Solution Found!
Blogs for Fortune 500 firms. Refer to the Journal of
Chapter , Problem 78E(choose chapter or problem)
Problem 78E
Blogs for Fortune 500 firms. Refer to the Journal of Relationship Marketing (Vol. 7, 2008) study of the prevalence of blogs and forums at Fortune 500 firms with both English and Chinese Web sites, Exercise 2.9 (p. 49). In a sample of firms that provide blogs and forums as marketing tools, the mean number of blogs/forums per site was 4.25, with a standard deviation of 12.02.
a. Provide an interval that is likely to contain the number of blogs/forums per site for at least 75% of the Fortune 500 firms in the sample.
b. Do you expect the distribution of the number of blogs/ forums to be symmetric, skewed right, or skewed left? Explain.
2.9 Blogs for Fortune 500 firms. Web site communication through blogs and forums is becoming a key marketing tool for companies. The Journal of Relationship Marketing (Vol. 7, 2008) investigated the prevalence of blogs and forums at Fortune 500 firms with both English and Chinese web sites. Of the firms that provided blogs/forums as a marketing tool, the accompanying table gives a breakdown on the entity responsible for creating the blogs/forums. Use a graphical method to describe the data summarized in the table. Interpret the graph.
Blog/Forum |
Percentage of Firms |
Created by company |
38.5 |
Created by employees |
34.6 |
Created by third party |
11.5 |
Creator not identified |
15.4 |
Source: Data from K. Mishra and C. Li, “Relationship marketing in FORTUNE 500 U.S. and Chinese web sites,” JOURNAL OF RELATIONSHIP MARKETING, Vol. 7, No. 1, 2008.
Questions & Answers
QUESTION:
Problem 78E
Blogs for Fortune 500 firms. Refer to the Journal of Relationship Marketing (Vol. 7, 2008) study of the prevalence of blogs and forums at Fortune 500 firms with both English and Chinese Web sites, Exercise 2.9 (p. 49). In a sample of firms that provide blogs and forums as marketing tools, the mean number of blogs/forums per site was 4.25, with a standard deviation of 12.02.
a. Provide an interval that is likely to contain the number of blogs/forums per site for at least 75% of the Fortune 500 firms in the sample.
b. Do you expect the distribution of the number of blogs/ forums to be symmetric, skewed right, or skewed left? Explain.
2.9 Blogs for Fortune 500 firms. Web site communication through blogs and forums is becoming a key marketing tool for companies. The Journal of Relationship Marketing (Vol. 7, 2008) investigated the prevalence of blogs and forums at Fortune 500 firms with both English and Chinese web sites. Of the firms that provided blogs/forums as a marketing tool, the accompanying table gives a breakdown on the entity responsible for creating the blogs/forums. Use a graphical method to describe the data summarized in the table. Interpret the graph.
Blog/Forum |
Percentage of Firms |
Created by company |
38.5 |
Created by employees |
34.6 |
Created by third party |
11.5 |
Creator not identified |
15.4 |
Source: Data from K. Mishra and C. Li, “Relationship marketing in FORTUNE 500 U.S. and Chinese web sites,” JOURNAL OF RELATIONSHIP MARKETING, Vol. 7, No. 1, 2008.
ANSWER:
Solution:
Step 1 of 2:
We have, the mean number of blogs/forums is 4.25 and the standard deviation is 12.02
- The claim is to provide the interval that is likely to the number of blogs/forums per site for at least 75% of the fortune 500 firms in the sample.
By using Chebyshev’s rule, at least 75% of the observations will fall within 2 standard deviations of the mean
The interval 2s
4.25 2 (12.02)
(-19.79, 28.29) or (0, 28.29)
Since we do not have negative number of blogs.
Hence, the intervals are 0 and 28.29