Questions and Answers of Business Analytics Data

Answer the following questions about hypothesis testing. Assume that:Ho: The company’s ROA is the same as the industry’s average ROA.HA: The company’s ROA is not the same as the industry’s
Let’s analyze all of the sales transactions together. In Excel, calculate descriptive statistics for sales price, cost, gross margin, and gross margin percentage for all sales transactions. Use the
Which of the following is used to test for a difference of means between three or more groups?a. T-testb. Regression analysisc. ANOVA testd. Correlation
Managers want a visualization showing the total number of employees aggregated by the following age groups: < 18, 18–30, 31–50, 51–65, > 65. To create this visualization, would you use a
Let’s analyze the sales transactions by SKU. Create a pivot table in Excel showing the average sales price, cost, gross margin, gross margin percentage for each SKU. For ease of use, format all
Which of the following is the base case with the assumption that the hypothesized relationship does not exist, that there is no significant difference between two samples or populations?a. Null
Let’s analyze the transactions by product (SKU). Create a pivot table in Excel showing how many units were sold for each SKU. Use the pivot table to answer the following questions:a. Which product
To prepare its payroll, a company requires all of its employees to submit a weekly, digital time sheet showing hours worked down by task. Are the data collected by the time sheets an example of
Every observation in the population has an equal chance of being selected into the sample in which type of sampling method?a. Cluster samplingb. Stratified samplingc. Simple random samplingd.
Let’s filter the data by customer. Make a copy of the data worksheet. Name the new worksheet tab Filter. Create a filter for customer number 3013. Copy the resulting data into row 235 (so you can
Assume that a company wants to collect customer survey data by state. The company knows that all customers will not respond. It also wants to make sure that responses are included from customers in
What is the name of the tool that you can use for quickly calculating statistics in Excel (other than Excel functions)?a. Summary Cardb. Descriptive Statisticsc. Regressiond. T-test
Management of Skydio thinks that the top 10 SKUs ranked by gross margin have a significantly different average gross margin than the bottom ten SKUs. Using the Data Analysis ToolPak, conduct a
Label each of the following examples of predictive analytics techniques as classification, regression, or time series analysis. Example of Predictive Analytics Loan acceptance/loan rejection Interest
Match each analytics type (descriptive or diagnostic) to the techniques used. Analytics Technique Used Counts Correlation Sum total Horizontal analysis Regression Standard deviation Vertical
Match the analytics type (descriptive, diagnostic, predictive, prescriptive, adaptive/autonomous) to the question it addresses. Example Accounting Question Should we extend credit to a supplier? Will
Name the diagnostic analytics technique used to answer the following business questions. Choose from this list: correlation, regression, hypothesis testing. Business Questions What is the
Match each analytics type (descriptive or diagnostic) to the techniques used. Technique/Analysis Used Ratio analysis Benford's Law Percentage change Pivot table to find the most profitable product or
Which predictive analytics technique would a data analyst use to place a company’s customers into different segments or categories?a. Classificationb. Regressionc. Time series analysisd. What-if
What type of analytics addresses the question of whether an audit firm should accept or reject an audit client?a. Descriptive analyticsb. Diagnostic analyticsc. Predictive analyticsd. Prescriptive
Why is understanding what happened (descriptive analytics) important to understanding why something happened (diagnostic analytics)?
Suggest operations analytics questions (that is, questions pertaining to the manufacturing and sale of products) that Samsung might address using each of the following prescriptive analytics
In vertical analysis, what is the relevant base for cost of goods sold?a. Net Sales revenueb. Total assetsc. Total stockholders’ equityd. Total credit sales
Which type of analytics emphasizes totals, sums, averages, and sum totals? Provide an example.
The cost of a car battery is a major component of the cost of an electric car. Which confirmatory analytics techniques (including prescriptive analytics and predictive analytics) should a business
Which of the following expresses financial information in relation to some relevant figure or base?a. Vertical analysisb. Horizontal analysisc. Ratio analysisd. A pivot table
Which type of analytics works to uncover previously unknown relationships and linkages among variables? Provide an example.
Descriptive analytics.a. Summarizes the relevant data.b. Uncovers patterns in the relevant data.c. Conducts what-if scenarios regarding the relevant data.d. Performs cash-flow analysis for the
Contrast exploratory and confirmatory business analytics. How are they different from each other?
From which system would a company likely get data identifying the customer with the highest dollar amount of orders in the past month?a. Customer relationship management systemb.
Suppose we are interested in investigating whether a social media advertising campaign was more effective than a traditional media campaign in creating additional revenues. To answer this question,
According to Benford’s Law, which one of these first digits has a lower probability of occurrence than the first digit “5”?a. 3b. 2c. 4d. 9
How does a bank reconciliation use anomalies and outliers to find items that need to be reconciled? Which type of analytics does a bank reconciliation represent?
Evaluating an uncertain relationship between advertising expenditures and net income each year is an example of:a. Performing drill-down detailed analytics.b. Determining relations/patterns/linkages
Given the role of descriptive analytics in addressing the questions “What happened?” and “What is Happening?” how do the Excel commands SUM(), COUNTIF(), and AVERAGE() help analysts answer
Which type of analytics is more likely to summarize and explain prior performance.a. Exploratoryb. Probabilisticc. Confirmatoryd. Advanced
If p-value ≤ alpha threshold, you should a. Reject the null hypothesis; the result is significant.b. Fail to reject the null hypothesis; the result is not significant.c. Reject the null
An insurance company is estimating the risk model based on customer age is define as R = aebx where a is a fixed constant and b is a constant that depends on the customer age. They categorize the age
A pharmacist believes that in manufacturing a pill or tablet medicine, the need for an active ingredient in each pill is less than 14 milligrams. She selects a random sample of 15 pills and
Discuss the use of business analytics in sports, such as tennis, cricket, swimming, and football. Identify as many opportunities as you can for each.
A survey was conducted to identify the type of movies watched by 15 people in the past two weeks. If the type of movie watched by one person is different from the others, then the code 1 will be
Swissotel, London, is working on improving customer satisfaction and engagement. At the same time, Swissotel wants to ensure that the staff members are also satisfied. It has noticed that there are
How might analytics be used in the following situations?a. Planning a businessb. Understanding customer behaviorc. Solving human resource problems
For each of the following scenarios, state whether descriptive, predictive, or prescriptive analytics tools would most likely be used.a. An insurance firm wants to analyze fraudulent claims to
A survey was conduct for determine the number of vegetarians and non-vegetarians between two different group of age of people. The survey results the followingsConvert the data into percentages for
The amount of time it took 25 respondents to solve a particular task has been recorded in the following table:Develop a table to estimate the sample mean and sample standard deviation of the time
The students at Skövde University, Sweden, have elected five candidates to represent them on the college management council. The committee summarized the age and gender of the members as
Padini Concept, a local retail store in Malaysia, recorded the number of shoes purchased by customers (1 pairs, 2 pairs and 3 pairs) based on the number of clothes purchased (1, 2, and 3) for a
The yearly government tax revenue (in $ millions) depends on customer income, business profits, and capital gains defined as tax = -2.556 + 3.799 * income + 1.583 * profit + 0.739 * capital.a.
In a toy manufacturing company, the manufacturer needs to pay rent (p) each month and monthly electricity (q). To produce each toy, the company incurs costs for plastic (r) and for cloth (s). The
A teacher recorded the amount of time taken by 21 students to complete a sprint race, to the nearest second, as follows:■ Two students: between 51 and less than 56 seconds■ Seven students:
Airbnb is an online marketplace for arranging or offering lodging, primarily homestays, or tourism experiences. Airbnb provides a platform for hosts to accommodate guests with short-term lodging and
In the past week, an ice-cream kiosk sold 15 cups of chocolate flavor, 22 cups of vanilla, and 13 cups of strawberry.a. Estimate the probability of sale of each flavor for the following week.b.
A manufacturer of automobiles is bringing out a new model. To create its advertising campaign, the manufacturer wants to determine whether the model’s appeal will be dependent on a particular age
Sue and Dave always spend their evenings together, either cycling or playing computer games. On an evening with good weather, the probability that Sue prefers cycling is 0.7 and for Dave it is 0.4.
A grocery shop is taking stock of its inventory. The shopkeeper found that out of 120 tins with damaged labels, there are 50 tins of beans, 20 tins of sardines, 35 tins of processed meat, and the
A transport company is inspecting 80 trucks it owns. The inspection determines that the probability of trucks failing the inspection is 0.25. Find the probability that not more than 10 trucks failed
A research group in Sweden estimated that almost 1.5 million people in Sweden have used Netflix from September to December 2018. Formulate an appropriate one-sample test of hypothesis to test this.
Four call service representatives were monitored over a period of three months. After each call, every customer was asked whether they were satisfied with the service by answering “Yes” or
An analyst at a business school in France is assessing students’ performance. Historical records of applicants suggest that the mean score obtained by students attending the school is 350. The
A marine biologist wants to use a parrotfish for research purposes as she believes that the variability of weights among parrotfish is small. From a random sample of 50 parrotfish, she found that
The Social Health Group is a nonprofit organization that conducts health talks for the local public. The organization conducts these talks at two different venues: Iron Age Hall and Virtual Town
FujiFarm produces four types of vegetables with variable costs of $2.80, $3.54, $1.07, and $2.23 per acre. Due to an increment in the cost of fertilizers, the variable cost of each of the vegetables
A front office receptionist of a given company answers the incoming calls on multi-line telephones. The number of calls successfully attended by the receptionist within each 5-minute period is
Starbucks coffee company uses three types of cup sizes for selling its bestseller drink Mocha Frappuccino: Tall, (8 ounces), Grande (12 ounces), Venti (16 ounces), which have unit profits of $0.60,
A gum manufacturer claims that on average the flavor of an entire packet of its gum would last for more than 39 minutes. A quality controller selects a random sample of 55 packets of gum. She finds
A diet program claims that the average amount of water that a person on a diet should drink each day to lose weight is 4 liters. A random sample of 13 people enrolled in the diet program found that
A leading car manufacturer tracks the data of its used cars for resale. The Excel file Car Sales contains information on the selling price of the car, fuel type (diesel or petrol), horsepower (HP),
Compute the Euclidean distance between the following set of points:a. (1.06, 9.2) and (0.89, 10.3)b. (1.6, 0.628, 9.077) and (2.2, 1.555, 5.088)
Malaysia’s state water tariffs are one of the cheapest in comparison to its neighbor countries. The cost of a meter installation is RM10 per household. The daily cost of supplying water is assumed
DemiGod Shipping Company forecasts a 10% increase in its sales over the year 2019. Its assets and liabilities, at the end of 2018, amount to $20 billion and $7 billion respectively. Sales for this
Most cake recipes have the basic ingredients of eggs, oil, flour, and milk. Susan just baked a cake, using 85% of the eggs, 73% of the oil, 78% of the flour, and 92% of the milk that she bought, by
Suppose that David Samuel wants to invest in three company shares: APPL, FB, and IBM. He decides to do some market research before he invests his money in these shares. The following table provides
WoodFurni is a furniture manufacturer company that produces three main types of furniture: chairs, tables, and wardrobes. All three products require design and execution, and grinding and polishing
Use Excel charts to visualize the solution for the J&M Manufacturing problem (Example 15.8) using the Solver Sensitivity Report with auxiliary variables.Data from Example 15.8Suppose that J&M
Use Excel charts to visualize the solution for the Sklenka Skis example that we discussed in Chapter 13 and in this chapter. Use the Solver Answer Report (Figure 13.5) and the Sensitivity Report
Analyze the sensitivity of the optimal solution for Riesemberg Medical Devices (Problem 14.11) as the budget and available engineers are varied. Write a short summary memo to the manager in which you
For the Paul & Giovanni Foods scenario (Example 14.7), conduct a what-if analysis by varying k, the number of distribution centers, from 1 to 4. Summarize your results and write a short memo to
Consider the car-rental insurance scenario in Problems 3 and 10. Use the approach described in this chapter to develop your personal utility function for the payoffs associated with this decision.
What decisions should be made using the average payoff strategy in Problems 3, 4, and 5?Data from Problem 4Suppose that a car-rental agency offers insurance for a week that costs $100. A minor fender
For Slaggert Systems decision in Problem 4, compute the standard deviation of the payoffs for each decision. What does this tell you about the risk in making the decision?Data from Problem 4Suppose
For the payoff table you developed in Problem 1, determine the decision using the aggressive, conservative, and opportunity-loss strategiesData from Problem 1Use the Outsourcing Decision Model Excel
Obtain the Answer and Sensitivity Reports for Dara’s investment scenario (Problem 13.32). Develop a set of charts that visualize the key information in these reports.Data from Problem 13.32A recent
Hahn Engineering (Example 14.5) would like to increase its return, but the project manager knows that this will require more cash and/or personnel. Conduct a what-if analysis of the optimal solution
For Worley Fluid Supplies (Problem 13.51), solve the model using auxiliary variables. Obtain the Solver Sensitivity Report, and answer the following: a. Explain the sensitivity information for
Conduct a what-if analysis for Tunningley Services (Problem 14.21) as the travel goal varies from 30 to 90 minutes in increments of 10 minutes.Data from Problem 14.21Tunningley Services is
For the Hansel Corporation (Problem 13.40), obtain the Solver Sensitivity Report and use it to answer the following: a. A labor strike in India leads to a shortage of 20,000 units of additive C.
For Klein Industries (Problem 13.49), formulate and solve a linear optimization model using the auxiliary variable cells method and write a short memo to the production manager explaining the
Figure 15.39 shows the Solver Sensitivity Report for the Markowitz portfolio model (Example 14.10). a. Explain how to interpret the Lagrange multiplier value for the target portfolio return.b.
For Problem 13.35 (Kelly Foods), obtain the Solver Sensitivity Report and write a short memo to the supply chain director explaining your results.Data from Problem 13.35Kelly Foods has two plants and
For the nonlinear pricing decision model in Example 14.8, suppose that the company wants to keep the price at a maximum of $500. Note that the solution in Figure 14.19 will no longer be feasible.
Problems 8 and 15 in Chapter 13 presented a scenario for Bangs Leisure Chairs. The Solver Sensitivity Report for the optimal solution (Problem 15a only) is shown in Figure 15.38. Clearly
The K&L Designs workbook contains the Sensitivity Reports for both the original problem formulation (Example 13.19) and the alternative model (Example 13.20). Explain the differences in
For the Fruity Juices scenario (Problem 13.50), formulate and solve a linear optimization model using the auxiliary variable cells method and write a short memo explaining the sensitivity
For the International Chef, Inc. scenario in Problem 13.27, obtain the Solver Sensitivity Report and write a short memo to the president, Kathy Chung, explaining the sensitivity information in
Suppose the distances that a pharmaceutical representative, Tracy Ross, travels between medical offices are as follows:Set up and solve a traveling salesperson problem using Evolutionary Solver.
Use the Sensitivity Report for the Camm Textiles scenario (Figure 15.37) to answer the following: a. Explain the reduced cost (0.14) for Fabric 2 Purchased in terms of the original data, and why
For Problem 13.37 (Shafer Office Supplies), obtain the Solver Sensitivity Report and answer the following questions: a. Suppose that 500 units of extra supply are available (and that the cost of
For the Markowitz model in Example 14.10, determine how the minimum variance and stock allocations change as the target return varies between 8% and 12% (in increments of 1%) by re-solving the model.
For Dara’s investment situation (Problem 32 in Chapter 13), obtain the Solver Sensitivity Report and interpret the information, making recommendations that Dara might consider for her

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