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business analytics data

Questions and Answers of Business Analytics Data

5. The managing director of a consulting group has the following monthly data on total overhead costs and professional labor hours to bill to clients:4 Total Billable$340,000 3,000$400,000
4. Set up an Excel worksheet to apply formulas (9.5) and (9.6) to compute the values of b0 and b1 for the data in the Excel file Home Market Value and verify that you obtain the same values as in
3. Using the results of fitting the Home Market Value regression line in Example 9.2, compute the errors associated with each observation using formula (9.3) and construct a histogram.
2. Using the data in the Excel file Student Grades, construct a scatter chart for midterm versus final exam grades and add a linear trendline. What is the regression model? If a student scores 85 on
1. Using the data in the Excel file Demographics, verify that a linear relationship exists between unemployment rates and cost of living indexes by constructing a scatter chart. Then find the
• List the assumptions of regression analysis and describe methods to verify them.
• Use the Excel Trendline tool to find the best-fitting simple linear regression model.
• Use a scatter chart to identify the type of relationship between two variables.
• Explain the purpose of regression analysis and provide examples in business.
25. The admissions director of an engineering college has $500,000 in scholarships each year from an endowment to offer to high-achieving applicants. The value of each scholarship offered is $25,000
24. For the new-product model in Problem 6, construct a tornado chart and explain the sensitivity of each of the model’s parameters on the NPV of profit.
23. For the garage-band model in Problem 4, construct a tornado chart and explain the sensitivity of each of the model’s parameters on total profit.
22. The Hyde Park Surgery Center specializes in high-risk cardiovascular surgery.The center needs to forecast its profitability over the next 3 years to plan for capital growth projects. For the
21. Think of any retailer that operates many stores throughout the country, such as Old Navy, Hallmark Cards, or Radio Shack, to name just a few. The retailer is often seeking to open new stores and
20. For the garage-band model you developed in Problem 4, define and run some reasonable scenarios using the Scenario Manager to evaluate profitability for variations in the estimates.
19. For the nonprofit ballet company fundraising model you developed in Problem 8, use a data table to show how the amount varies based on the number of solicitations.
18. For the stockbroker model you developed in Problem 7, use data tables to show how the commission is a function of the number of calls made.
17. For the Koehler Vision Associates model you developed in Problem 10, use data tables to study how revenue is affected by changes in the number of appointments accepted and patient demand.
16. The weekly price at an extended-stay hotel (renting by the week for business travelers) is $900. Operating costs average $25,000 per month, regardless of the number of rooms rented. Construct a
15. Use the Markdown Pricing Decisions spreadsheet model and a two-way data table to find the total revenue if days at full retail vary from 20 to 40 in increments of 5 and the intermediate markdown
14. Problem 14 in Chapter 1 posed the following situation: The demand for airline travel is quite sensitive to price. Typically, there is an inverse relationship between demand and price; when price
13. Problem 13 in Chapter 1 posed the following situation: A manufacturer of mp3 players is preparing to set the price on a new model. Demand is thought to depend on the price and is represented by
12. A consumer products company has collected some data relating monthly demand to the price of one of its products:Price Demand$12 2,080$14 2,006$16 1,950$18 1,870 What type of model would best
11. Each worksheet in the Excel file LineFit Data contains a set of data that describes a functional relationship between the dependent variable y and the independent variable x. Construct a line
10. Koehler Vision Associates (KVA) specializes in laser-assisted corrective eye surgery. Prospective patients make appointments for prescreening exams to determine their candidacy for the surgery:
9. A local pharmacy orders 15 copies of a monthly magazine. Depending on the cover story, demand for the magazine varies. The pharmacy purchases the magazines for $2.25 and sells them for $5.00. Any
8. The director of a nonprofit ballet company in a medium-sized U.S. city is planning its next fundraising campaign. In recent years, the program has found the following percentages of donors and
7. A stockbroker calls on potential clients from referrals. For each call, there is a 15% chance that the client will decide to invest with the firm. Sixty percent of those interested are found not
6. For a new product, sales volume in the first year is estimated to be 100,000 units and is projected to grow at a rate of 7% per year. The selling price is $10 and will increase by $0.50 each year.
5. The Radio Shop sells two popular models of portable sport radios, model A and model B. The sales of these products are not independent of each other (in economics, we call these substitutable
4. A garage band wants to hold a concert. The expected crowd is 3,000. The average expenditure on concessions is $15. Tickets sell for $10 each, and the band’s profit is 80% of the gate, along with
3. Return on investment (ROI) is computed in the following manner: ROI is equal to turnover multiplied by earnings as a percent of sales. Turnover is sales divided by total investment. Total
2. A (greatly) simplified model of the national economy can be described as follows.The national income is the sum of three components: consumption, investment, and government spending. Consumption
1. A company is trying to predict the long-run market share of a new men’s deodorant.4 Based on initial marketing studies, they believe that 35% of new purchasers in this market will ultimately try
• Create data tables and tornado charts using Risk Solver Platform.
• Construct one- and two-way data tables.
• Apply the Excel Trendline tool to fit models to data.
• Use data-driven approaches to develop predictive analytic models.
• Implement mathematical decision models on spreadsheets.
• Develop analytic models mathematically using logicdriven approaches.
• Explain how to use influence diagrams to help develop predictive analytic models.
27. For the data in the Excel file New Account Processing, perform chi-square tests for independence to determine if certification is independent of gender, and if certification is independent of
26. For the data in the Excel file Graduate School Survey, perform a chi-square test for independence to determine if plans to attend graduate school are independent of gender.
25. For the data in the Excel file Accounting Professionals, perform a chi-square test of independence to determine if age group is independent of having a graduate degree.
24. Using the data in the Excel file Freshman College Data, use ANOVA to determine whether the mean retention rate is the same for all colleges over the fouryear period. Second, use ANOVA to
23. Using the data in the Excel file Cell Phone Survey, apply ANOVA to determine if the mean response for Value for the Dollar is the same for different types of cell phones.
22. In the Excel file Restaurant Sales, determine if the variance of weekday sales is the same as that of weekend sales for each of the three variables (lunch, dinner, and delivery).
21. Using the data in the Excel file Student Grades, which represent exam scores in one section of a large statistics course, test the hypothesis that the variance in grades is the same for both
20. The Excel file Unions and Labor Law Data reports the percent of public- and private-sector employees in unions in 1982 for each state, along with indicators whether the states had a bargaining
19. Using the data in the Excel file Ohio Education Performance, test the hypotheses that the mean difference in writing and reading scores is zero and that the mean difference in math and science
17. The director of human resources for a large bank has compiled data on about 70 former employees at one of the bank’s call centers (see the Excel file Call Center Data). For each of the
16. Determine if there is evidence to conclude that the proportion of males who plan to attend graduate school is larger than the proportion of females who plan to attend graduate school using the
15. In the Excel file Credit Risk Data, test the hypotheses that the number of months employed is the same for applicants with low credit risk as those with high credit risk evaluations.
14. In the Excel file Cell Phone Survey, test the hypothesis that the mean responses for Value for the Dollar and Customer Service do not differ by gender.
13. The Excel file Accounting Professionals provides the results of a survey of 27 employees in a tax division of a Fortune 100 company.a. Test the null hypothesis that the average number of years of
12. Determine if there is evidence to conclude that the mean number of vacations taken by married individuals is less than the number taken by single/divorced individuals using the data in the Excel
11. Using the Excel file Facebook Survey, determine if the mean number of hours spent online per week is the same for males as it is for females.
10. Using the data in the Excel file Consumer Transportation Survey, test the following null hypotheses:a. Individuals spend at least 10 hours per week in their vehicles.b. Individuals drive an
9. An employer is considering negotiating its pricing structure for health insurance with its provider if there is sufficient evidence that customers will be willing to pay a lower premium for a
8. The Excel file Room Inspection provides data for 100 room inspections at 25 hotels in a major chain. Management would like the proportion of nonconforming rooms to be less than 2%. Test an
7. The Excel file Sales Data provides data on a sample of customers. An industry trade publication stated that the average profit per customer for this industry was at least $4,500. Using a test of
6. Formulate and test a hypothesis to determine if statistical evidence suggests that the graduation rate for either top liberal arts colleges or research universities in the sample Colleges and
5. The State of Ohio Department of Education has a mandated ninth-grade proficiency test that covers writing, reading, mathematics, citizenship (social studies), and science. The Excel file Ohio
4. Using the data in the Excel file Computer Repair Times, determine if the company can claim that its average repair time is less than 12 days.
3. Using the data in the Excel file Airport Service Times, determine if the airline can claim that its average service time is less than 2 minutes.
2. Call centers typically have high turnover. The director of human resources for a large bank has compiled data on about 70 former employees at one of the bank’s call centers in the Excel file
1. A retailer believes that its new advertising strategy will increase sales. Previously, the mean spending in 15 categories of consumer items in both the 18–34 and 35+ age groups was $70.00.a.
• Conduct and interpret the results of a chi-square test for independence.
• Explain the purpose of hypothesis testing.
23. If a manufacturer conducted a survey among randomly selected target market households and wanted to be 95% confident that the difference between the sample estimate and the actual market share
22. Trade associations such as the United Dairy Farmers Association frequently conduct surveys to identify characteristics of their membership. If this organization conducted a survey to estimate the
21. For the Excel file Credit Approval Decisions, find 95% confidence and prediction intervals for the credit scores and revolving balance of homeowners and nonhomeowners.How do they compare?
20. The Excel file Restaurant Sales provides sample information on lunch, dinner, and delivery sales for a local Italian restaurant. Develop 95% prediction intervals for the dollar sales of each of
19. Using the data in the worksheet Consumer Transportation Survey, develop 95%and 99% prediction intervals for the following:a. the hours per week that an individual will spend in his or her
18. A study of nonfatal occupational injuries in the United States found that about 31% of all injuries in the service sector involved the back. The National Institute for Occupational Safety and
17. A marketing study found that the mean spending in 15 categories of consumer items for 297 respondents in the 18–34 age group was $71.86 with a standard deviation of$70.90. For 736 respondents
16. The Excel file Baseball Attendance shows the attendance in thousands at San Francisco Giants’ baseball games for the 10 years before the Oakland A’s moved to the Bay Area in 1968, as well as
15. Using data in the Excel file Colleges and Universities, find 95% confidence intervals for the median SAT for each of the two groups, liberal arts colleges and research universities. Based on
14. A manufacturer conducted a survey among 400 randomly selected target market households in the test market for its new disposable diapers. The objective of the survey was to determine the market
13. Using the data in the worksheet Consumer Transportation Survey, develop 95%confidence for the following:a. the proportion of individuals who are satisfied with their vehicleb. the proportion of
12. If, based on a sample size of 200, a political candidate found that 125 people would vote for her in a two-person race, what is the 95% confidence interval for her expected proportion of the
11. If, based on a sample size of 600, a political candidate finds that 318 people would vote for him in a two-person race, what is the 95% confidence interval for his expected proportion of the
10. The Excel file Restaurant Sales provides sample information on lunch, dinner, and delivery sales for a local Italian restaurant. Develop 95% confidence intervals for the mean of each of these
9. Find the standard deviation of the total assets held by the bank in the Excel file Credit Risk Data.a. Treating the records in the database as a population, use your sample in Problem 2 and
8. Using the data in the Excel file Accounting Professionals, find and interpret 95%confidence intervals for the following:a. mean years of serviceb. proportion of employees who have a graduate degree
7. A popular soft drink is sold in 2-liter (2,000-milliliter) bottles. Because of variation in the filling process, bottles have a mean of 2,000 milliliters and a standard deviation of 20, normally
6. In determining automobile mileage ratings, it was found that the mpg in the city for a certain model is normally distributed, with a mean of 24 mpg and a standard deviation of 1.0 mpg. Suppose
5. Repeat the sampling experiment in Example 6.3 for sample sizes 50, 100, 250, and 500. Compare your results to the example and use the empirical rules to analyze the sampling error. For each
4. Find the current 30 stocks that comprise the Dow Jones Industrial Average. Set up an Excel spreadsheet for their names, market capitalization, and one or two other key financial statistics (search
3. Describe how to apply stratified sampling to sample from the Credit Risk Data file based on the different types of loans. Implement your process in Excel to choose a random sample consisting of
2. Number the rows in the Excel file Credit Risk Data to identify each record. The bank wants to sample from this database to conduct a more-detailed audit. Use the Excel Sampling tool to find a
1. Your college or university wishes to obtain reliable information about student perceptions of administrative communication. Describe how to design a sampling plan for this situation based on your
• Calculate the standard error of the mean.
46. Use Risk Solver Platform to fit a distribution to the data in the Excel file Computer Repair Times. Try the three different statistical measures for evaluating goodness of fit and see if they
45. A government agency is putting a large project out for low bid. Bids are expected from 10 different contractors and will have a normal distribution with a mean of$3.5 million and a standard
44. A formula in financial analysis is: Return on equity net profit margin total asset turnover equity multiplier. Suppose that the equity multiplier is fixed at 4.0, but that the net profit
43. Use the Excel Random Number Generation tool to generate 100 samples of the number of customers that the financial consultant in Problem 28 will have on a daily basis. What percentage will meet
42. Use formula (5.22) to obtain a sample of 25 outcomes for a game of Battleship™as described in Problem 31. Find the average and standard deviation for these 25 outcomes.
41. Develop a procedure to sample from the probability distribution of two-card hands in Problem 2. Implement your procedure on a spreadsheet and use the VLOOKUP function to sample 10 outcomes from
40. Develop a procedure to sample from the probability distribution of soft-drink choices in Problem 1. Implement your procedure on a spreadsheet and use the VLOOKUP function to sample 10 outcomes

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