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Updated on: 24 Oct 2023, 04:57
Originally posted by Sajjad1994 on 23 Jan 2020, 11:34.
Last edited by BottomJee on 24 Oct 2023, 04:57, edited 2 times in total.
Last edited by BottomJee on 24 Oct 2023, 04:57, edited 2 times in total.
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To: Regional Office Managers
From: Chief Operations Officer
RE: Travel planning
Once again, our annual management retreat will be held in Bloomsbury. In preparation for this year’s retreat, all Regional Office Managers (ROMs) will be responsible for arranging the travel reservations for all Level 2 managers within his or her Region. You may delegate that task should you wish.
ROMs will receive a research memorandum from the Logistics Division providing the average (arithmetic mean) airfare from the 6 Regions to Bloomsbury. While ROMs should use that average airfare as a guide, we anticipate that there may be some variation in ticket prices based upon the specifics of travel arrangements. As such, Regional offices will be reimbursed for the full cost of any plane ticket priced within 1 (one) standard deviation of the average airfare from its region to Bloomsbury, inclusive. For any ticket priced more than 1 (one) standard deviation above the mean, regional offices will be reimbursed up to the average airfare from your region to Bloomsbury. For any ticket priced 1 (one) standard deviation or more below average, in addition to full reimbursement of the ticket cost, regional offices will receive a “Budget Bonus” of 50% of the difference between the ticket price and the average airfare from your region to Bloomsbury.
From: Chief Operations Officer
RE: Travel planning
Once again, our annual management retreat will be held in Bloomsbury. In preparation for this year’s retreat, all Regional Office Managers (ROMs) will be responsible for arranging the travel reservations for all Level 2 managers within his or her Region. You may delegate that task should you wish.
ROMs will receive a research memorandum from the Logistics Division providing the average (arithmetic mean) airfare from the 6 Regions to Bloomsbury. While ROMs should use that average airfare as a guide, we anticipate that there may be some variation in ticket prices based upon the specifics of travel arrangements. As such, Regional offices will be reimbursed for the full cost of any plane ticket priced within 1 (one) standard deviation of the average airfare from its region to Bloomsbury, inclusive. For any ticket priced more than 1 (one) standard deviation above the mean, regional offices will be reimbursed up to the average airfare from your region to Bloomsbury. For any ticket priced 1 (one) standard deviation or more below average, in addition to full reimbursement of the ticket cost, regional offices will receive a “Budget Bonus” of 50% of the difference between the ticket price and the average airfare from your region to Bloomsbury.
No region had a lower average (arithmetic mean) airfare to Bloomsbury than the Midwest.: Yes
Only Level 2 managers will attend the management retreat.: No
The Regional Office Manager need not make the reservations personally.: Yes
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
65%
(hard)
Question Stats:
48% (03:10) correct
52%
(03:02)
wrong
based on 1025
sessions
History
Date
Time
Result
Not Attempted Yet
1. Consider each of the following statements. Select Yes if the information contained in the two memoranda and the email support the inference as stated. Otherwise, select No.
| Yes | No | |
| No region had a lower average (arithmetic mean) airfare to Bloomsbury than the Midwest. | ||
| Only Level 2 managers will attend the management retreat. | ||
| The Regional Office Manager need not make the reservations personally. |
ShowHide Answer
Official Answer
No region had a lower average (arithmetic mean) airfare to Bloomsbury than the Midwest.: Yes
Only Level 2 managers will attend the management retreat.: No
The Regional Office Manager need not make the reservations personally.: Yes
The West Region will receive a “Budget Bonus” of $450.: True
The two regions with the least sample size also had the least difference between the most and least expensive airfare found during research.: False
The combined mean airfare of all the researched regions is less than the mean airfare for three of the regions individually.: True
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
95%
(hard)
Question Stats:
33% (03:16) correct
67%
(03:24)
wrong
based on 855
sessions
History
Date
Time
Result
Not Attempted Yet
2. Consider each of the following statements. Based upon the information contained in the two memoranda and the email, determine whether each statement is true or false as stated.
| True | False | |
| The West Region will receive a “Budget Bonus” of $450. | ||
| The two regions with the least sample size also had the least difference between the most and least expensive airfare found during research. | ||
| The combined mean airfare of all the researched regions is less than the mean airfare for three of the regions individually. |
ShowHide Answer
Official Answer
The West Region will receive a “Budget Bonus” of $450.: True
The two regions with the least sample size also had the least difference between the most and least expensive airfare found during research.: False
The combined mean airfare of all the researched regions is less than the mean airfare for three of the regions individually.: True
\(\frac{11}{15}\)
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
35%
(medium)
Question Stats:
67% (01:17) correct
33%
(01:35)
wrong
based on 649
sessions
History
Date
Time
Result
Not Attempted Yet
3. If one of the tickets purchased by the West Region’s Level 2 managers were selected at random, what is the probability that it is eligible to be fully reimbursed?
| \(\frac{4}{15}\) | |
| \(\frac{9}{15}\) | |
| \(\frac{11}{15}\) | |
| \(\frac{12}{15}\) | |
| \(\frac{14}{15}\) |
ShowHide Answer
Official Answer
\(\frac{11}{15}\)
Attachment:
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Attachment:
11.jpg [ 59.17 KiB | Viewed 11339 times ]
23 Jan 2020, 13:25
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1)Yes,since Westland has the lowest sample size and lowest corresponding mean
No,since it is not written anywhere that only L2 managers will go for retreat
Yes,since HR and other teams are also supporting in the booking
2)a)Yes,since the difference between the Avg and 1 SD is 175, so tickets worth 150 will be under the budget bonus,hence the total budget bonus will be (175-150)*18(Number of tickets)= 450$
b)No,this is not the case here
c)Yes the mean is 45.83 and is less than mean of three individual regions
3) Tickets within 1 SD of mean are fully reimbursed ,so per the chart 3 the tickets worth 150$ & 210$ will be fully reimbursed,so the probability is (18+4)/(18+4+8)= 11/15
Posted from my mobile device
No,since it is not written anywhere that only L2 managers will go for retreat
Yes,since HR and other teams are also supporting in the booking
2)a)Yes,since the difference between the Avg and 1 SD is 175, so tickets worth 150 will be under the budget bonus,hence the total budget bonus will be (175-150)*18(Number of tickets)= 450$
b)No,this is not the case here
c)Yes the mean is 45.83 and is less than mean of three individual regions
3) Tickets within 1 SD of mean are fully reimbursed ,so per the chart 3 the tickets worth 150$ & 210$ will be fully reimbursed,so the probability is (18+4)/(18+4+8)= 11/15
Posted from my mobile device
31 Oct 2020, 01:22
Kudos
Bookmarks
Did anyone ever get a clear answer for Item 11 Pt 3?
The combined mean airfare of all the researched regions is less than the mean airfare for three of the regions individually.
It seemed unclear and if you choose 3 of the highest mean averages, it is true. however if you choose the lowest of the 3 mean averages, it is false....
The combined mean airfare of all the researched regions is less than the mean airfare for three of the regions individually.
It seemed unclear and if you choose 3 of the highest mean averages, it is true. however if you choose the lowest of the 3 mean averages, it is false....
