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business statistics communicating

Business Analytics Communicating With Numbers 1st Edition Sanjiv Jaggia, Alison Kelly, Kevin Lertwachara, Leida Chen - Solutions

Consider the following portion of data consisting of 41 transactions. Read the data file using the readtransactions function and perform the following tasks.a. Produce an item frequency plot and frequency table. Which item is the least frequent item? b. Generate association rules with a
Use the online music data set from the previous exercise to perform association rule analysis. Make sure to read the data file into R using the readtransactions function first. a. Explore the data using an item frequency plot and a frequency table. What is the most frequently downloaded
Allen Chu is a firstyear medical student. He is interested in finding out which symptoms of medical conditions tend to appear together in his research. He compiles a data set for 36 patients where the first entry lists the medical condition and the remaining entries are common symptoms associated
Assistant police chief Todd Beck wants to analyze the city’s historic crime data in order to better allocate police resources in the future. He collects data over the past two years. Each record in the data shows the type of crime reported and the location of the crime. Todd is interested in
Demand for organic food has grown steadily over the years. Organic strawberry farming is one of the segments in the food and agriculture industry that is projected to continue expanding in the foreseeable future. Estuary Organic, a fruit farming company on the coast of California, struggles to
Use Excel’s Analysis ToolPak or R, both with a seed of 1, to simulate 50 random observations based on a continuous uniform distribution over the interval [23, 37]. What is the range of simulated observations?
Use Excel’s Analysis ToolPak or R, both with a seed of 1, to simulate 200 random observations based on a Poisson distribution with λ = 2. What are the mean and standard deviation of the 200 observations?
Use Excel’s Analysis ToolPak or R, both with a seed of 1, to simulate 1,000 random observations of a normally distributed random variable with μ = 9.23 and σ = 0.87. Report the mean and standard deviation of the 1,000 observations. How many of the 1,000 observations have a value less than 8?
A manager at a local grocery store learns that 75% of her customers will use a credit card when making a purchase. Use Excel’s Analysis ToolPak or R, both with a seed of 1, to simulate a sample of 12 customers waiting in line at the grocery store to make a purchase and repeat the simulation 500
On a given day, about 85% of Internet users in the U.S. visit a social media site. Use Analysis ToolPak or R, both with a seed of 1, to generate 100 simulations of a sample of 10 Internet users and report the mean and the standard deviation of the number of users in the sample who visit a social
At a highly selective 4-year college, only 25% of transfer students go on to graduate on time. Use Analysis ToolPak or R, both with a seed of 1, to generate 400 simulations where each simulation contains a group of 10 transfer students. Report the mean, the standard deviation, and the range of the
A local grocery store observes that on average 4 customers enter the store every 5 minutes during the hour between 5:30 pm and 6:30 pm each day. Use Analysis ToolPak or R, both with a seed of 1, to generate a simulation for a period of 50 days. Report the mean and the standard deviation from the 50
Adrian Brown is a researcher studying social media usage patterns. In his research, he noticed that people tend to use multiple social media applications, and he wants to find out which popular social media applications are often used together by the same user. He surveyed 100 users about which
Use the crime data from the previous exercise to perform association rule analysis. Make sure to read the data file using the readtransactions function first. a. Explore the data using an item frequency plot and a frequency table. What type of crime occurred most frequently? What location is
Beau Crew is the branch manager of a major bank. He is interested in understanding which types of accounts a customer tends to have simultaneously so that he can offer additional financial services to his clients. He has compiled a list of customers and the accounts they have. A portion of the data
The accompanying data file lists quarterly data on median house prices in the West Census region. For cross-validation, let the training and the validation sets comprise the periods from 2010:01 to 2016:04 and 2017:01 to 2018:03, respectively. a. Use the training set to implement the
The accompanying data file lists monthly data on vehicle miles traveled in the U.S. (in millions). For cross-validation, let the training and the validation sets comprise the periods from Jan-12 to Dec-16 and Jan-17 to Sep-18, respectively. a. Use the training set to implement the Holt-Winters
The accompanying data file contains monthly data on housing starts (in 1,000s) in the U.S. For cross-validation, let the training and the validation sets comprise the period from Jan-11 to Dec-16 and Jan-17 to Nov-18, respectively. a. Use the training set to implement the Holt-Winters
Claire Williams is an intern working for the city government of New York City (NYC). She is given an assignment to find out which types of business are most likely to open in which area of NYC. She located a data file that contains the business license types and location of over 70,000 NYC
Use the bank account data set from the previous exercise to perform association rule analysis. Make sure to read the data file into R using the readtransactions function first. a. Explore the data using an item frequency plot and a frequency table. Which account type is the most frequent
The owner of a convenience store near Salt Lake City in Utah has been tabulating weekly sales at the store, excluding gas. The accompanying table shows a portion of the sales for 30 weeks. a. Use the 3-period moving average to forecast sales for the 31st week. b. Use simple exponential
Leading economic indicators, such as the stock market or the housing market, often change prior to large economic adjustments. For example, a rise in stock prices often means that investors are more confident of future growth in the economy. Or, a fall in building permits is likely a signal that
Spotify is a music streaming platform that gives access to songs from artists all over the world. On February 28, 2018, Spotify filed for an initial public offering (IPO) on the New York Stock Exchange. The accompanying table shows a portion of the adjusted monthly stock price of Spotify from April
Food trucks have become a common sight on American campuses. They serve scores of hungry students strolling through campus and looking for trendy food served fast. The owner of a food truck collects data on the number of students he serves on weekdays on a small campus in California. A portion of
Consider the exchange rate of the $ (USD) with € (Euro) and $ (USD) with £ (Pound). The accompanying table shows a portion of the exchange rates from January 2017 to January 2019. a. Find the 3-period and the 5-period moving averages for Euro. Based on MSE, MAD, and MAPE, use the preferred
The manager of a trendy downtown café in Columbus, Ohio, collects weekly data on the number of customers it serves. A portion of the data is shown in the accompanying table. a. Use the simple exponential smoothing technique with α = 0.2 to make a forecast for Week 53. b. Use the simple
It is difficult to predict gas prices given a multitude of factors affecting them. Consider 22 weeks of the average weekly regular gasoline price ($ per gallon) in New England and the West Coast. a. Find the 3-period and the 5-period moving averages for gas prices in New England. Based on MSE,
Morgan Bank has been encouraging its customers to use its new mobile banking app. While this may be good for business, the bank has to deal with a number of inquiries it receives about the new app. The following table contains a portion of weekly inquiries the bank has received over the past 30
Apple Inc. has performed extremely well in the last decade. After its stock price dropped to below 90 in May 2016, it made a tremendous comeback to reach about 146 by May 2017 (SeekingAlpha.com, May 1, 2017). An investor seeking to gain from the positive momentum of Apple’s stock price analyzes
In Colorado, sales of medical marijuana began in November 2012; however, the Department of Revenue did not report tax collection data until February of 2014. The accompanying table shows a portion of the monthly revenue from medical and retail marijuana tax and fee collections as posted in the
Lowe’s Companies, Inc., is a home improvement company offering a range of products for maintenance, repair, remodeling, and decorating. During the recovery phase since the financial crisis of 2008, Lowe’s has enjoyed a steady growth in revenue. The following table contains a portion of
Vacation destinations often run on a seasonal basis, depending on the primary activities in that location. Amanda Wang is the owner of a travel agency in Cincinnati, Ohio. She has built a database of the number of vacation packages (Vacation) that she has sold over the last twelve years. The
The following table lists a portion of the University of Michigan’s Consumer Sentiment index. This index is normalized to have a value of 100 in 1966 and is used to record changes in consumer morale. a. Estimate and interpret the linear trend model with seasonal dummy variables. b. Use
Used car dealerships generally have sales quotas that they strive to hit each month, quarter, and calendar year. Consequently, buying a used car toward the end of those periods presents a great opportunity to get a good deal on the car. A local dealership has compiled monthly sales data for used
In 2016, demographers reported that deaths outnumbered births among white Americans in more than half the states in the U.S. (The New York Times, June 20, 2018). Consider the white American population, in millions, from 2005 through 2017; a portion of the data is shown in accompanying
According to U.S. News and World Report, a statistician was the best business profession in 2019 with 12,600 projected jobs and a median salary of $84,060. A mathematician was the second-best profession with 900 projected jobs and a median salary of $103,010. Interestingly, both of these career
According to Forbes, Michael Trout of the Los Angeles Angels, with earnings of $39 million, was the highest-paid player in baseball in 2019. Bryce Harper of the Philadelphia Phillies ranked second at $36.5 million. The Boston Red Sox pitcher David Price was baseball’s third-highest-paid player at
The following three students were honored at a local high school for securing admissions to prestigious universities. a. Organize the data into a fixed-width format (10 characters for Name and 10 characters for University). b. Organize the data in a delimited format. c. Code the data
For several years, Japan’s declining population has led experts and lawmakers to consider its economic and social repercussions (NPR, December 21, 2018). Consider the population data, in millions, for Japan from 1960 to 2017; a portion of the data is shown in the accompanying table.a. Use a
Treasury securities are bonds issued by the U.S. government. Consider a portion of quarterly data on treasury securities, measured in millions of U.S. dollars. Estimate the exponential trend model with seasonal dummy variables to make a forecast for the fourth quarter of 2018.
The S&P’s Case-Shiller home price index measures repeat-sales house price indices for the United States. The index, normalized to have a value of 100 in January 2000, captures price movements of the same homes relative to January 2000. Consider the seasonally adjusted monthly series from
Housing starts are the number of new residential construction projects that have begun during any given month. It is considered to be a leading indicator of economic strength. The following table contains a portion of monthly data on housing starts (in 1,000s) in the U.S. from Jan-11 to
The West Census region for the U.S. includes Montana, Wyoming, Colorado, New Mexico, Idaho, Utah, Arizona, Nevada, California, Oregon, and Washington. Consider the median house prices in the West Census region from 2010:01 through 2018:03, a portion of which is shown in the accompanying
The United States economy picked up speed in 2012 as businesses substantially built up their inventories and consumers increased their spending. This also led to an increase in domestic travel. Consider the vehicle miles traveled in the U.S. (in millions) from January 2012 through September 2018, a
The accompanying data file contains annual population data (in millions) for Japan from 1960 to 2017. For cross-validation, let the training and the validation sets comprise the periods from 1960 to 2005 and 2006 to 2017, respectively. a. Use the training set to estimate the linear, the
The accompanying data file contains 57 months of tax revenue from medical and retail marijuana tax and fee collections. For cross-validation, let the training and the validation sets comprise the first 45 months and the last 12 months, respectively. a. Use the training set to estimate the
The accompanying data file contains daily sales (in $) at Café Venetian for 100 days. For cross-validation, let the training and the validation sets comprise the first 80 days and the last 20 days, respectively. a. Use the training set to estimate the linear and the exponential trend models
The accompanying data file contains 53 weeks of Apple’s stock price data. For cross-validation, let the training and the validation sets comprise the first 40 weeks and the last 13 weeks, respectively. a. Use the training set to estimate the linear and the exponential trend models and
The accompanying data file contains quarterly data on expenses (in $1,000s) over five years. For cross-validation, let the training and the validation sets comprise the periods from 2008:01 to 2015:04 and 2016:01 to 2017:04, respectively. a. Use the training set to estimate the linear and the
The accompanying data file lists quarterly data on median house prices in the West Census region. For cross-validation, let the training and the validation sets comprise the periods from 2010:01 to 2016:04 and 2017:01 to 2018:03, respectively. a. Use the training set to estimate the linear
The accompanying data file lists monthly data on vehicle miles traveled in the U.S. (in millions). For cross-validation, let the training and the validation sets comprise the periods from Jan-12 to Dec-16 and Jan-17 to Sep-18, respectively. a. Use the training set to estimate the linear and
The accompanying data file contains quarterly data on weekly earnings (Earnings, adjusted for inflation) in the U.S. For cross-validation, let the training and the validation sets comprise the periods from 2010:01 to 2015:04 and 2016:01 to 2017:04, respectively. a. Use the training set to
The accompanying data file contains monthly data on housing starts (in 1,000s) in the U.S. For cross-validation, let the training and the validation sets comprise the period from Jan-11 to Dec-16 and Jan-17 to Nov-18, respectively. a. Use the training set to estimate the linear and the
The accompanying data file contains annual population data (in millions) for Japan from 1960 to 2017. For cross-validation, let the training and the validation sets comprise the periods from 1960 to 2005 and 2006 to 2017, respectively. a. Use the training set to implement the Holt exponential
The accompanying data file contains 57 months of tax revenue from medical and retail marijuana tax and fee collections. For cross-validation, let the training and the validation sets comprise the first 45 months and the last 12 months, respectively. a. Use the training set to implement the
The accompanying data file contains daily sales (in $) at Café Venetian for 100 days. For cross-validation, let the training and the validation sets comprise the first 80 days and the last 20 days, respectively. a. Use the training set to implement the Holt exponential smoothing method with
The accompanying data file contains 53 weeks of Apple’s stock price data. For cross-validation, let the training and the validation sets comprise the first 40 weeks and the last 13 weeks, respectively. a. Use the training set to implement the Holt exponential smoothing method with
The accompanying data file contains quarterly data on expenses (in $1,000s) over five years. For cross-validation, let the training and the validation sets comprise the periods from 2008:01 to 2015:04 and 2016:01 to 2017:04, respectively. a. Use the training set to implement the Holt-Winters
Peter plans to invest $25,000 in a mutual fund whose annual returns are normally distributed with a mean of 7.4% and standard deviation of 2.65%. Use Analysis ToolPak or R, both with a seed of 1, to generate 100 trials to estimate the return on Peter’s investment after one year. What are the mean
Monthly demand for a 60" TV at a local appliance store is normally distributed with a mean of 11 units and standard deviation of 4.17 units. Use Analysis ToolPak or R, both with a seed of 1, to develop a simulation for 300 months and report the mean and the range of the demand for the TV.
Every Saturday morning between 9:00 am and 10:00 am, customers, on average, arrive at a local coffee shop every 1.2 minutes, and the customer arrival follows an exponential distribution. Use Analysis ToolPak or R, both with a seed of 1, to generate 500 trials to simulate the time between customer
On average, a smartphone battery lasts about 6.5 hours with normal usage. The smartphone battery life follows an exponential distribution. Use Analysis ToolPak or R, both with a seed of 1, to generate 50 smartphone battery life simulations, and report the sample mean and the standard deviation. If
A manufacturer of a smartphone battery estimates that monthly demand follows a normal distribution with a mean of 400 units and standard deviation of 26. Material cost is uniformly distributed between $7.00 and $8.50. Fixed costs are $2,700 per month, regardless of the production rate. The selling
Consider the following LP problem where x1 and x2 represent the decision variables. Solve the LP problem to answer the following questions. a. What are the values of x1 and x2 at the optimal solution? What is the minimum value of z? b. Identify the binding and nonbinding constraints
Consider the following LP problem. where x1 and x2 represents the decision variables. Solve the LP problem to answer the following questions. a. What are the values of x1 and x2 at the optimal solution? What is the minimum value of z? b. Identify the binding and nonbinding
Consider the following LP problem. where x1, x2, and x3 represent the decision variables. Solve the LP problem to answer the following questions. a. What are the values of x1, x2, and x3 at the optimal solution? What is the maximum value of z? b. Identify the binding and nonbinding
Consider the following LP problem where x1, x2, and x3 represent the decision variables. Solve the LP problem to answer the following questions. a. What are the values of x1, x2, and x3 at the optimal solution? What is the minimum value of z? b. Identify the binding and nonbinding
Big Sur Taffy Company makes two types of candies: salt water taffy and special home-recipe taffy. Big Sur wants to use a more quantitative approach to decide how much salt water and special taffy to make each day. Molasses, honey, and butter are the main ingredients that Big Sur uses to make taffy
A French vineyard in the Chablis region uses Chardonnay grapes to make Chardonnay wine and Blanc de Blancs blended champagne. To produce 1 liter of wine, the vineyard uses about 8 kilograms of Chardonnay grapes, and the winemakers usually spend about 2.5 hours in the winemaking process, including
Calcium and vitamin D are some of the most essential nutrients for bone health. According to the Institute of Medicine, an average adult should have in his or her daily diet 1,000 mg of calcium and 600 IU of vitamin D. These two nutrients are found in milk and cold cereal, which many people eat for
A renowned chocolatier, Francesco Schröeder, makes three kinds of chocolate confectionery: artisanal truffles, handcrafted chocolate nuggets, and premium gourmet chocolate bars. He uses the highest quality of cacao butter, dairy cream, and honey as the main ingredients. Francesco makes his
CaseInPoint is a start-up company that makes ultra-slim, protective cases in stylish bold colors for a highly popular smartphone with two models: a large MÒR model and a BEAG model. CaseInPoint uses thermoplastic polyurethane, or TPU, to make all of its phone cases. The MÒR case is larger but is
Many vitamin C products are made from ascorbic acid, which is derived from corn. A small dietary supplement company makes two types of vitamin C supplements: capsules and chewable tablets. To produce 1 kilogram of vitamin C capsules, 30 kilograms of corn, 2.3 hours of manufacturing time, and 2
A rancher has a six-year old pony that weighs about 180 pounds. A pony of this age and size needs about 6.2 Mcal of digestible energy, 260 grams of protein, and 9,700 IU of vitamin A in her daily diet. EquineHealth and PonyEssentials are two popular brands of horse feed. One serving of the
Consider the following IP problem.where x1, x2, and x3 represent the decision variables. Solve the IP problem to answer the following questions. a. What are the values of x1, x2, and x3 at the optimal solution? b. What is the maximum value of z? Maximize z = Cix, where c₁= 15, C₂ =
Consider the following IP problem.where xij represent the decision variables. Solve the IP problem to answer the following questions. a. What are the values of xij at the optimal solution? b. What is the minimum value of z? Minimize Subject to: z= Σ, Σ, Cjxj, where C11 = 2, C12 = 1, C21
An online apparel retailer runs regular marketing campaigns on social media channels. The retailer is considering four social media marketing campaigns on Facebook, Instagram, Pinterest, and Twitter for the four weeks prior to the December holiday season. However, due to its limited marketing
Akkadian Capital, a real estate investment firm, owns five apartment buildings around a four-year college campus. The five buildings need significant repairs and renovation, and each renovation project will take about three months to complete. The company expects each renovated apartment building
A microbrewery company in Portland, Oregon, operates two breweries that supply its popular craft beer to five local restaurants. The first brewery can produce 56 barrels of craft beer per week, and the second brewery can produce 72 barrels per week. The delivery cost per barrel and the average
An electric car company owns two facilities that manufacture and supply high-capacity lithium-ion batteries to three vehicle assembly plants. The first battery facility can produce and ship up to 10,000 lithium-ion batteries per month, and the second facility can produce and ship up to 8,000
Peter has $30,000 to invest in a mutual fund whose annual returns are normally distributed with a mean of 5% and standard deviation of 4.2%. a. Use Analysis ToolPak or R, both with a seed of 1, to simulate 5,000 trials to estimate the mean balance after one year. b. What is the
An amusement park has a roller coaster that can accommodate up to 45 park goers per ride, and each ride lasts about 20 minutes. For each hour, the park gives out 200 tickets for the ride, and on average, only 60% of the ticket holders come to ride on the roller coaster. The number of roller coaster
Following an exponential distribution, the average lifespan of a smartphone battery is 2.3 years. The battery manufacturer wants to offer a warranty for its customers to receive a free replacement if the battery fails during the first year. Each battery generates a profit of $10.85, and the
At a local appliance store, weekly demand for a large screen TV during the week prior to the Super Bowl is normally distributed with a mean of 35 units and standard deviation of 12 units. The store usually keeps 40 units in its inventory. Use Analysis ToolPak or R, both with a seed of 1, to
Each week, a grocery store purchases eggs from a local ranch for $1.99 for each 12-egg carton and sells it for $3.89. Any cartons not sold within a week will be on “manager’s special” sales or sold to a low-cost outlet for $1.25. If the eggs sell out before the end of the week, an estimated
The accompanying data file contains 20 observations on the response variable y along with the predictor variables x1 and x2.a. Estimate a regression model with the predictor variables x1 and x2, and then extend it to also include the interaction variable x1x2.b. Use the preferred model to compute
Silicon Valley tech companies are under pressure to increase diversity as most of their employees are white and Asian men (Bloomberg, August 16, 2017). Black and Hispanic people, especially women, are grossly underrepresented. In order to analyze if the lack of diversity is influenced by a lack of
In a recent survey, ice cream truck drivers in Cincinnati, Ohio, reported that they make about $280 in income on a typical summer day. The income was generally higher on days with longer work hours, particularly hot days, and on holidays. Irma follows an ice cream truck driver for five weeks. She
A manufacturing manager uses a dexterity test on 120 current employees in order to predict watch production based on time to completion (in seconds) and a Male dummy variable. A portion of the data is shown in the accompanying table. a. Estimate the linear model Watches = β0 + β1Time +
Brendan Connolly manages the human resource division of a high-tech company. He has access to the salary information of 300 sales reps along with their age, sex (Female), and the net promoter score (NPS) that indicates customer satisfaction. A portion of the data is shown in the accompanying
Jonah has worked as an agent for rental properties in Cincinnati, Ohio, for almost 10 years. He understands that the premium for additional bedrooms is more in larger as compared to smaller homes. Consider the monthly data on rent (Rent, in $) along with square footage (Sqft), number of bedrooms
With college costs and student debt on the rise, the choices that families make when searching for and selecting a college have never been more important. Consider the information from 116 colleges on annual post-college earnings of graduates (Earnings in $), the average annual cost (Cost in $),
According to the World Health Organization, the health of an individual, to a large extent, is determined by factors such as income, education, genetics, and social connections. In a survey, 120 American adults are asked how they rated their health (Health) and social connections (Social) on a
It is often claimed that the SAT is an important indicator of the grades students will earn in the first year of college. The admission officer at a state university wants to analyze the relationship between the first-year GPA in college (College GPA) and the SAT score of the student (SAT), the
Consider a linear regression model where y represents the response variable and x1 and x2 are the predictor variables. A regression model with x1, x2, and x1x2, where x1x2 is the interaction variable, is estimated as ŷ = 123.12 + 6.91x1 − 1.53x2 − 0.12x1x2.a. Compute ŷ for x1 = 12 and x2
Create a sample report to analyze admission and enrollment decisions at the school of arts & letters in a selective four-year college in North America. For predictor variables, include the applicant’s sex, ethnicity, grade point average, and SAT scores. Make predictions for the admission
Consider a linear regression model where y represents the response variable and x, d1, and d2 are the predictor variables. Both d1 and d2 are dummy variables, each assuming values 1 or 0. A regression model with x, d1, d2, and d1d2, where d1d2 is the interaction variable, is estimated as yˆ =
The consumption function is one of the key relationships in economics, where consumption is a function of disposable income. The accompanying table shows a portion of quarterly data for average U.S. annual consumption (Consumption in $) and disposable income (Income in $) for the years 2000 –
Like books and stories, television not only entertains, it also exposes a child to new information about the world. While watching too much television is harmful, a little bit may actually help. Researcher Matt Castle gathers information on the grade point average (GPA) of 28 middle-school children
A researcher from the Center for Equal Opportunity wants to determine if SAT scores of admitted students at a large state university differed by ethnicity. She collects data on SAT scores and ethnic background for 200 admitted students. A portion of the data is shown in the accompanying

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