A Company Uses A “Just In Time” Inventory Management System: Economics And Business Statistics, UWA, Australia
|University||University of Western Australia|
|Subject||Economics And Business Statistics|
A company uses a “Just in Time” inventory management system and so the speed at which their suppliers get them parts can be critical. They need to find a supplier who can deliver within 4 working hours on average. They currently use a particular supplier (“Speedy Supplies”) and wish to compare their performance with 3 other potential suppliers (“Pronto Provider”, “Express Envoy” and “Dashing Deliveries”).
Over the last few months, every time they need to place an order they select one of the four companies at random with which to place the order and then time the number of business hours until the item arrives.
You have been asked to analyze the data using ANOVA methodology and to answer the questions below, which primarily concern finding the quickest out of the 4 suppliers. The data is to be downloaded and a link has been provided to you on a separate piece of paper. You need to download this data now and read it into R Commander. Before you go any further, please ensure that nothing has gone wrong with the data read-in process. You will have also been provided with summary statistics for the data – make sure they match with the summary statistics for what you have read into R Commander.
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1. Define relevant mean parameters and state the appropriate null and alternative hypotheses to be tested here.
2. What is the distribution of the test statistic? What is its observed value?
3. What is the relevant p-value for this analysis?
4. Perform the hypothesis test at a 5% level of significance and state your conclusion to this ANOVA analysis.
5. Imagine for a different analysis, someone produces the following residual plot. Which assumption of ANOVA does this plot help us verify? Explain what our decision would be (and why) regarding this assumption.
6. Produce the equivalent residual plot for the test data and sketch it in the space below. Explain whether or not this assumption has been met for the test data?
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