Questions and Answers of Business Analytics Data

For Valencia Products in Problem 4, modify the data in the model to create a problem with each of the following. a. alternative optimal solutions b. an unbounded solution c.
A franchise of a chain of Mexican restaurants wants to determine the best location to attract customers from three suburban neighborhoods. The coordinates of the three suburban neighborhoods are as
For the 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. Modify the
For ColPal Products in Problem 5, modify the data in the model to create a problem with each of the following. a. alternative optimal solutions b. an unbounded solution c.
Suggest additional generic examples of linear optimization models in the format of Table 13.1 based on your work experience, personal interests (hobbies, etc.), or information found in business
In Jennifer Bellin’s leadership conference project (Problem 34 in Chapter 11), suppose that the activity times are uncertain. Estimated ranges for these times are shown in the table
The DTP Corporation has two major products. Marketing analysts have conducted experiments to gather data on the effect of media advertising on profits. These data are available in the Excel file DTP
Dynamic Research (DR) is a company that produces software designed to enhance company creativity. The current stock price for the company is $9.75 per share. The daily changes in stock price over the
MK Manufacturing produces compressor and turbine blades for jet engines. The blades are manufactured from an alloy that is a mix of aluminum and titanium. Sheaths are part of the assembly that keep
Passengers wait for an airport shuttle service that arrives every 15 minutes. Passengers arrive within each 5-minute period according to the following distribution: The shuttle holds ten
In many queueing situations, the time between arrivals and service times are assumed to have exponential distributions. Modify the car wash model (Example 12.18) to simulate a queueing system with an
Review the portfolio allocation model in this chapter. Identify the decision variables, objective function, and constraints in simple verbal statements, and mathematically formulate the linear
For the car wash simulation model (Example 12.18), use data tables to find the distributions for the maximum number in the queue, maximum waiting time, average waiting time per customer, and total
Simulate the mini-mart situation described in Problem 45 of Chapter 11. Identify the best order quantity using a simulation with 100 trials.Data from Problem 45 of Chapter 11A gasoline mini-mart
O’Brien Chemicals makes three types of products: industrial cleaning, chemical treatment, and some miscellaneous products. Each is sold in 55-gallon drums. The selling price and unit manufacturing
Use the Newsvendor Model spreadsheet to set up and run a Monte Carlo simulation assuming that demand is triangular with minimum value = 40, maximum value = 50, and most likely value = 47. Find the
For the profit model developed in Example 12.1, suppose that the demand is uniform with a minimum of 35,000 and maximum of 60,000; fixed costs are normal with a mean of $400,000 and a standard
SPD Tax Service is a regional tax preparation firm that competes with such national chains as H&R Block. The company is considering expanding and needs a financial model to analyze the decision
Waring Solar Systems provides solar panels and other energy-efficient technologies for buildings. In response to a customer inquiry, the company is conducting a feasibility study to determine if
To further refine the assumptions of the Olympic bid proposal discussed in Example 12.8, based on additional research, analysts created the following distribution for TV broadcast revenues, which
Develop a realistic retirement planning simulation model for your personal situation. If you are currently employed, use as much information as you can gather for your model, including potential
Adam is 24 years old and has a 401(k) plan through his employer, a large financial institution. His company matches 50% of his contributions up to 6% of his salary. He currently contributes the
Refer back to the outsourcing decision model in Example 1.4 of Chapter 1. The Excel file Outsourcing Decision Model is a spreadsheet implementation of the model. The model calculates the total cost
Lily’s Gourmet Ice Cream Shop offers a variety of gourmet ice cream and shakes. Although Lily’s competes with other ice cream shops and frozen yogurt stores, none of them offer gourmet ice creams
Use the profit model developed in Example 12.1 to implement a financial simulation model for a new product proposal and determine a distribution of profits using the discrete distributions below for
For the garage band model in Problem 21 of Chapter 11, suppose that the expected crowd is normally distributed with a mean of 3,000 and standard deviation of 200, and the average concession
For the market share model in Problem 5 of Chapter 11, suppose that the estimate of the percentage of new purchasers who will ultimately try the brand is uncertain and assumed to be normally
In the Olympic bid proposal discussed in Example 12.8, ticket sales revenue was estimated to be a triangular distribution with minimum= $560 million, maximum = $600 million, and most likely = $600
A cell phone company is conducting a telemarketing campaign to generate new clients. One hundred calls are made, and the probability of successfully gaining a new customer from each call is 0.07.
Historical data show that customers who download music from a popular Web service spend approximately $26 per month, with a standard deviation of $8, normally distributed, but never spend more than
The distribution of GMAT scores in math for an incoming class of business students has a mean of 620 and standard deviation of 15. Assume that the scores are normally distributed. Generate 25 random
The time required to play a game of Battleship™ is uniformly distributed between 15 and 60 minutes. Use formula (12.1) to obtain a sample of 50 outcomes and compute the mean, minimum, maximum, and
In one of PLE’s manufacturing facilities, a drill press that has three drill bits is used to fabricate metal parts. Drill bits break occasionally and need to be replaced. The present policy is to
A financial consultant has an average of seven customers he consults with each day; assume a Poisson distribution. The consultant’s overhead requires that he consult with at least five customers
Generate 100 random numbers using the RAND function and create a frequency distribution and a histogram with bins of width 0.1. Apply the chi-square goodness of fit test (see Chapter 5) to test the
The People’s Choice Bank is a small community bank that has three local branches, in Blue Ash, Delhi, and Anderson Hills. The Excel file Peoples Choice Bank is a database of major account
A new graduate has taken a job with an annual salary of $60,000. She expects her salary to go up by 2.5% each year for the first five years. Her starting salary is stored in cell A4 of an Excel
For each of the following scenarios, state whether descriptive, predictive, or prescriptive analytics tools would most likely be used. a. The chief financial officer for a small manufacturing
Return on investment (ROI) is profit divided by investment. In marketing, ROI is determined as incremental sales times gross margin minus marketing investment, all divided by marketing investment.
A company forecasts its net revenue for the next three years as $172,800, $213,580, and $293,985. Find the net present value of these cash flows, assuming a discount rate of 4.2%
In this chapter, we noted the importance of defining and analyzing a problem prior to attempting to find a solution. Consider this example: One of the earliest operations research groups during World
Define range names for all the data and model entities in the Break-Even Decision Model spreadsheet and apply them to the formulas in the model.
John Toczek, a practicing analytics professional, maintains a Web site called the PuzzlOR (OR standing for “operations research”) at www.puzzlor.com. Each month he posts a new puzzle. Choose one
Figure 2.41 shows the 2016 U.S. federal income tax rates for the four different types of filing status. Suppose an individual is single. Write one logical IF function that will determine the correct
The Excel file MBA Motivation and Salary Expectations provides data on students’ pre-MBA salary and post-MBA salary expectations. Define range names for each of these ranges and then use the range
Apply the Advanced Filter to the Credit Risk Data (Base Data worksheet) to find the following: a. All new car loans obtained for single females. b. All furniture loans obtained for single
The Excel file Syringe Samples provides data for 15 samples of an important measurement in the manufacturing process for medical syringes. Define range names for each of the samples and then use
A manager has a list of items that have been sorted according to an item ID. Some of them are duplicates. She wants to add a code to the database that assigns a 1 to the item if it is unique, and if
The Budget Forecasting database shows estimated expenses for the last nine months of the coming year. Define range names for each month and type of expense and use the range names in formulas to find
Filter the data in the Bicycle Inventory database to obtain only the records for the leisure category. What is the average selling price and total quantity on hand for these bicycles?
For the Bicycle Inventory database, use database functions to find the following: a. The total number of leisure bicycles on hand. b. The average purchase cost and selling price of road
Enhance the Sales Transactions database file to perform a database query that finds the transaction code and amount associated with any customer ID input. Apply your results to customer ID 10029.
For the Bicycle Inventory database, write a logical IF function that enters “Markdown” in column H if the purchase cost is less than $100 and the selling price is at least $125; if not, then
Use the CHOOSE function to develop a database query for the Monthly Product Sales data that will complete the following table for any month specified in the top left corner: Each empty cell
Enhance the Treasury Yield Rates database file to perform a database query that finds the rate associated with any date and term.
In the Purchase Orders database, we need to find the order number and the supplier that made a purchase totaling $9,045. Write functions for a left table lookup to answer these queries.
An auditor found an expense receipt for $179.24 without a name. Write a left table lookup function that would identify the sales rep in the Travel Expenses database.
Develop an Excel template for computing the number of calories that a person needs each day to maintain his or her weight. Use the following formulas. For a male, the number of calories needed is
The Excel file Payroll Data provides hourly salaries for a group of employees. Create an Excel template that allows the user to select an employee by employee ID, enter the number of regular hours
The Excel file Retail Survey provides data about customers’ preferences for denim jeans. Use PivotTables and slicers to draw conclusions about how preferences differ by gender and age group and
Create a treemap for the regions, items, and units sold in the Excel file Store and Regional Sales Database.
Create a sunburst chart for the regions, items, and units sold in the Excel file Store and Regional Sales Database.
Create a line chart showing the growth in the annual CPI in the Excel file Consumer Price Index.
Compute the total expenses for each month in the Budget Forecasting Excel file. Then develop waterfall charts for each month to visualize the data.
Use PivotCharts to create a useful dashboard for the data in the Excel file President’s Inn Guest Database. Explain why you chose the elements of the dashboard and how a manager might use them.
Create a stacked area chart contrasting primary energy imports and primary energy exports in the Excel file Energy Production & Consumption. What conclusion can you reach?
Use PivotCharts to create a useful dashboard for the data in the Excel file Restaurant Sales. Explain why you chose the elements of the dashboard and how a manager might use them.
Use PivotCharts to create a useful dashboard for the data in the Excel file Store and Regional Sales. Explain why you chose the elements of the dash board and how a manager might use them
Use PivotCharts to create a useful dashboard for the data in the Excel file Corporate Default Database. Explain why you chose the elements of the dashboard and how a manager might use them.
Use PivotCharts to create a useful dashboard for the data in the Excel file Peoples Choice Bank. Explain why you chose the elements of the dashboard and how a manager might use them.
Construct an appropriate chart or charts to visualize the information in the Budget Forecasting Excel file. Explain why you chose the chart(s) you used.
For the Base Data in the Excel file Credit Risk Data, use the Histogram chart to develop a histogram with a bin width of 5 for the number of months as a customer of the bank.
Create a useful dashboard for the data in the Excel file Restaurant Sales. Use appropriate charts and layouts and other visualization tools that help to convey the information. Explain why you chose
Use the Histogram chart to construct histograms for weekly usage and waiting time in the Excel file Car Sharing Survey.
Create box-and-whisker charts for each type of expense in the Excel file Budget Forecasting.
Use a PivotTable to develop a frequency distribution with six bins for the age of individuals in the Base Data worksheet in the Credit Risk Data file. Compute and chart the relative and cumulative
Create box-and-whisker charts for each type of cost of living adjustment in the Excel file Cost of Living Adjustments
Classify each of the variables in the Excel file Weddings as categorical, ordinal, interval, or ratio and explain why.
Find the first, second, and third quartiles for the combined amounts of checking and savings accounts in the Excel file Credit Risk Data and interpret the results.
Use the COUNTIF function to construct frequency distributions for gender, preferred style, and purchase influence in the Excel file Retail Survey, develop column charts to express the results
Use the Histogram tool to construct frequency distributions and histograms for weekly usage and waiting time in the Excel file Car Sharing Survey. Do not group the data into bins.
Find the first, second, and third quartiles for the sales amounts in the Sales Transactions database and interpret the results.
Use a PivotTable to construct a frequency distribution and histogram for GPA in the Excel file Grade Point Averages.
Use a PivotTable to construct a cross-tabulation for loan purpose and credit risk for the Base Data worksheet in the Excel file Credit Risk
Use PivotTables to construct cross-tabulations for (1) Gender and preferred style (2) Gender and purchase influence in the Excel file Retail Survey
Use PivotTables to construct cross-tabulations between each pair of variables in the Excel file Soda Preferences.
Find the mean, median, and midrange for the data in the Excel file Automobile Quality using the appropriate Excel functions or formulas.
Considering the data in the Excel file Home Market Value as a population of homeowners on this street, compute the mean, variance, and standard deviation for each of the variables using a spreadsheet
Compute the mean, median, midrange, and mode for each of the importance factors in the Excel file Coffee Shop Preferences using the appropriate Excel functions.
Considering the data in the Excel file Home Market Value as a sample of homeowners on this street, compute the mean, variance, and standard deviation for each of the variables using formulas (4.5),
The Excel file Atlanta Airline Data provides arrival and taxi-in time statistics for one day at Atlanta Hartsfield International Airport. Find the mean and standard deviation of the difference
For the Excel file Tablet Computer Sales, find the mean, standard deviation, and interquartile range of units sold per week. Show that Chebyshev’s theorem holds for the data and determine how
Compute the mean and standard deviation of the data in the Cost of Living Adjustments Excel file. Then compute the z-scores for the comparative salaries and housing adjustments and interpret your
Compute the coefficient of variation for each variable in the Excel file Home Market Value. Which has the least and greatest relative dispersion?
Use the Descriptive Statistics tool to summarize the responses in the Excel file Job Satisfaction. What information can you conclude from this analysis?
Construct a frequency distribution for overall satisfaction in the Excel file Helpdesk Survey. Develop a spreadsheet to estimate the sample mean and sample variance using formulas (4.17) and (4.19).
For the Peoples Choice Bank database, use PivotTables to find the average transaction amount for each account and branch.
In the Excel file Laptop Survey, find the proportion of respondents who own Dell, Apple, and HP computers.
Use a PivotTable to find the mean annual income by level of education for the data in the Excel file Education and Income.
In the Excel file Debt and Retirement Savings, use a PivotTable to find the mean and standard deviation of income, long-term debt, and retirement savings for both single and married individuals.

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