Department Store
a Large Department Store Records the Number of Returns

question 50

Essay

Department store
A large department store records the number of returns per day in women's dresses for reasons such as wrong size; husband didn't like it,color,etc.The manager of the women's dresses department recalls from her statistics class in college that the Poisson distribution might describe such events.A random sample of 150 days is taken.The number of returns per day in the sample as well as the observed frequencies are shown below: $$\begin{array} { | c | c | } \hline \begin{array} { c } \text { Number of } \\\text { Returns Per Day }\end{array} & \begin{array} { c } \text { Observed } \\\text { Frequency }\end{array} \\\hline 0 & 21 \\1 & 37 \\2 & 44 \\3 & 30 \\4 & 14 \\> 4 & 4 \\\hline\end{array}$$
-She tests the hypothesis that returns per day are Poisson distributed with a population mean equal to 1.90.Her significance level is 0.05.Identify the critical value.

Analyze the evolving relationship between manufacturers and retailers and its impact on product distribution and availability.

Identify the significance of location in retail and the factors influencing retail location decisions.

Assess strategies for targeting specific customer segments through general merchandise retailers.

Understand channel selection for product distribution based on product range and efficiency in operations.

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Definitions:

Platelets

Small blood cells essential for blood clotting, preventing excessive bleeding when blood vessels are injured.

Red Bone Marrow

A type of bone marrow that produces red blood cells, white blood cells, and platelets.

Histamine

A compound involved in local immune responses, regulating physiological function in the gut and acting as a neurotransmitter.

Heparin

An anticoagulant medication used to prevent and treat blood clots, commonly administered intravenously or subcutaneously.