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business analytics data

Questions and Answers of Business Analytics Data

39. The actual delivery time from Giodanni’s Pizza is exponentially distributed with a mean of 20 minutes.a. What is the probability that the delivery time will exceed 30 minutes?b. What proportion
38. A lightbulb is warranted to last for 3,000 hours. If the time to failure is exponentially distributed with a true mean of 2,750 hours, what is the probability that it will last at least 3,000
37. Historical data show that customers who download music from a popular Web service spend approximately $20 per month, with a standard deviation of $4. Find the probability that a customer will
36. A supplier contract calls for a key dimension of a part to be between 1.96 and 2.04 centimeters. The supplier has determined that the standard deviation of its process, which is normally
35. 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
34. The distribution of the SAT scores in math for an incoming class of business students has a mean of 580 and standard deviation of 25. Assume that the scores are normally distributed.a. Find the
33. In determining automobile-mileage ratings, it was found that the mpg (X) for a certain model is normally distributed, with a mean of 30 mpg and a standard deviation of 1.5 mpg. Find the
32. A contractor has estimated that the minimum number of days to remodel a bathroom for a client is 10 days. He also estimates that 80% of similar jobs are completed within 18 days. If the
31. The time required to play a game of Battleship™ is uniformly distributed between 20 and 60 minutes.a. Find the expected value and variance of the time to complete the game.b. What is the
30. Verify that the function corresponding to the following figure is a valid probability density function. Then find the following probabilities:a. P1x 6 82b. P1x 7 72c. P16 6 x 6 102d. P18 6 x 6 112
29. The number and frequency of Atlantic hurricanes annually from 1940 through 2007 is shown here.Number Frequency 0 5 1 16 2 19 3 13 4 3 5 5 6 4 7 2 8 1a. Find the probabilities of 0–8 hurricanes
28. A financial consultant has an average of 6 customers he consults with each day, which are assumed to be Poisson distributed. The consultant’s overhead requires that he consult with at least 5
27. A telephone call center where people place marketing calls to customers has a probability of success of 0.10. The manager is very harsh on those who do not get a sufficient number of successful
26. A popular resort hotel has 300 rooms and is usually fully booked. About 4% of the time a reservation is canceled before the 6:00 p.m. deadline with no penalty.What is the probability that at
25. During one year, a particular mutual fund has outperformed the S&P 500 index 33 out of 52 weeks. Find the probability that this performance or better would happen only by chance.
24. If a cell phone company conducted a telemarketing campaign to generate new clients and the probability of successfully gaining a new customer was 0.05, what are the probabilities that contacting
23. What type of distribution models the random variable Prior Call Center Experience in the file Call Center Data? Define the parameter(s) for this distribution based on the data.
22. A major application of analytics in marketing is determining the attrition of customers.Suppose that the probability of a long-distance carrier’s customer leaving for another carrier from one
21. Based on the data in the Excel file Consumer Transportation Survey, develop a probability mass function and cumulative distribution function (both tabular and as charts) for the random variable
20. Construct the probability distribution for the value of a 2-card hand dealt from a standard deck of 52 cards (all face cards have a value of 10 and an ace has a value of 11).a. What is the
19. The weekly demand of a slow-moving product has the following probability mass function:Demand, x Probability, f(x)0 0.1 1 0.3 2 0.4 3 0.2 4 or more 0 Find the expected value, variance, and
18. An investor estimates that there is a 1 in 10 chance that a stock purchase will lose 20% of its value, a 2 in 10 chance that it will break even, a 4 in 10 chance that it will gain 15%, and a 3 in
17. A consumer products company found that 48% of successful products also received favorable results from test market research, whereas 12% had unfavorable results but nevertheless were successful.
16. In the roulette example described in Problem 7, what is the probability that the outcome will be green twice in a row? What is the probability that the outcome will be black twice in a row?
15. In drawing two cards in the scenario in Problem 2, what is the probability of drawing two 10s? If three cards are drawn, what is the probability of drawing three 10s?
14. A home pregnancy test is not always accurate. Suppose the probability is 0.02 that the test indicates that a woman is pregnant when she actually is not, and the probability is 0.03 that the test
13. Using the data in the Excel file Consumer Transportation Survey, develop a contingency table for Gender and Vehicle Driven; then convert this table into probabilities.a. What is the probability
12. Use the Civilian Labor Force data in the Excel file Census Education Data to find the following:a. P(unemployed and advanced degree)b. P(unemployed advanced degree)c. P(not a high school grad
11. In Example 3.21 in Chapter 3, we developed the following cross-tabulation of sales transaction data:Region Book DVD Total East 56 42 98 North 43 42 85 South 62 37 99 West 100 90 190 Total 261 211
10. Row 26 of the Excel file Census Education Data gives the number of employed persons having a specific educational level.a. Find the probability that an employed person has attained each of the
9. A survey of 100 recent college graduates found that 50 owned only mutual funds, 35 owned only stocks, and 15 owned both.a. What is the probability that an individual owns a stock? A mutual fund?b.
8. An airline tracks data on its flight arrivals. Over the past six months, 25 flights on one route arrived early, 150 arrived on time, 45 were late, and 30 were canceled.a. What is the probability
7. Roulette is played at a table similar to the one in Figure 5.37. A wheel with the numbers 1 through 36 (evenly distributed with the colors red and black) and two green numbers 0 and 00 rotates in
6. Refer to the coin scenario described in problem 3.a. Let A be the event “exactly 2 heads.” Find P(A).b. Let B be the event “at most 1 head.” Find P(B).c. Let C be the event “at least 2
5. Refer to the card scenario described in Problem 2. Let A be the event “total card value is 5 or less.” Find P(A) and P(Ac).
4. A market research company surveyed consumers to determine their ranked preferences of energy drinks among the brands Monster, Red Bull, and Rockstar.a. What are the outcomes of this experiment for
3. Three coins are dropped on a table.a. List all possible outcomes in the sample space.b. Find the probability associated with each outcome.
2. Consider the experiment of drawing two cards from a deck in which all picture cards have been removed and adding their values 1with ace = 12.a. Describe the outcomes of this experiment. List the
1. Lauren drinks a variety of soft drinks. Over the past month, she has had 12 diet colas, 5 cans of lemonade, and 3 cans of root beer in no particular order or pattern.a. Given this history, what is
31. A Midwest pharmaceutical company manufactures individual syringes with a self-contained, single dose of an injectable drug.8 In the manufacturing process, sterile liquid drug is poured into glass
29. Find the mean and variance of a deck of 52 cards, where an ace is counted as 11 and a picture card as 10. Construct a histogram of the card values. Shuffle the deck and deal two samples of 20
28. Use the Manufacturing Measurements data to compute control limits, assuming that each row in the data file represents a sample from the manufacturing process.Plot the sample averages on a line
27. Compute the z-scores for the data in the Excel file Airport Service Times. How many observations fall farther than three standard deviations from the mean?Would you consider these as outliers?
26. A national homebuilder builds single-family homes and condominium-style townhouses. The Excel file House Sales provides information on the selling price, lot cost, type of home, and region of the
25. In the Excel file Call Center Data, how strongly is length of service correlated with starting age?
24. For the Excel file Credit Risk Data, compute the correlation between age and months employed, age and combined checking and savings account balance, and the number of months as a customer and
23. The Excel file Beverage Sales lists a sample of weekday sales at a convenience store, along with the daily high temperature. Compute the covariance and correlation between temperature and sales.
22. For the President’s Inn Guest Database file, find the average length of stay and number of guests. Is there any correlation between the size of the party and the length of stay?
21. Call centers have high turnover rates because of the stressful environment. The national average is approximately 50%. The director of human resources for a large bank has compiled data about 70
20. The Excel file Cell Phone Survey reports opinions of a sample of consumers regarding the signal strength, value for the dollar, and customer service for their cell phone carriers. Use PivotTables
19. The Excel file Freshman College Data shows data for 4 years at a large urban university. Use PivotTables to examine differences in student high school performance and first-year retention among
18. Using PivotTables, compute the mean and standard deviation for all colleges and branch campuses for each year in the Excel file Freshman College Data. Are any differences apparent from year to
17. Using PivotTables, find the average and standard deviation of sales in the Sales Transactions database. Also, find the average sales by source (Web or e-mail). Do you think this information could
16. In the Excel file Cell Phone Survey, use PivotTables to find the average for each of the numerical variables for different cell phone carriers and gender of respondents.
15. In the Excel file Facebook Survey, use a PivotTable to find the average and standard deviation of hours online/week and number of friends for females and males in the sample.
14. In the Sales Transactions database, find the proportion of customers who used PayPal and the proportion of customers who used credit cards. Also, find the proportion that purchased a book and the
13. In the Excel file Bicycle Inventory, find the proportion of bicycles that sell for less than $200.
12. The Excel file EEO Employment Report shows the number of people employed in different professions for various racial and ethnic groups. Find the proportion of men and women in each ethnic group
11. A marketing study of 800 adults in the 18–34 age group reported the following information:• spent less than $100 on children’s clothing per year: 75 responses • spent $100–$499.99 on
10. The data in the Excel file Church Contributions were reported on annual giving for a church. Estimate the mean and standard deviation of the annual contributions by implementing formulas (4.13)
9. The worksheet Data in the Excel file Airport Service Times lists a large sample of the times in seconds to process customers at a ticket counter. The second worksheet shows a frequency
8. Use the Descriptive Statistics tool to summarize the percent gross profit, gross sales, and gross profit in the Excel file Sales Data.
7. Compute descriptive statistics for liberal arts colleges and research universities in the Excel file Colleges and Universities. Compare the two types of colleges. What can you conclude?
6. Find 30 days of stock prices for three companies in different industries. The average stock prices should have a wide range of values. Using the data, compute and interpret the coefficient of
5. Data obtained from a county auditor in the Excel file Home Market Value provides information about the age, square footage, and current market value of houses along one street in a particular
4. The Excel file Atlanta Airline Data provides arrival and taxi-in time statistics for one day at Atlanta Hartsfield International airport. Find the average and standard deviation of the difference
3. For the Excel file Tablet Computer Sales, find the average number, standard deviation, and interquartile range of units sold per week. Show that Chebyshev’s theorem holds for the data and
2. In the Excel file Facebook Survey, find the average and median hours online/week and number of friends in the sample using the appropriate Excel functions.Compute the midrange and compare all
1. Data obtained from a county auditor in the Excel file Home Market Value provide information about the age, square footage, and current market value of houses along one street in a particular
• Explain the nature of variation in sample data.
• Interpret variation in data from a logical and practical perspective.
• State the principles of statistical thinking.
• Identify outliers in data.
• Use the Excel Correlation tool.
• Calculate measures of covariance and correlation.
• Explain the importance of understanding relationships between two variables. Explain the difference between covariance and correlation.
• Use PivotTables to compute the mean, variance, and standard deviation of summarized data.
• Calculate a proportion.
• Calculate the mean, variance, and standard deviation for grouped data.
• Use the Excel Descriptive Statistics tool to summarize data.
• Interpret the coefficients of skewness and kurtosis.
• Explain the nature of skewness and kurtosis in a distribution.
• Define and compute the coefficient of variation.
• Compute a standardized value (z-score) for observations in a data set.
• State the Empirical Rules and apply them to practical data.
• Explain Chebyshev’s theorem.
• Compute the range, interquartile range, variance, and standard deviation of a set of data.
• List different measures of dispersion.
• Use measures of location to make practical business decisions.
• Compute the mean, median, mode, and midrange of a set of data.
• List different measures of location.
• Understand statistical notation.
28. Use PivotTables to find the number of sales transactions by product and region, total amount of revenue by region, and total revenue by region and product in the Sales Transactions database.
27. Use PivotTables to find the number of loans by different purposes, marital status, and credit risk in the Excel file Credit Risk Data. Illustrate the results on a PivotChart.
26. Use PivotTables to construct a cross-tabulation for marital status and housing type in the Excel file Credit Risk Data. Illustrate the results on a PivotChart.
25. Use PivotTables to construct a cross-tabulation for the purpose of the loan and credit risk in the Excel file Credit Risk Data. Illustrate the results on a PivotChart.
24. Construct cross-tabulations of Gender versus Carrier and Type versus Usage in the Excel file Cell Phone Survey. What might you conclude from this analysis?
23. Find the 10th and 90th percentiles and 1st, 2nd, and 3rd quartiles for the combined amounts of checking and savings accounts in the Excel file Credit Risk Data.
22. Find the 20th and 80th percentiles of home prices in the Excel file Home Market Value.
21. Find the 10th and 90th percentiles and the 1st and 3rd quartiles for the time difference between the scheduled and actual arrival times in the Atlanta Airline Data Excel file.

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