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1

Adoption and Benefits of Statistical Methods in Enterprises: Differences between Croatian Regions

100%
Žmuk B.
South East European Journal of Economics and Business
|
2015
|
vol. 10
|
issue 1
55-65
EN
This paper aims to address differences in the use of statistical methods by enterprises as one of the factors leading to the uneven level of economic development between different regions. For research purposes, a web survey was conducted on a sample of 667 Croatian enterprises in 2013. In order to better distinguish between Croatian regions, a complex sample survey design was used. The results show that the highest rates of statistical methods use among enterprises are in the Central and East region (36.96%). The conducted logistic regression analysis showed that the enterprises that use statistical methods have 63.5% greater odds of achieving positive net income than enterprises that do not. The research results point out the need for the adoption of statistical methods as a tool for achieving higher net income and for reducing economic dissimilarities between regions.
2
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Estimating completion and breakoff functions in a business web survey

100%
Žmuk B.
Statistics in Transition new series
|
2021
|
vol. 22
|
issue 2
15-39
EN
A business web survey should be of an appropriate length. On the one hand it should include all the questions which are important to the researcher, but on the other hand, it should not be too long as the breakoff rate in this case tends to be high, resulting in a low response rate. In consequence, the researcher is forced to invest more time and money in order to reach a sample size which would enable an appropriately performed statistical analysis. In this paper, completion and breakoff times are observed and compared across different questionnaire and respondent characteristics. A regression modelling approach has been adopted to estimate the completion and breakoff functions to help a researcher determine which respondents completed a questionnaire and which broke it off too quickly or too slowly. By omitting such respondents, a researcher is able to obtain the relevant estimates more efficiently. In addition, the completion and breakoff functions offer a better insight into the completion and breakoff development rates, allowing the researcher to make a betterinformed decision as to whether the survey requires any modifications or not.
3

Intracluster Homogeneity Selection Problem in a Business Survey

100%
Žmuk B.
Business Systems Research Journal
|
2016
|
vol. 7
|
issue 2
91-103
EN
Background: In the cluster sampling approach many parameters have influence on lowering the survey costs and one of the most important is the intracluster homogeneity. Objectives: The goal of the paper is to find the most optimal value of intracluster homogeneity in case when two or more questions or variables have a key role in the research. Methods/Approach: Five key variables have been selected from a business survey conducted in Croatia and results for the two-stage cluster sampling design approach were simulated. The calculated intracluster homogeneity values were compared among all the five observed questions and survey costs and precision levels were inspected. Results: In the new cluster sampling design, for the fixed precision level, the lowest survey costs would be achieved by using the intracluster homogeneity value which is the closest to the average intracluster homogeneity value among all the key questions. Similar results were obtained when survey costs were held fixed. Conclusions: If there is more than one key question in the survey, then the best solution would be to use an average intracluster homogeneity value. However, one should notice that in that case minimum survey costs would not be reached, but the precision levels would increase at all key questions.
4

Statistical Control Charts: Performances of Short Term Stock Trading in Croatia

63%
Dumičić K., Žmuk B.
Business Systems Research Journal
|
2015
|
vol. 6
|
issue 1
22-35
EN
Background: The stock exchange, as a regulated financial market, in modern economies reflects their economic development level. The stock market indicates the mood of investors in the development of a country and is an important ingredient for growth. Objectives: This paper aims to introduce an additional statistical tool used to support the decision-making process in stock trading, and it investigate the usage of statistical process control (SPC) methods into the stock trading process. Methods/Approach: The individual (I), exponentially weighted moving average (EWMA) and cumulative sum (CUSUM) control charts were used for gaining trade signals. The open and the average prices of CROBEX10 index stocks on the Zagreb Stock Exchange were used in the analysis. The statistical control charts capabilities for stock trading in the short-run were analysed. Results: The statistical control chart analysis pointed out too many signals to buy or sell stocks. Most of them are considered as false alarms. So, the statistical control charts showed to be not so much useful in stock trading or in a portfolio analysis. Conclusions: The presence of non-normality and autocorellation has great impact on statistical control charts performances. It is assumed that if these two problems are solved, the use of statistical control charts in a portfolio analysis could be greatly improved.
5

Decision making based on single and double acceptance sampling plans for assessing quality of lots

63%
Dumičić K., Žmuk B.
Business Systems Research Journal
|
2012
|
vol. 3
|
issue 2
27-40
EN
Background: Acceptance sampling is a statistical tool of quality control. Sampling plans and operating characteristic (OC) curves are very useful for conducting acceptance sampling and provide the quality manager with tools to evaluate the quality of a production run or shipment. There are developed different sampling plans, but common used in practise are single and double acceptance sampling plans. Objectives: The goal of the paper is to test if applying of single and double sampling plan can lead to statistically significant different conclusion about quality level of observed lot. Methods/Approach: Statistical tests of difference in proportions are used to test if there is some statistically significant difference in probabilities of lot fraction defectives between a single and a double sampling plan at the same levels of probability of acceptance. Results: The results of the analysis show that in some cases there is statistically significant difference. Namely, the quality manager should be careful when he chooses to use, instead of the first, the second sampling plan with different parameters because on that way he could make statistically significant different conclusion about quality level of observed lot. Conclusions: The paper shows that some intentional manipulations by using different sampling plans are possible.
6

Statistical Methods Use in Small Enterprises: Relation to Performance

51%
Dumičić K., Bregar L., Žmuk B.
Business Systems Research Journal
|
2014
|
vol. 5
|
issue 3
37-48
EN
Background: There are several factors that lead to an improved level of competitiveness and increased net income of enterprises. Previous studies have shown that an appropriate use of statistical methods has positive effects on the level of competitiveness and on enterprises’ net income in general. Objectives: This study analyses the statistical methods use in Croatian small enterprises. The goal of this research is to establish whether most Croatian small enterprises use statistical methods and whether the enterprises that use statistical methods on average have greater net income than the enterprises that do not use statistical methods. Methods/Approach: A web survey was conducted on the sample of 631 small enterprises in Croatia in 2012. In the analysis a complex survey design was taken into account. Results: The results have shown that in most Croatian small enterprises statistical methods are not used. The enterprises that use statistical methods on average have greater net income than the enterprises that do not use them. Conclusions: The results suggest that even though the use of statistical methods in small enterprises leads to higher net income, they are not used in the majority of Croatian small enterprises. If Croatian small enterprises want to succeed on the demanding European Union’s market they should consider using statistical methods in their business.
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