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Case: Young Professionals Magazine

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Kristin Bowden

on 25 January 2016

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Transcript of Case: Young Professionals Magazine

Austin Ballor, Kristin Bowden, & Emily Bullen MGT 512 Winter 2015
Descriptive statics
used to
summarize the data

Case:


Magazine,
From Chapter 8
Presenting quantitative descriptions in a
manageable form

A summary comparing real estate purchases,
Value of Investments
Number of Transactions
Broadband Access
Household income, and those with Children

Simplifying a sizeable amount of data in into a sensible summary

Confidence intervals for the
mean age

and
household income of subscribers
x – zα2sn, x + zα2sn
Sample size, n= 410
Mean, x= 30.11
Standard deviation, s= 4.024
zα2 for 95% confidence= 1.96



The 95% confidence interval for
the mean score is given as:

30.11−1.96×4.024410, 30.11+1.96×4.024410 =30.11−0.3895, 30.11+0.3895
=(29.7205, 30.4995)

The 95% confidence interval for the
mean household income
of subscribes is given as:


x – zα2sn, x + zα2sn

The 95% confidence interval for the
mean household income
of subscribes is given as:

x – zα2sn, x + zα2sn

Sample size, n= 410
Mean, x= 74459.51
Standard deviation, s= 34818.21
zα2 for 95% confidence= 1.96

The 95% confidence interval for the mean score is given as:

74459.51−1.96×34818.21410, 74459.51+1.96×34818.21410
=74459.51−3370.316, 74459.51+3370.316

=(71089.19, 77829.83)

The confidence interval for: Subscribers
who have broadband access at home and the
proportion that have children:

Confidence interval for the proportion of subscribers who have broadband access at home:

𝑝±𝑧1−𝛼2 𝑝1−𝑝𝑛

p represents the proportion of success= 0.6244
n represents sample size= 410

𝑍1−𝛼2𝑓𝑜𝑟 95% confidence level=1.96

The required Confidence Interval is:
𝑝
p±𝑧1−𝛼2 𝑝1−𝑝𝑛=0.6244±1.960.6244(1−0.6244) 410=0.6244±0.0469


The confidence interval for
the proportion of subscribers
who have children:

𝑝±𝑧1−𝛼2 𝑝1−𝑝𝑛


p represents the proportion of success= 0.5341
n represents sample size= 410

𝑍1−𝛼2𝑓𝑜𝑟 95% confidence level= 1.96

The required Confidence Interval:
𝑝±𝑧1−𝛼2 𝑝1−𝑝

=0.5341±1.960.5341(1−0.5241)
410=0.5341±0.0483





Would Young Professional
be a good advertising outlet
for online brokers?


The Young Professional
won’t
be a good advertising outlet for online brokers.

The average or mean number of transactions in stocks, bonds or mutual funds made in the last year by subscribes is
5.97, which is low.


Would this magazine be a good place
to advertise for companies selling educational software and computer games for young children?

This magazine
would
be a good place to advertise for companies selling educational software and computer games for young children.







The proportion of subscribes having children (0.5341)
or having Internet access at home (0.6244)
is relatively
higher
as compared to those
who don’t have it.


Articles of interest
to Young Professionals




• Minimal disposable income
• Evaluating long-term goals
• Prioritize essential expenses, versus
discretionary expenses
• Retirement fund at a young age
• Understanding personal finance
• First home, is it an investment
Full transcript