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Business Analytics 2nd Global Edition James R. Evans - Solutions
Use data tables to analyze uncertainty in decision models.
Use the Excel Scenario Manager to evaluate different model scenarios.
Apply the Excel Goal Seek tool for break-even analysis and other types of models.
Create data tables and tornado charts using Analytic Solver Platform.
Use Excel tools to create user-friendly Excel models and applications.
Develop a spreadsheet model for gasoline usage scenario, Problem 4 in Chapter 1, using the data provided. Apply the principles of spreadsheet engineering in developing your model.
Develop a spreadsheet model for Problem 5 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.
A company records the following components of fixed and variable costs for a product.Fixed Cost(in dollars): Plaint Maintenance - 15,000 Salaries - 40,000 Depreciation - 100,000 Rent - 8,000 Manufacturing expenses - 12,000 Advertising - 5,000 Administrative expenses - 20,000 Variable Cost per unit:
For inventory problems, the cost is a function of the order size. A company has collected the following data for one of its product.Annual requirement, R = 12,000 Ordering cost per order, S = 150 Cost per unit, C = 4 Carrying cost per unit, I = 0.20 Quantity ordered per order, Q = 100 Develop a
Thomas wants to predict the sales figures of his company for the upcoming year. On the basis of historical data, he concludes that a linear function passes through the observed data points for the first and sixth years. The sales figure for the first year is$24,000, and for the sixth year is
A stockbroker calls on potential clients from referrals.For each call, there is a 10% chance that the client will decide to invest with the firm. Fifty-five percent of those interested are found not to be qualified, based on the brokerage firm’s screening criteria.The remaining are qualified. Of
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 gift levels:Gift Level Amount Average Number of Gifts Benefactor $10,000 3 Philanthropist $5,000 10
Apply the data-validation tool to the Bank Data Excel file with an error alert message box to ensure that a two-digit number is correctly entered under Age, the data entered under ZipCode should not exceed 5 digits, and the Education field takes the values 1, 2 and 3 for ‘undergraduate’,
Insert a spin button in the car lease purchase model to change the discount rate in cell F8 from 1% to 10% in increments of one-tenth.
For the Pro Forma Income Statement model in the Excel file Net Income Models (Figure 11.7), add a scroll bar form control to allow the user to easily change the level of sales from 3,000,000 to 10,000,000 in increments of 1,000 and recalculate the spreadsheet. (Hint: the scroll values must be
The Excel sheet Travelling Salesman contains data on cost incurred by salesman on travelling from one city to another. Using this data matrix, add list box controls so that manager can choose two cities and find the cost of travelling between them. (Hint: Set the cell links to be any blank cells as
Problem 15 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 the model D = 2,500 - 3P The accounting department estimates that the total costs can be represented by C
Problem 16 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 decreases, demand increases, and vice versa. One major airline has found that when the price (p) for a
Develop a spreadsheet model for determining value, using the simple valuation function Value = D/(r - g), where r is the discount rate =10% and g is the growth rate = 4% and D is dividend = 1.25. Use a two-way data table to determine value if g varies from 1% to 5% in increments of 1, and r varies
The booking price for motivational seminar (held every week) is charged at $650 per booking, with maximum seats = 100.The total cost for arranging such a seminar comes to $35,000 per week. The manager offers 10%discount on group bookings, allowing 5 seats per group.On an average, he receives 2 to
For the Koehler Vision Associates model you developed in Problem 13, use data tables to study how revenue is affected by changes in the number of appointments accepted and patient demand.
For the stockbroker model you developed in Problem 10, use data tables to show how the commission is a function of the number of calls made.
For the nonprofit ballet company fundraising model you developed in Problem 11, use a data table to show how the amount varies based on the number of solicitations.
For the garage-band model you developed in Problem 7, define and run some reasonable scenarios using the Scenario Manager to evaluate profitability for the following scenarios:Scenarios for Problem 31 Likely Optimistic Pessimistic Expected Crowd 3000 4500 2500 Concession Expenditure $15 $20 $12.50
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 needs to evaluate the profitability of a proposed location that would be leased for 5 years. An Excel
For the garage-band model in Problem 7, construct a tornado chart and explain the sensitivity of each of the model’s parameters on total profit.
For the new-product model in Problem 9, construct a tornado chart and explain the sensitivity of each of the model’s parameters on the NPV of profit.
• Create Microsoft Excel charts.
• Determine the appropriate chart to visualize different types of data.
• Sort a data set in an Excel spreadsheet.
• Apply the Pareto Principle to analyze data.
• Use the Excel Autofilter to identify records in a database meeting certain characteristics.
• Explain the science of statistics and define the term statistic.
• Construct a frequency distribution for both discrete and continuous data.
• Construct a relative frequency distribution and histogram.
• Compute cumulative relative frequencies.
• Find percentiles and quartiles for a data set.
• Construct a cross-tabulation (contingency table).
• Use PivotTables to explore and summarize data.
• Use PivotTables to construct a cross-tabulation.
• Display the results of PivotTables using PivotCharts.
The Excel file Traveler contains the months of a year and the number of travelers that arrive by flight in the morning (AM) and the evening (PM). Prepare a line chart showing the number of AM and PM travelers for each month.
The Excel file Sales contain list of the products in different regions. Sort the list of products in ascending order of the sales volume in Asia. Arrange the regions(from left to right) in ascending order for the sales volume of Product 5 and determine which region has the highest sales.
The Excel file Expenditure shows the spending of a country on various sports during a particular year.Create a pie chart and determine the percentage of total spending on tennis.
The Excel file McDonald’s contains the monthly sales data of their burgers in a year. Construct the histogram and predict which type of burger has the highest sale.
Convert the Store and Regional Sales database to an Excel table. Use the techniques described in Example 3.11 to find:a. the total number of units soldb. the total number of units sold in the South regionc. the total number of units sold in December
Convert the Purchase Orders database to an Excel table. Use the techniques described in Example 3.11 to find:a. the total cost of all ordersb. the total quantity of airframe fasteners purchasedc. the total cost of all orders placed with Manley Valve.
The total runs scored by 30 players in a test cricket match in the year 2011 were recorded to determine which score was the highest and which the lowest.The runs are:423, 369, 387, 411, 393, 394, 371, 377, 389, 409, 392, 408, 431, 401, 363, 391, 405, 382, 400, 381, 399, 415, 428, 422, 396, 372,
The Excel sheet Engagement contains the number of rings sold each day of the week in a jewelry store chain in different cities across India. Use sparklines to summarize the data.
A community health-status survey obtained the following demographic information from the respondents:Age Frequency 18 to 29 297 30 to 45 743 46 to 64 602 65 369 Compute the relative frequency and cumulative relative frequency of the age groups.
The Excel sheet Sampling contains the responses on a scale of 1 to 5 from consumers regarding a product.Construct a cluttered pivot table, and show the sampling data in the histogram.
Using the data in the Excel sheet Hardware Store, construct a pivot table and calculate the percentage of sales , the total revenue generated in the month of March and the percentage of sales for the month of August.
A marketing researcher surveyed 92 individuals, asking them if they liked a new product concept or not.The results are shown below:Yes No Male 30 50 Female 6 6 Convert the data into percentages. Then construct a chart of the counts and a chart of the percentages. Discuss what each conveys visually
PLE originally produced lawn mowers, but a significant portion of sales volume over recent years has come from the growing small-tractor market. As we noted in the case in Chapter 1, PLE sells their products worldwide, with sales regions including North America, South America, Europe, and the
As noted in the case in Chapter 1, the supply chain worksheets provide cost data associated with logistics between existing plants and customers as well as proposed new plants. Ms. Burke wants you to extract the records associated with the unit shipping costs of proposed plant locations and compare
Ms. Burke would also like a quantitative summary of the average responses for each of the customer attributes in the worksheet 2014 Customer Survey for each market region as a cross-tabulation (use PivotTables as appropriate), along with frequency distributions, histograms, and quartiles of these
Propose a monthly dashboard of the most important business information that Ms. Burke can use on a routine basis as data are updated. Create one using the most recent data. Your dashboard should not consist of more than 6–8 charts, which should fit comfortably on one screen.Write a formal report
Explain how judgmental approaches are used for forecasting.
List different types of statistical forecasting models.
Apply moving average and exponential smoothing models to stationary time series.
State three error metrics used for measuring forecast accuracy and explain the differences among them.
Apply double exponential smoothing models to time series with a linear trend.
Use Holt-Winters and regression models to forecast time series with seasonality.
Apply Holt-Winters forecasting models to time series with both trend and seasonality.
Identify the appropriate choice of forecasting model based on the characteristics of a time series.
Explain how regression techniques can be used to forecast with explanatory or causal variables.
Apply XLMiner to different types of forecasting models.Forecasting Techniques 9
Search the Conference Board’s Web site to find business cycle indicators, and the components and methods adopted to compute the same. Write a short report about your findings.
The Excel file New Registered Users provides data on monthly new registrations on a Web site for four years. Compare the three-month and twelve-month moving average forecasts using the MAD criterion.Explain which model yields better results and why.
Consider the data in the Excel file Internet Users.Use simple linear regression to forecast the data.What would be the forecast for the next three years?
Develop a multiple linear regression model with categorical variables that incorporate seasonality for forecasting the deaths caused by accidents in the U.S.Use the data for years 1976 and 1977 in the Excel file Accidental Deaths. Use the model to generate forecasts for the next nine months, and
The Excel file Census Data provides annual average expenditures and income levels of the people in the U.S. Develop forecasting models for each of the data type. What do your models predict for the next two years?.
Choose an appropriate forecasting technique for the data in the Excel file Inflation Rates US and find the best forecasting model. Explain how you would use the model to forecast, and how far into the future it would be appropriate to forecast.
Choose an appropriate forecasting technique for the data in the Excel file Gaussian Response and find the best forecasting model. Explain how you would use the model to forecast and how far into the future it would be appropriate to forecast.
An important part of planning manufacturing capacity is having a good forecast of sales. Elizabeth Burke is interested in forecasting sales of mowers and tractors in each marketing region as well as industry sales to assess future changes in market share. She also wants to forecast future increases
Explain the concept of probability and provide examples of the three definitional perspectives of probability.
Use probability rules and formulas to perform probability calculations.
Explain conditional probability and how it can be applied in a business context.
Compute conditional probabilities from crosstabulation data.
Determine if two events are independent using probability arguments.
Apply the multiplication law of probability.
Define a probability distribution.
Verify the properties of a probability mass function.
Use the cumulative distribution function to compute probabilities over intervals.
Compute the expected value and variance of a discrete random variable.
Use expected values to support simple business decisions.
Calculate probabilities for the Bernoulli, binomial, and Poisson distributions, using the probability mass function and Excel functions.
Explain how a probability density function differs from a probability mass function.
List the key properties of probability density functions.
Use the probability density and cumulative distribution functions to calculate probabilities for a uniform distribution.
Describe the normal and standard normal distributions and use Excel functions to calculate probabilities.
Use the standard normal distribution table and z-values to compute normal probabilities.
Describe properties of the exponential distribution and compute probabilities.
Give examples of other types of distributions used in business applications.
Sample from discrete distributions in a spreadsheet using VLOOKUP.
Use Excel’s Random Number Generation tool.
Generate random variates using Analytic Solver Platform functions.
Fit distributions using Analytic Solver Platform.
a. A die is rolled. Find the probability that the number obtained is greater than 4.b. Two coins are tossed. Find the probability that only one head is obtained.c. Two dice are rolled. Find the probability that the sum is equal to 5.d. A card is drawn at random from a deck of cards.Find the
Consider the experiment of drawing two cards without replacement from a deck consisting of only the ace through 10 of a single suit (e.g., only hearts).a. Describe the outcomes of this experiment. List the elements of the sample space.b. Define the event Ai to be the set of outcomes for which the
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