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Problem 17502:
Do not include anything other than numbers in your responses. For example, do not include comma or dollar sign in your numbers. As a rule of thumb, keep 2 decimal places for larger numbers and 3 decimal places for smaller numbers less than 1.
The product we make is a type of glue. We are advertising that our glue dries very fast. To monitor the quality of the produced glue, we record the time it takes for the glue to dry for each batch of glue we make. The following table summarizes the data we collected during the last 4 days. In each day, we produced 3 batches of glue and recorded the time of each batch. All values are in minutes. We know the standard deviation of the process is approximately 0.15 minutes.
Time for the glue to dry:

Sample Batch 1 Batch 2 Batch 3
1 6.88 7.68 7.67
2 7.18 6.73 6.87
3 7.6 6.97 7.68
4 7.16 7.08 7.52

Calculate the center line to control the average of the time it takes for the glue to dry:
Calculate the average of ranges to control the variability of the time it takes for the glue to dry:
Number of observation in each sample (n):
D4:

 
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a) “People’s Republic of China is a single-party state, governed by the Communist Party;China’s economy remains “mostly unfree” and the legal and regulatory system isvulnerable to political influence and Communist Party directives. Anyone doing businessin China is likely to encounter or hear of corruption in one form or another. Historically,practices such as facilitation payments, bribes and giving and receiving expensive gifts inorder to develop relationships were often regarded as a part of doing business in China.
Briefly discuss what are the possible political, legal, and regulatory influences thatinternational marketers may face when doing business in a country like China.* Subject – International Marketing
 
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Qa) “People’s Republic of China is a single-party state, governed by the Communist Party;

China’s economy remains “mostly unfree” and the legal and regulatory system is
vulnerable to political influence and Communist Party directives. Anyone doing business
in China is likely to encounter or hear of corruption in one form or another. Historically,
practices such as facilitation payments, bribes and giving and receiving expensive gifts in
order to develop relationships were often regarded as a part of doing business in China.

Briefly discuss what are the possible political, legal, and regulatory influences that
international marketers may face when doing business in a country like China.

* Subject – International Marketing

 
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The coconut oil demand function (Buschena and Perloff, 1991) is

Q = 1,200 – 9.5p + 16.2pp + 0.2Y,

where Q is the quantity of coconut oil demanded in thousands of metric tons per year, p is the price of coconut oil in cents per pound, is the price of palm oil in cents per pound, and Y is the income of consumers. Assume that p is initially 45¢ per pound, pp is 31¢ per pound, and Q is 1,275 thousand metric tons per year. Calculate the income elasticity of demand for coconut oil. (If you do not have all the numbers necessary to calculate numerical answers, write your answers in terms of variables.)

 
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