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Business Analytics Communicating With Numbers 1st Edition Sanjiv Jaggia, Alison Kelly, Kevin Lertwachara, Leida Chen - Solutions
The following table contains two variables and five observations.a. Create a new variable called “Sum” that contains the sum of the values of x1 and x2 for each observation. What is the average value of Sum?b. Create a new variable called “Difference” that contains the absolute difference
The accompanying data set contains two variables, Date1 and Date2. a. Create a new variable called “DifferenceInYear” that contains the difference between Date1 and Date2 in year for each observation. What is the average difference in year? b. Create a new variable called “Month”
The accompanying data set contains three variables, x1, x2, and x3. a. Create a new variable called “Difference” that contains the difference between the values of x1 and x2 for each observation (i.e., x2 − x1). What is the average difference? b. Create a new variable called
The accompanying data set contains three variables, x1, x2, and x3. a. Create a new variable called “Difference” that contains the difference between the values of x1 and x2 for each observation (i.e., x2 − x1). What is the average difference? b. Create a new variable called
The accompanying data set contains three variables, x1, x2, and x3. a. Bin the values of x1 into three equal-size groups. Label the groups with “low” (lowest values), “medium,” and “high” (highest values). How many observations are assigned to group medium? b. Bin the values
The accompanying data set contains three variables, x1, x2, and x3. a. Bin the values of x1, x2, and x3 into five equal-size groups. Label the groups with numbers 1 (lowest) to 5 (highest). b. Combine the group labels of x1, x2, and x3 to create a score like the RFM score described in
The accompanying data contains three variables and six observations. a. Bin the values of x1 into two equal-size groups. Label the groups with numbers 1 (lower values) and 2 (higher values). What is the average value of x1 for group 1? b. Bin the values of x2 into three equal interval
Refer to the previous exercise for a description of the data set. a. Are there any missing values in the data set? If there are, which variables have missing values? Which observations have missing values? How many missing values are there in the data set? b. Use the omission strategy to
The accompanying data set contains three variables, x1, x2, and x3.a. Bin the values of x1 into three equal-size groups. Label the groups with numbers 1 (lowest values) to 3 (highest values). How many observations are assigned to group 1?b. Bin the values of x2 into three equal-interval groups.
A researcher at a marketing firm examines whether the age of a consumer matters when buying athletic clothing. Her initial feeling is that Brand A attracts a younger customer, whereas the more established companies (Brands B and C) draw an older clientele. For 600 recent purchases of athletic
Metalworks, a supplier of fabricated industrial parts, wonders if there is any connection between when a component is constructed (Shift is equal to 1, 2, or 3) and whether or not it is defective (Defective is equal to Yes if the component is defective, No otherwise). The supplier collects data on
At a local bar in a small Midwestern town, beer and wine are the only two alcoholic options. The manager conducts a survey on the bar’s customers over the past weekend. Customers are asked to identify their sex (defined as male or female) and their drink choice (beer, wine, or soft drink). A
It has been generally believed that it is not feasible for men and women to be just friends. Others argue that this belief may not be true anymore because gone are the days when men worked and women stayed at home and the only way they could get together was for romance (www. npr.org, November 12,
The accompanying figure plots the monthly stock price of a large construction company from July 2017 through March 2019. The stock has experienced tremendous growth over this time period, almost tripling in price. Does the figure reflect this growth? If not, why not? 500 400 Stock
The following table lists a portion of the average price (in $) for a gallon of gas for the 50 states and the District of Columbia as reported by AAA Gas Prices on January 2, 2019. a. Construct the frequency distribution and the histogram for the average price of gas. Use six intervals with
The facility manager at a pharmaceutical company wants to build a regression model to forecast monthly electricity cost (Cost in $). Three main variables are thought to influence electricity cost: (1) Average outdoor temperature (Temp in °F) (2) Working days per month (Days)(3) Tons of
Numerous attempts have been made to understand happiness. Because there is no unique way to quantify it, researchers often rely on surveys to capture a subjective assessment of well-being. One study finds that holding everything else constant, people seem to be least happy when they are in their
Consider a binary response variable y and a predictor variable x. The following table contains the parameter estimates of the linear probability model (LPM) and the logistic regression model, with the associated p-values shown in parentheses. a. Test for the significance of the intercept and
The accompanying data file contains 20 observations on the binary response variable y along with the predictor variables x1 and x2. a. Estimate the linear probability model to compute ŷ for x1 = 12 and x2 = 8. b. Estimate the logistic regression model to compute ŷ for x1 = 12 and x2 =
More and more parole boards are using risk assessment tools when trying to determine an individual’s likelihood of returning to crime (Prison Legal News, February 2, 2016). Most of these models are based on a range of character traits and biographical facts about an individual. Many studies have
The accompanying data file contains 20 observations on the binary response variable y along with the predictor variables x1 and x2. a. Estimate and interpret the linear probability model and the logistic regression model. b. Compute the accuracy rates of both models. c. Use the
Refer to the previous exercise for a description of the data set. a. Estimate the logistic regression model where crime depends on age and the parolee’s sex. b. Are the results consistent with the claims of other studies with respect to age and the parolee’s sex? c. Predict the
Divorce has become an increasingly prevalent part of American society. According to a 2019 Gallup poll, 77% of U.S. adults say divorce is morally acceptable, which is a 17-point increase since 2001 (Gallup, May 29, 2019). In general, the acceptability is higher for younger adults who are not very
Several studies have reported lower participation in the science, technology, engineering, and mathematics (STEM) careers by female and minority students. A high school counselor surveys 240 college-bound students, collecting information on whether the student has applied to a STEM field (1 if
The accompanying data file contains 40 observations on the response variable y along with the predictor variables x and d. Consider two linear regression models where Model 1 uses the variables x and d and Model 2 extends the model by including the interaction variable xd. Use the holdout method to
Unlike small selective colleges that pay close attention to personal statements, teacher recommendations, etc., large, public state university systems primarily rely on a student’s grade point average (GPA) and scores on the SAT or ACT for the college admission decisions. Data were collected for
The Chartered Financial Analyst (CFA) designation is the de facto professional certification for the financial industry. Employers encourage their prospective employees to complete the CFA exam. Daniella Campos, an HR manager at SolidRock Investment, is reviewing 10 job applications. Given the low
Refer to the previous exercise for a description of the data set. Estimate the logistic regression model where insurance coverage depends on premium percentage and income. Consider an individual with an income of $60,000. What is the probability that she has insurance coverage if her employer
According to the 2017 census, just over 90% of Americans have health insurance (CNBC, May 22, 2018). However, a higher percentage of Americans on the lower end of the economic spectrum are still without coverage. Consider a portion of data in the following table relating to insurance coverage (1
The accompanying data file contains 40 observations on the response variable y along with the predictor variables x1 and x2. Use the holdout method to compare the predictability of the linear model with the exponential model using the first 30 observations for training and the remaining 10
The accompanying data file contains survey data for 80 participants with information on average daily time spent on mobile devices (Usage, in minutes), household income (Income, in $1,000s), lived in a rural area (Rural =1 if rural, 0 otherwise), and had a college degree (College = 1 if college
The accompanying data file contains 35 observations for an ice cream truck driver’s daily income (Income in $), number of hours on the road (Hours), whether it was a particularly hot day (Hot = 1 if the high temperature was above 85°F, 0 otherwise), and whether it was a Holiday (Holiday = 1, 0
The accompanying data file contains 40 observations on the binary response variable y along with the predictor variables x1 and x2. Use the holdout method to compare the accuracy rates of the linear probability model with the logistic regression model using the first 30 observations for training
The accompanying data file contains salary data (in $1,000s) for 30 college-educated men with their respective BMI and a dummy variable that represents 1 for a white man and 0 otherwise. Model 1 predicts Salary using BMI and White as predictor variables. Model 2 includes BMI and White along with an
The accompanying data file contains information on 100 working adults’ self-assessed happiness on a scale of 0 to 100, along with their age and annual income. Consider two quadratic models for happiness. Model 1 is based on age, age2, and income. Model 2 is based on age, age2, and
The accompanying data file contains weekly data on crew size (the number of workers) and productivity (jobs/week) over the past 27 weeks. A linear regression model and a quadratic regression model are considered for predicting productivity on the basis of crew size. a. Use the holdout method
The accompanying data file contains monthly data on rent (Rent, in $) along with square footage (Sqft), number of bedrooms (Bed), and number of bathrooms (Bath) of 80 rental units. Consider two linear regression models for Rent. Model 1 uses Bed, Bath, and Sqft, whereas Model 2 also allows the
The accompanying data file contains survey information on 120 American adults who rated their health (Health) and social connections (Social) on a scale of 1 to 100. The file also contains information on their household income (Income, in $1,000s) and college education (College equals 1 if they
The accompanying data file contains information on 30 employee’s annual pick errors (Errors), experience (Exper in years), and whether or not the employee attended training (Train equals 1 if the employee attended training, 0 otherwise). Model 1 predicts Errors using Exper and Train as predictor
The accompanying data file contains 10 observations with two variables, x1 and x2.a. Using the original values, compute the Euclidean distance between the first two observations.b. Using the original values, compute the Manhattan distance between the first two observations.c. Based on the entire
Consider the accompanying data to analyze how people view divorce (Acceptable equals 1 if morally acceptable, 0 otherwise) on the basis of age and religiosity (Religious equals 1 if very religious, 0 otherwise). a. Use the holdout method to compare the accuracy rates of two competing logistic
Consider the accompanying data to predict an Under Armour purchase (Purchase; 1 for purchase, 0 otherwise) on the basis of customer age. a. Use the holdout method to compare the accuracy rates of the linear probability model (Model 1) and the logistic regression model (Model 2) using the first
The accompanying data file contains information on the sale price (in $) for 36 single-family homes in Arlington, Massachusetts. In order to analyze house price, the predictor variables include the house’s square footage (Sqft), the number of bedrooms (Beds), the number of bathrooms (Baths), and
Consider a regression model for predicting monthly electricity cost (Cost in $) on the basis of average outdoor temperature (Temp in °F), working days per month (Days), and tons of product produced (Tons). The accompanying data file contains data on 80 observations. Use the holdout method to
Merrick Stevens is a sports analyst working for ACE Sports Management, a sports agency that represents over 200 athletes. Merrick is tasked with analyzing sports-related data and developing a predictive model for the National Basketball Association (NBA). He uses the NBA data set that contains
The accompanying data file contains 10 observations with three variables, x1, x2, and x3.a. Using the original values, compute the Euclidean distance between the first two observations.b. Using the original values, compute the Manhattan distance between the first two observations.c. Based on the
The accompanying data file contains 28 observations with three variables, x1, x2, and x3.a. Using the original values, compute the Euclidean distance for all possible pairs of the first three observations.b. Based on the entire data set, calculate the sample mean and standard deviation for the
A manager at 24/7 Fitness Center is strategic about contacting open house attendees. With her strategy, she believes that 40% of the attendees she contacts will purchase a club membership. Suppose she contacts 20 open house attendees. a. What is the probability that exactly 10 of the
The probabilities that stock A will rise in price is 0.40 and that stock B will rise in price is 0.60. Further, if stock B rises in price, the probability that stock A will also rise in price is 0.50.a. What is the probability that at least one of the stocks will rise in price?b. Are events A and B
Which of the following statements about data warehouses and data marts are correct? Select all that apply. Explain if incorrect. a. A data warehouse is a subset of the enterprise database that focuses on one particular subject or decision area. b. The dimension table describes business
A company conducts a consumer survey with questions about home ownership (OwnHome: Yes/No), car ownership (OwnCar: Yes/No), annual household spending on food (Food), and annual household spending on travel (Travel). A portion of the data is shown in the accompanying table.a. Sort the data by home
The accompanying table shows a portion of data that shows an individual’s income (Income in $1,000s), age, sex (F = female, M = male), and marital status (Married; Y = yes, N = no).a. Count the number of males and females in the data.b. What percentages of males and females are married?c. Of the
A social science study conducts a survey of 418 individuals about how often they exercise, marital status, and annual income. A portion of the Fitness data is shown in the accompanying table.a. Sort the data by annual income. Of the 10 highest income earners, how many of them are married and always
The following table lists a portion of the average writing and math SAT scores for the 50 states as well as the District of Columbia, Puerto Rico, and the U.S. Virgin Islands for the year 2017 as reported by the College Board.a. Sort the data by writing scores in descending order. Which state has
The accompanying data set contains three numerical variables, x1, x2, and x3, and one categorical variable, x4.a. For x4, how many of the observations are less than three?b. Sort x1, x2, x3, and then x4 all in ascending order. After the variables have been sorted, what is the first observation for
The accompanying data set contains three numerical variables, x1, x2, and x3.a. For x1, how many of the observations are greater than 30?b. Sort x1, x2, and then x3 all in ascending order. After the variables have been sorted, what is the first observation for x1, x2, and x3?c. Sort x1 and x2 in
The accompanying data set contains two numerical variables, x1 and x2.a. For x2, how many of the observations are equal to 2?b. Sort x1 and then x2, both in ascending order. After the variables have been sorted, what is the first observation for x1 and x2?c. Sort x1 and then x2, both in descending
Which of the following statements correctly describe benefits of Structured Query Language (SQL)? Select all that apply. Explain if incorrect. a. SQL can be used to manipulate structured, semi structured, and unstructured data. b. SQL commands allow users to select data based on multiple
Which type of relationship―one-to-one (1:1), one-to-many (1:M), or many-to-many (M:N)―do the following business rules describe? a. One manager can supervise multiple employees, and one employee may report to multiple managers. b. A business department has multiple employees, but each
Which of the following statements best describes what a foreign key is? Select all that apply. Explain if incorrect. a. It is an attribute that uniquely identifies each instance of the entity. b. It is a primary key that consists of multiple attributes. c. It is the primary key of a
Which of the following statements correctly identify and describe the key elements of a relational database? Select all that apply. Explain if incorrect. a. A table in a relational database is a two-dimensional grid that contains actual data. b. A field or a column represents a
Cassius Weatherby is a human resources manager at a major technology firm that produces software and hardware products. He would like to analyze the net promoter score (NPS) of sales professionals at the company. The NPS measures customer satisfaction and loyalty by asking customers how likely they
Which of the following statements correctly describe the data wrangling process? Select all that apply. Explain if incorrect. a. Data wrangling is the process of retrieving, cleansing, integrating, transforming, and enriching data. b. Data wrangling is the process of defining and modeling
Last year, Oracle hired three finance majors from the local university. Robert Schneider started with a salary of $56,000, Chun Zhang with $52,000, Sunil Banerjee with $58,000, and Linda Jones with $60,000. Oracle wants to record the hiring data. a. Organize the data into a fixed-width format
Which of the following statements about entity-relationship diagrams (ERDs) are correct? Select all that apply. Explain if incorrect. a. An entity usually represents persons, places, things, or events about which we want to store data. b. A foreign key is an attribute that uniquely
A used car salesperson recently sold two Mercedes, three Toyota, six Ford, and four Hyundai sedans. He wants to record the sales data. a. Organize the data into a fixed-width format (eight characters for brand name and four characters for the number of cars sold). b. Organize the data in
The accompanying table shows a portion of the 30 companies that comprise the Dow Jones Industrial Average (DJIA). For each company, the data set lists the year that it joined the DJIA, its industry, and its stock price (in $) as of February 15, 2019 a. What is the measurement scale of the
A professor records the majors of her 30 students. A portion of the data is shown in the accompanying table. a. What is the measurement scale of these data? b. Summarize the results in tabular form. c. What information can be extracted from the data?
Which of the following variables are categorical and which are numerical? If the variable is numerical, then specify whether the variable is discrete or continuous. a. Colors of cars in a mall parking lot.b. Time it takes each student to complete a final exam.c. The number of patrons who
Which of the following variables are categorical and which are numerical? If the variable is numerical, then specify whether the variable is discrete or continuous.a. Points scored in a football game.b. Racial composition of a high school classroom.c. Heights of 15-year-olds.
Ask 20 of your friends about their online social media usage, specifically whether or not they use Facebook, Instagram, and Snapchat; how often they use each social media portal; and their overall satisfaction of each of these portals. Create a table that presents this information. Are the data
Find Under Armour’s annual revenue from the past 10 years. Are the data considered structured or unstructured? Explain. Are they cross-sectional or time series data?
Go to www.finance.yahoo.com to get the current stock quote for Home Depot (ticker symbol = HD). Use the ticker symbol to search for historical prices and create a table that includes the monthly adjusted close price of Home Depot stock for the last 12 months. Do these data represent cross-sectional
Since 1940, the Billboard magazine has published a variety of weekly music popularity charts. Today, the magazine uses a combination of sales volume, airplay on radio, digital downloads, and online streams in order to determine the chart rankings. One of the most highly watched Billboard charts is
Recent college graduates with an engineering degree continue to earn high salaries. An online search revealed that the average annual salary for an entry-level position in engineering is $65,000.a. What is the relevant population?b. Do you think the average salary of $65,000 is computed from the
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