Instruction 14-12
the Number of Cases of Chardonnay Wine Sold

question 107

Essay

Instruction 14-12
The number of cases of chardonnay wine sold by a winery in an eight-year period follows.
$$\begin{array} { | l | l | } \hline \text { Year } & \text { Case of Wine } \\\hline 2003 & 270 \\\hline 2004 & 356 \\\hline 2005 & 398 \\\hline 2006 & 456 \\\hline 2007 & 438 \\\hline 2008 & 478 \\\hline 2009 & 460 \\\hline 2010 & 480 \\\hline\end{array}$$
-Referring to Instruction 14-12,set up a scatter diagram (i.e.,a time-series plot)with year on the horizontal X-axis.

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Definitions:

Creativity

Creativity is the ability to produce original and valuable ideas or solutions by thinking beyond established norms.

Vision

A mental image of a possible and desirable future state of the organization.

Framing Error

A mistake that occurs when information is presented or perceived in a way that biases or distorts decision making.

Sunk Cost Bias

The decision to continue an investment based on past investments of time, effort, and/or money.