SCENARIO 13-14-B
You Are the CEO of a Dairy Company

question 83

Short Answer

SCENARIO 13-14-B
You are the CEO of a dairy company. You are planning to expand production by purchasing
additional cows, lands and hiring more workers. From the existing 50 farms owned by the company,
you have collected data on total milk production (in liters) and the number of milking cows. The data
are shown below and also available in the Excel file Scenario13-14-DataB.XLSX. $$\begin{array} { r r r r r r r r r r r } \text { MILK } & 84686 & 101876 & 103248 & 70508 & 76072 & 86615 & 87508 & 105195 & 120351 & 68658 \\& 85478 & 91902 & 110374 & 125364 & 159401 & 102883 & 113151 & 133297 & 140073 & 145434 \\& 152513 & 128275 & 138040 & 161276 & 208079 & 224119 & 231071 & 122114 & 132222 & 155092 \\& 177273 & 196399 & 205329 & 89564 & 94838 & 94920 & 97577 & 102163 & 103754 & 239585 \\& 239773 & 241293 & 249157 & 294388 & 318813 & 66462 & 100444 & 103846 & 154118 & 155460 \\\text { COWS } & 21 & 20 & 22 & 17 & 16 & 20 & 21 & 19 & 21 & 19 \\& 22 & 24 & 26 & 26 & 27 & 22 & 27 & 24 & 27 & 24 \\& 29 & 21 & 25 & 26 & 33 & 31 & 33 & 23 & 27 & 29 \\& 27 & 28 & 32 & 22 & 26 & 24 & 26 & 28 & 26 & 39 \\& 44 & 42 & 41 & 42 & 47 & 18 & 21 & 22 & 27 & 27\end{array}$$ You believe that the number of milking cows is the best predictor for total milk production on any
given farm.
-Referring to Scenario 13-14-B, if you purchase 40 cows for the new farm, the lower and upper
limit of the 95% confidence interval for the mean total milk production are _____ liters and
_____ liters, respectively.

Comprehend the concept of mixed method research and its contribution to research reliability and validity.

Identify and explain key concepts in research validity and reliability, specifically in the context of qualitative research.

Recognize different methods of data collection and their implications on research time and resource allocation.

Understand the role of participant behavior, such as social desirability and reactivity, in research outcomes.

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Definitions:

Money Market Securities

Short-term financial instruments typically with high liquidity and minimal risk.

Capital Market Securities

Long-term financial instruments traded in capital markets, such as bonds, stocks, or debentures.

Liquid

Describes an asset that can be quickly converted into cash without significant loss of value or a market where such assets can be bought or sold with ease.

Financial Intermediaries

Institutions that facilitate the channeling of funds between savers and borrowers by intermediating financial transactions.