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Business Analytics 4th Edition Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann - Solutions

13. Clustering Colleges with k-Means. The Football Bowl Subdivision (FBS) level of the National Collegiate Athletic Association (NCAA) consists of over 100 schools.Most of these schools belong to one of several conferences, or collections of schools, that compete with each other on a regular basis
12. Hierarchical Clustering on Binary Variables. Using matching distance to compute dissimilarity between observations, apply hierarchical clustering employing group average linkage to the data in DemoKTC to create three clusters based on the Female, Married, Loan, and Mortgage variables. Report
11. k-Means Clustering of Bank Customers. Apply k-means clustering with values of k52, 3, 4, and 5 to cluster the data in DemoKTC based on the Age, Income, and Children variables. Normalize the values of the input variables to adjust for the different magnitudes of the variables. How many clusters
10. Association Rules on Congressional Voting Records. Freelance reporter Irwin Fletcher is examining the historical voting records of members of the U.S. Congress.For 175 representatives, Irwin has collected the voting record (yes or no) on 16 pieces of legislation. To examine the relationship
9. Association Rules for Bookstore Transactions. Leggere, an Internet book retailer, is interested in better understanding the purchase decisions of its customers. For a set of 2,000 customer transactions, it has categorized the individual book purchases comprising those transactions into one or
8. Comparing Different Linkage Methods. The Football Bowl Subdivision (FBS)level of the National Collegiate Athletic Association (NCAA) consists of over 100 schools. Most of these schools belong to one of several conferences, or collections of schools, that compete with each other on a regular
7. Interpreting Merge Steps from a Dendrogram. From 1946 to 1990, the Big Ten Conference consisted of the University of Illinois, Indiana University, University of Iowa, University of Michigan, Michigan State University, University of Minnesota, Northwestern University, Ohio State University,
6. Complete Linkage Clustering of Utility Companies. In an effort to inform political leaders and economists discussing the deregulation of electric and gas utilities, data on eight numerical variables from utility companies have been grouped using hierarchical clustering based on Euclidean
5. Dendrogram of Utility Companies. The regulation of electric and gas utilities is an important public policy question affecting consumer’s choice and cost of energy provider. To inform deliberation on public policy, data on eight numerical variables have been collected for a group of energy
4. Cluster Shapes for k-Means versus Single Linkage. Heidi Zahn is a human resources manager currently reviewing data on 98 employees. In the data, each observation consists of an employee’s age and an employee’s performance rating.a. Heidi applied k-means clustering with k 5 2 to the data and
3. Outliers’ Impact on Clustering. Sol & Nieve is a sporting good and outdoor gear retailer that operates in North America and Central America. In an attempt to characterize its stores (and re-assess Sol & Nieve’s supply chain operations), Gustavo Esposito is analyzing sales in 22 regions for
2. Distance to Centroid Calculation for Wine Clusters. Jay Gatsby categorizes wines into one of three clusters. The centroids of these clusters, describing the average characteristics of a wine in each cluster, are listed in the following table.Characteristic Cluster 1 Cluster 2 Cluster 3 Alcohol
1. k-Means Clustering of Wines. Amanda Boleyn, an entrepreneur who recently sold her start-up for a multi-million-dollar sum, is looking for alternate investments for her newfound fortune. She is considering an investment in wine, similar to how some people invest in rare coins and fine art. To
4. In centimeters, what is the minimum mean length between consecutive flaws that would result in a 1 in 100 chance that a randomly selected 1-meter segment of wire provided by the new supplier will be flawless?
3. In centimeters, what is the minimum mean length between consecutive flaws that would result in satisfaction of Gebhardt’s criteria?
2. Using the probability distribution you identified in (1), what is the probability that Gebhardt’s criteria will be met (i.e., a 1 in 20 chance that a randomly selected 1-meter segment of wire provided by the new supplier will be flawless)?
1. If the new supplier does provide spools of 0.20 mm solid OFE copper wire that average 127 centimeters between flaws, how is the length of wire between two consecutive flaws distributed?
3. What is the minimum number of salespeople Ms. McNeil should have on her lot on Saturday mornings to achieve her objective?
2. Suppose Ms. McNeil currently uses five salespeople on her lot on Saturday morning.Using the probability distribution you identified in (1), what is the probability that the number of customers who arrive on her lot will exceed the number of salespersons by more than two? Does her current
1. How is the number of customers who arrive in the lot on a Saturday morning distributed?
35. Vehicle Arrivals at an Intersection. The time between arrivals of vehicles at a particular intersection follows an exponential probability distribution with a mean of 12 seconds.a. Sketch this exponential probability distribution.b. What is the probability that the arrival time between vehicles
34. Exponential Distribution Calculations. Consider the following exponential probability density function:( )1 3f x 5 e2x /3 for x $ 0a. Write the formula for P(x # x0 ).b. Find P(x # 2).c. Find P(x $ 3).d. Find P(x # 5).e. Find P(2 # x # 5).
33. Probability of Defect. Suppose that Motorola uses the normal distribution to determine the probability of defects and the number of defects in a particular production process. Assume that the production process manufactures items with a mean weight of 10 ounces. Calculate the probability of a
32. Web Site Traffic. Assume that the traffic to the web site of Smiley’s People, Inc., which sells customized T-shirts, follows a normal distribution, with a mean of 4.5 million visitors per day and a standard deviation of 820,000 visitors per day.a. What is the probability that the web site has
31. IQ Scores and Mensa. A person must score in the upper 2% of the population on an IQ test to qualify for membership in Mensa, the international high IQ society. If IQ scores are normally distributed with a mean of 100 and a standard deviation of 15, what score must a person have to qualify for
30. Large-Cap Stock Fund Returns. Suppose that the return for a particular large-cap stock fund is normally distributed with a mean of 14.4% and standard deviation of 4.4%.a. What is the probability that the large-cap stock fund has a return of at least 20%?b. What is the probability that the
29. Project Completion Time. The Siler Construction Company is about to bid on a new industrial construction project. To formulate their bid, the company needs to estimate the time required for the project. Based on past experience, management expects that the project will require at least 24
28. Triangular Distribution Calculations. A random variable has a triangular probability density function with a 5 50, b 5 375, and m 5 250.a. Sketch the probability distribution function for this random variable. Label the points a 5 50, b 5 375, and m 5 250 on the x-axis.b. What is the
27. Bidding on a Piece of Land. Suppose we are interested in bidding on a piece of land and we know one other bidder is interested. The seller announced that the highest bid in excess of $10,000 will be accepted. Assume that the competitor’s bid x is a random variable that is uniformly
26. RAND Function in Excel. Most computer languages include a function that can be used to generate random numbers. In Excel, the RAND function can be used to generate random numbers between 0 and 1. If we let x denote a random number generated using RAND, then x is a continuous random variable
25. Uniform Distribution Calculations. The random variable x is known to be uniformly distributed between 10 and 20.a. Show the graph of the probability density function.b. Compute P(x , 15).c. Compute P(12 # x # 18).d. Compute E(x).e. Compute Var(x).
24. Small Business Failures. A regional director responsible for business development in the state of Pennsylvania is concerned about the number of small business failures. If the mean number of small business failures per month is 10, what is the probability that exactly 4 small businesses will
23. 911 Calls. Emergency 911 calls to a small municipality in Idaho come in at the rate of one every 2 minutes. Assume that the number of 911 calls is a random variable that can be described by the Poisson distribution.a. What is the expected number of 911 calls in 1 hour?b. What is the probability
22. Poisson Distribution Calculations. Consider a Poisson distribution with m 5 3.a. Write the appropriate Poisson probability mass function.b. Compute f(2).c. Compute f(1).d. Compute P(x $ 2).
21. Introductory Statistics Course Withdrawals. A university found that 20% of its students withdraw without completing the introductory statistics course. Assume that 20 students registered for the course.a. Compute the probability that two or fewer will withdraw.b. Compute the probability that
20. Acceptance Sampling. Many companies use a quality control technique called acceptance sampling to monitor incoming shipments of parts, raw materials, and so on. In the electronics industry, component parts are commonly shipped from suppliers in large lots. Inspection of a sample of n components
19. Binomial Distribution Calculations. Consider a binomial experiment with n 510 and p 5 0.10.a. Compute f(0).b. Compute f(2).c. Compute P(x # 2).d. Compute P(x $ 1).e. Compute E(x).f. Compute Var(x) and s .
18. Plant Expansion Decision. The J.R. Ryland Computer Company is considering a plant expansion to enable the company to begin production of a new computer product.The company’s president must determine whether to make the expansion a mediumor large-scale project. Demand for the new product is
17. Damage Claims at an Insurance Company. The probability distribution for damage claims paid by the Newton Automobile Insurance Company on collision insurance is as follows.Payment ($) Probability 0 0.85 500 0.04 1,000 0.04 3,000 0.03 5,000 0.02 8,000 0.01 10,000 0.01a. Use the expected collision
16. Expectation and Variance of a Random Variable. The following table provides a probability distribution for the random variable y.y f(y)2 0.20 4 0.30 7 0.40 8 0.10a. Compute E(y).b. Compute Var(y) and s.
15. Information Systems Job Satisfaction. The percent frequency distributions of job satisfaction scores for a sample of information systems (IS) senior executives and middle managers are as follows. The scores range from a low of 1 (very dissatisfied) to a high of 5 (very satisfied).Job
14. Unemployment Data. Suppose the following data represent the number of persons unemployed for a given number of months in Killeen, Texas. The values in the first column show the number of months unemployed and the values in the second column show the corresponding number of unemployed
13. Finding Oil in Alaska. An oil company purchased an option on land in Alaska. Preliminary geologic studies assigned the following prior probabilities.(high-quality oil) 0.50(medium-quality oil) 0.20(no oil) 0.30 PP P5 55a. What is the probability of finding oil?b. After 200 feet of drilling on
12. Prostate Cancer Screening. According to a 2018 article in Esquire magazine, approximately 70% of males over age 70 will develop cancerous cells in their prostate.Prostate cancer is second only to skin cancer as the most common form of cancer for males in the United States. One of the most
11. Credit Card Defaults. A local bank reviewed its credit-card policy with the intention of recalling some of its credit cards. In the past, approximately 5% of cardholders defaulted, leaving the bank unable to collect the outstanding balance. Hence, management established a prior probability of
10. Computing Probabilities. The prior probabilities for events A1 and A2 are P(A1) 5 0.40 and P(A2 ) 5 0.60. It is also known that P(A1ù A2 )5 0. Suppose P(B | A1) 5 0.20 and P(B | A2 ) 5 0.05.a. Are A1 and A2 mutually exclusive? Explain.b. Compute P(A1ù B) and P(A2 ù B).c. Compute P(B).d.
9. Probability of Homes Selling. Cooper Realty is a small real estate company located in Albany, New York, that specializes primarily in residential listings. The company recently became interested in determining the likelihood of one of its listings being sold within a certain number of days. An
8. U.S. Household Incomes. The U.S. Census Bureau is a leading source of quantitative data related to the people and economy of the United States. The crosstabulation below represents the number of households (thousands) and the household income by the highest level of education for the head of
7. Senior Data Scientist Position Applicants. The Human Resources Manager for Optilytics LLC is evaluating applications for the position of Senior Data Scientist. The file OptilyticsLLC presents summary data of the applicants for the position.Use a PivotTable in Excel to create a joint probability
6. Student Loans and College Degrees. More than 40 million Americans are estimated to have at least one outstanding student loan to help pay college expenses (CNNMoney web site). Not all of these graduates pay back their debt in satisfactory fashion. Suppose that the following joint probability
5. Intent to Pursue MBA. Students taking the Graduate Management Admissions Test(GMAT) were asked about their undergraduate major and intent to pursue their MBA as a full-time or part-time student. A summary of their responses is as follows:a. Develop a joint probability table for these data.b. Use
4. Two Events, A and B. Suppose that we have two events, A and B, with P(A) 5 0.50, P(B) 5 0.60, and P(A ù B) 5 0.40.a. Find P(A | B).b. Find P(B | A).c. Are A and B independent? Why or why not?
3. Ivy League College Admissions. Suppose that for a recent admissions class, an Ivy League college received 2,851 applications for early admission. Of this group, it admitted 1,033 students early, rejected 854 outright, and deferred 964 to the regular admission pool for further consideration. In
2. Rolling a Pair of Dice. Consider the random experiment of rolling a pair of dice. Suppose that we are interested in the sum of the face values showing on the dice.a. How many outcomes are possible?b. List the outcomes.c. What is the probability of obtaining a value of 7?d. What is the
1. Airline Performance Measures. On-time arrivals, lost baggage, and customer complaints are three measures that are typically used to measure the quality of service being offered by airlines. Suppose that the following values represent the on-time arrival percentage, amount of lost baggage, and
4. A scatter diagram to explore the relationship between Total Gross Sales and Number of Weeks in Release. Discuss.
3. A scatter diagram to explore the relationship between Total Gross Sales and Number of Theaters. Discuss.
2. A scatter diagram to explore the relationship between Total Gross Sales and Opening Weekend Gross Sales. Discuss.
1. Tabular and graphical summaries for each of the four variables along with a discussion of what each summary tells us about the movies that are released to theaters.
6. A side-by-side bar chart to examine the method of payment by customer type (regular or promotional). Comment on any differences you observe between the methods of payments used by the different types of customers.
5. A chart to examine whether the relationship between net sales and age depends on the marital status of the customer.
4. A scatter chart to explore the relationship between net sales and customer age.
3. A crosstabulation of type of customer (regular or promotional) versus net sales.Comment on any similarities of differences observed.
2. A sorted bar chart showing the number of customer purchases attributable to the method of payment.
1. Percent frequency distributions for each of the key variables: number of items purchased, net sales, method of payment, gender, marital status, and age.
26. Customers Ordering by Phone. Bravman Clothing sells high-end clothing products online and through phone orders. Bravman Clothing has taken a sample of 25 customers who placed orders by phone. The file Bravman contains data for each customer purchase, including the wait time the customer
25. Radiological Imaging Services Clinics. Aurora Radiological Services is a health care clinic that provides radiological imaging services (such as MRIs, X-rays, and CAT scans) to patients. It is part of Front Range Medical Systems that operates clinics throughout the state of Colorado.a. What
24. Customers Who Purchase Electronic Equipment. The file ZeitlersElectronics contains data on customers who purchased electronic equipment either online or in-store from Zeitler’s Department Stores.a. Create a parallel-coordinates plot for these data. Include vertical axes for the customer’s
23. Online Customers versus In-Store Customers. Zeitler’s Department Stores sells its products online and through traditional brick-and-mortar stores. The following parallel-coordinates plot displays data from a sample of 20 customers who purchased clothing from Zeitler’s either online or
22. Global 100 Companies. For this problem we will use the data in the file Global100 that was referenced in Section 3.4 as an example for creating a treemap. Here we will use these data to create a GIS chart. A portion of the data contained in Global100 is shown below.Use Excel to create a GIS
21. NFL Attendance. Below is a sample of the data in the file NFLAttendance which contains the 32 teams in the National Football League, their conference affiliation, their division, and their average home attendance.a. Create a treemap using these data that separates the teams into their
20. Revenues of Web Development Companies. The following table shows monthly revenue for six different web development companies.a. Use Excel to create sparklines for sales at each company.b. Which companies have generally decreasing revenues over the six months? Which company has exhibited the
19. Marketing Survey Results. Heat maps can be very useful for identifying missing data values in moderate to large data sets. The file SurveyResults contains the responses from a marketing survey: 108 individuals responded to the survey of 10 questions. Respondents provided answers of 1, 2, 3, 4,
18. R&D Project Portfolio. The Ajax Company uses a portfolio approach to manage their research and development (R&D) projects. Ajax wants to keep a mix of projects to balance the expected return and risk profiles of their R&D activities. Consider a situation in which Ajax has six
17. Store Manager Tasks. The Northwest regional manager of Logan Outdoor Equipment Company has conducted a study to determine how her store managers are allocating their time. A study was undertaken over three weeks that collected the following data related to the percentage of time each store
15. Engine Type Preference. An automotive company is considering the introduction of a new model of sports car that will be available in four-cylinder and six-cylinder engine types. A sample of customers who were interested in this new model were asked to indicate their preference for an engine
14. Pie Chart Alternatives. The total number of term life insurance contracts sold in Problem 13 is 199. The following pie chart shows the percentages of contracts sold by each salesperson.a. What are the problems with using a pie chart to display these data?b. What type of chart would be preferred
13. Term Life Insurance. The following table contains sales totals for the top six term life insurance salespeople at American Insurance.a. Create a column chart to display the information in the table above. Format the column chart to best display the data by adding axes labels, a chart title,
12. Price of Gasoline. The following table contains time series data for regular gasoline prices in the United States for 36 consecutive months:a. Create a line chart for these time series data. What interpretations can you make about the average price per gallon of conventional regular gasoline
11. Vehicle Production Data. The International Organization of Motor Vehicle Manufacturers(officially known as the Organisation Internationale des Constructeurs d’Automobiles, OICA) provides data on worldwide vehicle production by manufacturer. The following table shows vehicle production numbers
10. Profits and Market Capitalizations. The file Fortune500 contains data for profits and market capitalizations from a recent sample of firms in the Fortune 500.a. Prepare a scatter diagram to show the relationship between the variables Market Capitalization and Profit in which Market
9. Scatter Chart and Trendline. The following 20 observations are for two quantitative variables, x and y.a. Create a scatter chart for these 20 observations.b. Fit a linear trendline to the 20 observations. What can you say about the relationship between the two quantitative variables? Observation
8. Federally Insured Bank Failures. The file FDICBankFailures contains data on failures of federally insured banks between 2000 and 2012. Create a PivotTable in Excel to answer the following questions. The PivotTable should group the closing dates of the banks into yearly bins and display the
7. Tax Data by County. The file TaxData contains information from federal tax returns filed in 2007 for all counties in the United States (3,142 counties in total). Create a PivotTable in Excel to answer the questions below. The PivotTable should have State Abbreviation as Row Labels. The Values in
6. Mutual Funds Data. The file MutualFunds contains a data set with information for 45 mutual funds that are part of the Morningstar Funds 500. The data set includes the following five variables:Fund Type: The type of fund, labeled DE (Domestic Equity), IE (International Equity), and FI (Fixed
5. Top U.S. Franchises. Entrepreneur magazine ranks franchises. Among the factors that the magazine uses in its rankings are growth rate, number of locations, start-up costs, and financial stability. A recent ranking listed the top 20 U.S. franchises and the number of locations as follows: 1,864
4. Business Graduates Salaries. In the file MajorSalary, data have been collected from 111 College of Business graduates on their monthly starting salaries. The graduates include students majoring in management, finance, accounting, information systems, and marketing. Create a PivotTable in Excel
3. Monthly Revenue Data. The following table provides monthly revenue values for Tedstar, Inc., a company that sells valves to large industrial firms. The monthly revenue data have been graphed using a line chart in the following figurea. What are the problems with the layout and display of this
2. Gross Domestic Product Values. The following table shows an example of gross domestic product values for five countries over six years in equivalent U.S. dollars ($).a. How could you improve the readability of this table?b. The file GDPYears contains sample data from the United Nations
1. Sales Performance Bonuses. A sales manager is trying to determine appropriate sales performance bonuses for her team this year. The following table contains the data relevant to determining the bonuses, but it is not easy to read and interpret. Reformat the table to improve readability and to
4. A scatter diagram to explore the relationship between Total Gross Sales and Number of Weeks in Release. Discuss. TABLE 3.14 Performance Data for Ten 2016 Movies Released to Theaters Opening Gross Sales Movie Title ($ Million) Total Gross Sales ($ Million) Number of Weeks in Theaters Release
3. A scatter diagram to explore the relationship between Total Gross Sales and Number of Theaters. Discuss.
2. A scatter diagram to explore the relationship between Total Gross Sales and Opening Weekend Gross Sales. Discuss.
1. Tabular and graphical summaries for each of the four variables along with a discussion of what each summary tells us about the movies that are released to theaters.
26. Customers Ordering by Phone. Bravman Clothing sells high-end clothing products online and through phone orders. Bravman Clothing has taken a sample of 25 customers who placed orders by phone. The file Bravman contains data for each customer purchase, including the wait time the customer
25. Radiological Imaging Services Clinics. Aurora Radiological Services is a health care clinic that provides radiological imaging services (such as MRIs, X-rays, and CAT scans) to patients. It is part of Front Range Medical Systems that operates clinics throughout the state of Colorado.a. What
24. Customers Who Purchase Electronic Equipment. The file ZeitlersElectronics contains data on customers who purchased electronic equipment either online or in-store from Zeitler’s Department Stores.a. Create a parallel-coordinates plot for these data. Include vertical axes for the customer’s
23. Online Customers versus In-Store Customers. Zeitler’s Department Stores sells its products online and through traditional brick-and-mortar stores. The following parallel-coordinates plot displays data from a sample of 20 customers who purchased clothing from Zeitler’s either online or
22. Global 100 Companies. For this problem we will use the data in the file Global100 that was referenced in Section 3.4 as an example for creating a treemap. Here we will use these data to create a GIS chart. A portion of the data contained in Global100 is shown below.Use Excel to create a GIS
21. NFL Attendance. Below is a sample of the data in the file NFLAttendance which contains the 32 teams in the National Football League, their conference affiliation, their division, and their average home attendance.a. Create a treemap using these data that separates the teams into their

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