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Business Analytics Methods Models And Decisions 1st Edition James R. Evans - Solutions
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 that respondent is a male?b. What is the probability that a respondent drives a minivan?c. What is
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 unemployed)d. Are the events “unemployed” and “at least a high school graduate” independent?
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 472a. Find the probabilities that a sale originated in each of the four regions and the probability
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 educational levels listed in the data.b. Suppose that A is the event “has at least an Associate’s
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. What is the probability that an individual owns neither stocks nor mutual funds?c. What is the
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 that a flight is early? On time? Late? Canceled?b. Are these outcomes mutually exclusive?c. What is
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 a shallow bowl with a curved wall. A small ball is spun on the inside of the wall and drops into a
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 heads.” Find P(C).d. Are the events A and B mutually exclusive? Find P(A or B).e. Are the events A
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 one respondent?b. What is the probability that one respondent will rank Red Bull first?c. What is
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 elements of the sample space.b. What is the probability of obtaining a total of 5 for the two
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 the probability that her next drink will be a diet cola? Lemonade? Root beer?b. What definition of
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 syringes and sealed with a rubber stopper.The remaining stage involves insertion of the cartridge
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 cards (starting with a full deck each time); compute the mean and variance and construct a histogram.
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 chart, add the control limits, and interpret your results.
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? Why or why not?
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 country 1M = Midwest, S = South2 for closings during one month. Use PivotTables to find the average
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 amount of money in the bank. Interpret your results.
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 former employees at one of the bank’s call centers (see the Excel file Call Center Data). Use
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 to find the following:a. the average signal strength by type of carrierb. average value for the
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 different colleges at this university. What conclusions do you reach?
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 year?
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 be useful in advertising? Explain how and why or why not.
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 proportion that purchased a DVD.
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 for the total employment and in each profession.
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 children’s clothing per year: 200 responses • spent $500–$999.99 on children’s clothing per
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) and (4.15) on a spreadsheet, assuming these data represent the entire population of parishioners.
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 distribution and histogram of the data.a. Summarize the data using the Descriptive Statistics tool. What can
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 variation.
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 subdivision.a. Considering these data as a sample of homeowners on this street, compute the mean,
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 between the scheduled and actual arrival times and the taxi-in time to the gate. Compute the
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 determine how accurate the empirical rules are.
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 measures of location.
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 subdivision. Considering these data as a population of homeowners on this street, compute the mean,
• 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.
20. Construct frequency distributions and histograms using the Excel Histogram tool for the Gross Sales and Gross Profit data in the Excel file Sales Data.
19. Use the Histogram tool to develop a frequency distribution and histogram for the number of months as a customer of the bank in the Excel file Credit Risk Data.Compute the relative and cumulative relative frequencies and use a line chart to construct an ogive.
18. Use the Histogram tool to develop a frequency distribution and histogram for the age of individuals in the Excel file Credit Risk Data. Compute the relative and cumulative relative frequencies and use a line chart to construct an ogive.
17. Construct frequency distributions and histograms for the numerical data in the Excel file Cell Phone Survey. Also, compute the relative frequencies and cumulative relative frequencies.
16. A community health-status survey obtained the following demographic information from the respondents:Age Frequency 18 to 29 297 30 to 45 661 46 to 64 634 65 369 Compute the relative frequency and cumulative relative frequency of the age groups.
15. Use the Histogram tool to construct a frequency distribution of sales amounts in the Sales Transactions database.
14. Use the COUNTIF function to construct a frequency distribution of the types of loans in the Excel file Credit Risk Data and develop a column chart to express the results visually.
13. The Excel file Credit Risk Data provides information about bank customers who had applied for loans.5 The data include the purpose of the loan, checking and savings account balances, number of months as a customer of the bank, months employed, gender, marital status, age, housing status and
12. In the Sales Transactions database, use Excel’s filtering capability to extract all orders that used PayPal, all orders over $100, and all orders that were over $100 and used a credit card.
11. Use Excel’s filtering capability to extract all orders for control panels and all orders for quantities of less than 500 units in the Purchase Orders database.
10. In the Purchase Orders database, conduct a Pareto analysis of the Cost per order data. What conclusions can you reach?
9. Sort the data in the Excel file Automobile Quality from lowest to highest number of problems per 100 vehicles using the sort capability in Excel.
8. Construct an appropriate chart to show the proportion of funds in each investment category in the Excel file Retirement Portfolio.
7. The Excel file Internet Usage provides data about users of the Internet. Construct appropriate charts that will allow you to compare any differences due to age or educational attainment and draw any conclusions that you can.
6. Construct a column chart for the data in the Excel file State Unemployment Rates to allow comparison of the June rate with the historical highs and lows. Would any other charts be better to visually convey this information? Why or why not?
5. Create a bubble chart for the first five colleges in the Excel file Colleges and Universities for which the x-axis is the Top 10% HS, y-axis is Acceptance Rate, and bubbles represent the Expenditures per Student.
4. 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 country (Midwest, South) for closings during one month. Construct a scatter diagram showing the
3. The Excel file Facebook Survey provides data gathered from a sample of college students. Create a scatter diagram showing the relationship between Hours online/week and Friends.
2. Create a pie chart showing the breakdown of occupations in the Science and Engineering Jobs Excel file.
1. Create line charts for the closing prices in the Excel file S&P 500.
• Construct a cross-tabulation (contingency table).
12. MasterTech is a new software company that develops and markets productivity software for municipal government applications. In developing their income statement, the following formulas are used:gross profit net sales cost of sales net operating profit gross profit administrative
11. Develop a spreadsheet model to determine how much a person or a couple can afford to spend on a house.8 Lender guidelines suggest that the allowable monthly housing expenditure should be no more than 28% of monthly gross income.From this, you must subtract total nonmortgage housing expenses,
10. Develop a spreadsheet model for Problem 13 in Chapter 1. Apply the principles of spreadsheet engineering in developing your model. Use the spreadsheet to create a table for a range of prices to help you identify the price that results in the maximum revenue.
9. Develop a spreadsheet model for Problem 12 in Chapter 1, using the data provided.Apply the principles of spreadsheet engineering in developing your model.
8. Example 1.5 in Chapter 1 provided data from an experiment to identify the relationship between sales and pricing, coupon, and advertising strategies. Enter the data into a spreadsheet and implement the model in the example within your spreadsheet to estimate the sales for each of the weekly
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