Question 1: 1.1. A manufacturer of computer chips claims that less than 10% of his products are defective. When 1,000 chips were drawn from a large production, 7.5% were found to be defective. a) What is the population of interest? (2) b) What is the sample? (2) c) What is the parameter? (2) d) What is the statistic? (2) e) Does the value 10% refer […]
Posted: May 16, 2023
National Business Bank (NBB) was named the best bank in 2010 by Global Finance and received many other accolades. However, after two years, the bank was beset by long lines at branches and ATMs, high turnover among relationship managers, a plodding credit card application process, and ended up with the worst customer satisfaction scores. One of the senior executives, recalls that “it was almost embarrassing […]
Posted: May 4, 2023
Eddy and Carl live in Benoni but decide to spend their December vacation at Umhlanga Rocks. Upon their arrival in Durban they hear that the beaches are closed as a result they are unable to swim. Eddy decides to stroll on the beach, while Carl went Mall hopping. Eddy finds a coin on the beach that is gold in colour. Assuming that the coin was […]
Posted: April 26, 2023
CASE STUDY: UNILEVER The below case study is a direct extract from the official Unilever website. Read through the extract and answer the questions that follow: We’ve been pioneers, innovators and future-makers for over 120 years. The success we’ve achieved means that, today, 2.5 billion people will use our products to feel good, look good and get more out of life. Our brands give us […]
Posted: April 22, 2023
Since its establishment in 1984, Ryanair has grown from a small airline, flying the short journey from Waterford to London, into Europe’s largest carrier. Ryanair now has over 11,000 people working for the company. Most employees are employed and contracted by multiple agencies to fly on Ryanair aircrafts. As in the case for pilots, the vast majority are either agency employed or self-employed, and their […]
Posted: April 22, 2023
We’ve all heard of mega-corporations like Apple, Meta, Alphabet, Tesla, Microsoft, and Amazon. They’re constantly in the news, employ thousands and generate billions in revenue. What you don’t often read about in the news, on Facebook or on Twitter are the thousands upon thousands of small and medium-sized companies that quietly go about their business every day, employing countless people, supplying products and services, and […]
Posted: April 21, 2023
Engineering entrepreneurs Martin Eberhard and Marc Tarpenning founded Tesla in 2003 in Palo Alto, California. Elon Musk, who had earned $165 million from the sale of his stake in PayPal in October 2002, led the Series A round of funding of $7.5 million in 2003 and became chairman of the board in 2004. None of the ‘ ‘company’s original leadership team had a background in […]
Posted: April 18, 2023
Choc Co. is one of the world’s largest confectionery businesses with a significant market share in many of the world’s biggest confectionery markets, including many emerging markets. It has a long and proud tradition, stretching back more than 150 years, including a long history of developing its employees, which has remained part of its ethos during its progress to becoming a global company. Despite very […]
Posted: April 18, 2023
Global Green Books Publishing started two years ago by two friends, Jim King and Brad Mount, who met in college while studying in Philadelphia, USA. In the new business, Jim focused on editing, sales, and marketing while Brad Mount did the electronic assembly and publishing of books for Global Green Books. Their business was successful and profitable in the first two years, largely due to […]
Posted: April 11, 2023
Investec is an international specialist bank and asset manager that provides a diverse range of financial products and services. The company was founded as a leasing company in Johannesburg in 1974 and expanded to serve a select client base in three principal markets, the UK and Europe, South Africa, and Asia/Australia. Today the company has a dual listing in London and Johannesburg and is a […]
Posted: April 9, 2023
