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The B&K Real Estate Company analysis

The B&K Real Estate Company analysis

The B&K Real Estate Company sells homes and is currently serving the Southeast region. It has recently expanded to cover the Northeast states. The B&K realtors are excited to now cover the entire East Coast and are working to prepare their southern agents to expand their reach to the Northeast.

B&K has hired your company to analyze the Northeast home listing prices in order to give information to their agents about the mean listing price at 95% confidence. Your company offers two analysis packages: one based on a sample size of 100 listings, and another based on a sample size of 1,000 listings. Because there is an additional cost for data collection, your company charges more for the package with 1,000 listings than for the package with 100 listings.

Sample size of 100 listings:
95% confidence interval for the mean of the Northeast house listing price has a margin of error of $25,000
Cost for service to B&K: $2,000
Sample size of 1,000 listings:
95% confidence interval for the mean of the Northeast house listing price has a margin of error of $8,000
Cost for service to B&K: $10,000
The B&K management team does not understand the tradeoff between confidence level, sample size, and margin of error. B&K would like you to come back with your recommendation of the sample size that would provide the sales agents with the best understanding of northeast home prices at the lowest cost for service to B&K.

In other words, which option is preferable?

Spending more on data collection and having a smaller margin of error
Spending less on data collection and having a larger margin of error
Choosing an option somewhere in the middle
For your initial post:

Formulate a recommendation and write a confidence statement in the context of this scenario. For the purposes of writing your confidence statement, assume the sample mean house listing price is $310,000 for both packages. “I am [#] % confident the true mean . . . [in context].”
Explain the factors that went into your recommendation, including a discussion of the margin of error
For your response posts to your peers, choose two different confidence intervals for your responses. Do you think the agents would prefer a different confidence interval than their management? What advantages and disadvantages would there be in having different confidence intervals for the agents? Explain your thought process and reasoning in your response.

Burger King (BK) is definitely an American multinational sequence of hamburger fastfood eating places. Headquartered in Miami-Dade Region, Florida, the organization was launched in 1953 as Insta-Burger Queen, a Jacksonville, Florida–based bistro chain. After Insta-Burger Ruler went into financial difficulties in 1954, its two Miami-centered franchisees David Edgerton and James McLamore purchased the company and renamed it “Burger Queen”. Across the following one half-century, the business modified fingers four times, featuring its third pair of managers, a collaboration of TPG Funds, Bain Money, and Goldman Sachs Money Partners, using it community in 2002. At the end of-2010, 3rd generation Money of Brazil acquired a bulk stake within the company, in a deal priced at US$3.26 billion dollars. The latest managers promptly established a restructuring from the business to reverse its prospects. 3G, along with lover Berkshire Hathaway, gradually combined the business with the Canadian-based doughnut sequence Tim Hortons, underneath the auspices of your new Canadian-dependent father or mother firm called Cafe Manufacturers Worldwide.

The 1970s were the “Golden Era” in the company’s marketing, but commencing during the early-1980s Burger Ruler advertising commenced losing concentration. Several less effective promotional initiatives produced by a procession of promoting agencies continuing for the following two generations. In 2003, Burger Master chosen the Miami-centered advertising agency Crispin Porter + Bogusky (CP+B), which completely reorganized its advertising and marketing with a number of new strategies dedicated to a remodeled Burger Master character nicknamed “The Ruler”, along with a new on the internet existence. While highly productive, several of CP+B’s tv commercials were actually derided for identified sexism or ethnic insensitivity. Burger King’s new proprietor, 3rd generation Investment capital, afterwards terminated the connection with CP+B in the year 2011 and transferred its marketing to McGarryBowen, to get started a new merchandise-oriented promotion with enhanced demographic targeting.

Burger King’s menu has enhanced from a fundamental providing of burgers, French-fried potatoes, carbonated drinks, and milkshakes into a bigger and much more diversified pair of products. In 1957, the “Whopper” became the very first main addition to the food list, and possesses become Burger King’s trademark merchandise given that. Conversely, Burger Master has introduced a lot of items that failed to capture keep in the industry. A number of these breakdowns in the United States have experienced achievement in international marketplaces, exactly where Burger Ruler also has personalized its food list for local tastes. From 2002 to 2010, Burger King aggressively specific the 18–34 men demographic with greater goods that often taken correspondingly large amounts of bad fats and trans-fatty acids. This tactic would eventually damage the company’s economic underpinnings, and cast a negative pall on its earnings. Beginning in 2011, the organization began to depart from its previous masculine-focused food selection and introduce new menu goods, product reformulations and product packaging, as an element of its present proprietor 3G Capital’s restructuring plans in the firm.[4]

By December 31, 2018, Burger Ruler reported it had 17,796 shops in 100 nations.[5][6] Of such, virtually fifty percent are located in america, and 99.7Per cent are privately owned and operated,[6] with its new users relocating for an almost entirely franchised model in 2013. Burger Ruler has historically used several versions of franchising to grow its surgical procedures. The manner where the organization licenses its franchisees varies according to the place, with a few local franchises, referred to as master franchises, accountable for promoting business sub-licenses around the company’s behalf. Burger King’s romantic relationship with its franchises has not yet been beneficial. The occasional spats between the two have triggered many concerns, as well as in numerous situations, the company’s as well as its licensees’ relationships have degenerated into precedent-placing the courtroom circumstances. Burger King’s Australian business Feeling hungry Jack’s is definitely the only franchise to operate within various name, due to a hallmark challenge and several lawful instances in between the two. The forerunner to Burger Ruler was launched in 1953 in Jacksonville, Florida, as Insta-Burger King.[7] After visiting the McDonald brothers’ authentic retailer place in San Bernardino, Ca, the founders and users (Keith J. Kramer with his fantastic wife’s granddad Matthew Burns), who got purchased the proper rights to two items called “Insta-equipment”, opened up their first dining establishments. Their creation model was based on one of several machines that they had obtained, an stove called the “Insta-Broiler”. This strategy proved to be so successful that they later required all of their franchises to use the device.[8][9] After the company faltered in 1959, it was purchased by its Miami, Florida, franchisees, James McLamore and David R. Edgerton. They initiated a company restructuring in the sequence, initial renaming the company Burger Master. They jogged the corporation being an self-sufficient thing for eight yrs (eventually growing to over 250 places in the states), prior to marketing it to the Pillsbury Organization in 1967.[8]:28

Logo from May 1, 1969 until April 30, 1994

Company logo from May 1, 1994 until June 30, 1999

Logo from July 1, 1999 until December 21, 2020. Burger King intends to phase out this logo on locations with the current brand.

Burger Queen Major Ruler XXL Meal Pillsbury’s control experimented with repeatedly to rebuild Burger Master throughout the later 1970s along with the early 1980s. Probably the most popular modify arrived in 1978 when Burger Queen chosen McDonald’s management Donald N. Smith to help revamp the business. In the plan referred to as “Functioning Phoenix, az”,[9]:118 Smith restructured corporate and business business methods at all amounts of the business. Changes provided updated business contracts,[10] a wider food list[9]:119[10]:66 and new consistent cafe styles. Smith remaining Burger Queen for PepsiCo in 1980[11] shortly before a system-vast decrease in income.

Pillsbury’s Professional Vice President of Diner Procedures Norman E. Brinker was tasked with switching the manufacturer around, and fortifying its place against its main competitor McDonald’s. One among his campaigns was really a new marketing campaign featuring a series of assault adverts against its significant opponents. This promotion began a competitive period between Burger Master, McDonald’s, and top rated burger stores referred to as the Burger battles.[12] Brinker left Burger Ruler in 1984, to consider over Dallas-centered gourmet burger sequence Chili’s.[13]

Smith and Brinker’s initiatives had been initially successful,[14] but after their particular departures, Pillsbury relaxed or thrown away most of their changes, and scaled back on construction newest locations. These actions stalled business expansion and income decreased once more, at some point producing a harming fiscal slump for Burger Queen and Pillsbury.[15][16] Bad functioning and ineffectual management continued to bog down the organization for many years.