »
