Questions and Answers of Microsoft Excel Data Analysis 7th

The number of telephone reservation operators needed by an airline during each time of day is shown in the following table. Each operator works one of the following six-hour shifts: midnight–6:00
Suppose Bank 24 has 22 employees and that the goal is to schedule employees so that they have the maximum number of weekend days off. How should the workers be scheduled?
Suppose Bank 24 employees are paid $150 per day the first five days they work and can work a day of overtime at a cost of $350. How should the bank schedule its employees?
A hardware store has 50 riding mowers at each of its Houston, Dallas, and San Antonio warehouses. This month, 35 mowers will be sold in Houston, Dallas, San Antonio, and Austin. The costs of shipping
Suppose that each day, Northern, Central, and Southern California each use 100 billion gallons of water. Also assume that Northern California and Central California have available 120 billion gallons
The following table gives the distances between Boston, Chicago, Dallas, Los Angeles, and Miami. Each city requires 40,000 kilowatt hours (kWh) of power. Chicago, Dallas, and Miami are capable of
Your company produces and sells drugs at several different locations. The decision about where to produce goods for each sales location can have a huge impact on profitability. The model here is like
For the capital budgeting example discussed in conjunction with Figures 70-1 through 70-3, use conditional formatting to highlight in yellow fill each row corresponding to a selected project.Figure
Jill is trying to determine her class schedule for the next semester. A semester consists of two seven-week half semesters. Jill must take four courses during each half semester. There are five time
A publishing company is trying to determine which of 36 books it should publish this year.The file Pressdata.xlsx gives the following information about each book:Projected revenue and development
In the equation SEND + MORE = MONEY, each letter represents a different digit from 0–9. Which digit is associated with each letter?
Assume you want to take out a $300,000 loan on a 20-year mortgage with end-of-month payments. The annual rate of interest is 6 percent. Twenty years from now, you need to make an ending balloon
Blair’s mother is saving for her daughter’s college education. The following payments must be made at the indicated times:The following investments are available:Today, one year from now, two
I owe $10,000 on one credit card that charges 18 percent annual interest and $5,000 on another credit card that charges 12 percent annual interest. Interest for the month is based on the month’s
You have borrowed $50,000 to be repaid in 24 end-of-month payments. The annual rate of interest is 10 percent. In months 7, 13, and 19, the monthly payment increases by $500. How much should you pay
Suppose you want to locate a single restroom so that company employees have to travel the smallest possible distance per day when going to the bathroom. Employees work in four locations within the
Solve Problem 2 if the company wants to locate two restrooms.Data from in Problem 2Suppose you want to locate a single restroom so that company employees have to travel the smallest possible distance
Cook County General Hospital is attempting to schedule work for its 20 nurses. Each nurse will work four consecutive days and is assigned to one of the following schedules:Each nurse will be assigned
In the fictional state of Politicians Care About the USA, there are eight congressional districts. Each of 15 cities must be assigned to a congressional district, and each district must be assigned
A small job shop needs to schedule six jobs. The due date and days needed to complete each job are given below. In what order should the jobs be scheduled to minimize the total days the jobs are
A 3-by-3 magic square places the integers 1–9 in the square so that the sum down each column, across each row, and along the two diagonals all equal 15. Use the Evolutionary solving method to
A small supermarket is trying to determine how many copies of People magazine it should order each week. The owner believes the demand for People is governed by the following discrete random
On average, what will be the sum of the numbers generated by the formula =RANDARRAY(3,4,2,5)?
A greeting-card company is trying to determine how many Valentine’s Day greeting cards to produce. The cost of printing x cards is $2 million + 0.70x. For example, printing 1 million cards costs
The demand in pounds for kale salad on Sunday is normally distributed with a mean of 500 and a standard deviation of 100. Kale salad costs $3.00 per pound to produce and sells for $8.00 per pound. At
The Monday demand for almond croissants is normally distributed with a mean of 100 and a standard deviation of 25. It costs $1.00 to produce a croissant, which sells for $4.00. Leftover croissants
A supermarket is trying to determine how many meatloaf dinners it should produce on Monday. The Monday demand for meatloaf dinners is normally distributed with a mean of 100 and a standard deviation
An auto dealer believes that demand for 2015 model cars will be normally distributed with a mean of 200 and a standard deviation of 30. His cost of receiving a GMC Envoy is $25,000, and he sells an
How would the optimal bid change if you had 12 competitors?
Suppose you are bidding for an oil well that you believe will yield $40 million (including the cost of developing and mining the oil) in profits. Three competitors are bidding against you, and each
Baseball player Robinson Cano is asking for salary arbitration on his contract. Salary arbitration in Major League Baseball works as follows: The player submits a salary that he thinks he should be
Investor Peter Fischer is bidding to take over a biotech company. The company is equally likely to be worth any amount between $0 and $200 per share. Only the company itself knows its true value.
A commonly used continuous random variable is the uniform random variable. A uniform random variable—written as U(a, b)—is equally likely to assume any value between two given numbers a and b.
Two beverage companies are bidding on the exclusive rights to sell soda at the University of Houston for the next 10 years. Company 1 will earn 50 cents profit per bottle sold (exclusive of the
You are bidding on a project to fix all the potholes on Westheimer Road in Houston. You estimate the cost of fixing the potholes is $4 million. Four competitors are going to bid against you. Each
Suppose you believe that it is two times more likely that investment returns for each of the next five years will be more like the period 1992–2001 than the period 1972–1991. For example, the
Many mutual funds and investors hedge the risk that stocks will go down by purchasing put options. How could an asset-allocation model be used to determine an optimal hedging strategy that uses puts?
Determine the correlations (based on the 1973–2012 data) among annual returns on stocks, T-bills, and bonds. Then determine the correlations (based on the 1,000 scenarios created by bootstrapping)
Suppose you believe that over the next five years, stocks will produce returns that are 5 percent worse per year, on average, than the 1973–2012 data. Find an asset allocation among stocks,
Assume the current price of Intel stock is $20 per share. What is the probability that during the next three years, you will earn at least a 30-percent return (for the three-year period) on a
Assume the current price of Microsoft stock is $28 per share. What is the probability that in two years, the price of Microsoft stock will be at least $35? 3 4
Solve Problem 1 again, but this time assume that during the next two years, Microsoft will on average perform 6 percent better per year than it performed during the 1997–2002 period for which you
Suppose 30 people are in a room. What is the probability that at least two of them have the same birthday?
What is the probability of getting dealt one pair in five-card draw poker?
What is the probability of getting dealt two pairs in five-card draw poker?
In the game of keno, 82 balls (numbered 1–82) are mixed up, and then 20 balls are randomly drawn. Before the 20 balls are drawn, a player chooses 10 different numbers. If at least five of the
What odds should the bookmaker give on Kansas winning the Final Four if the bookmaker wants to earn an average of 10 cents per dollar bet?
What is the probability of getting dealt a flush in five-card draw poker?
If you break a one-inch stick in two places that are randomly chosen, you have three smaller sticks. What are the chances that the three sticks form a triangle?
Suppose each hitter on a baseball team has a 50 percent chance of hitting a home run and a 50 percent chance of striking out. On average, how many runs will this team score in an inning?
Katy and Taylor toss a coin 100 times. Each time heads comes up, Katy pays Taylor $1; each time tails comes up, Taylor pays Katy $2. What is the chance that Taylor is never ahead?
You toss a fair coin 20 times. Estimate the chance you throw at least four consecutive heads.
At the beginning of 2015, you have $100 invested in a stock. Each year there is a 60 percent chance that the stock increases 50 percent, a 20 percent chance the stock goes up 10 percent, and a 20
In the game blackjack, the dealer draws cards until her total is 16 or higher. Then she stops. Assume an ace counts as 1 and a jack, queen, or king counts as 10. If the dealer draws cards with
You are going to roll a fair die 50 times. If the die comes up even, you are paid the number of dots showing on the die. If the die comes up odd, you lose $1. What is the chance you are ever at least
Consider three decks of cards. Deck 1 contains 10 cards: three twos, four fives, and three nines. Deck 2 contains four cards that are numbered 1–4. Deck 3 contains six cards numbered 1–6. Gregory
You are testing a new flu drug. Of the 24 flu victims who were given the drug, 20 felt better and four felt worse. Of the nine flu victims who were given a placebo, six felt better and three felt
A talk on the dangers of high cholesterol was given to eight workers. Each worker’s cholesterol was tested both before the talk and several weeks after the talk, with the results given below. What
The beta of a stock is simply the slope of the best-fitting line used to predict the monthly return on the stock from the monthly return given in the Standard & Poor’s (S&P) 500 index. A
Merck is debating whether to invest in a pioneer biotech project. The company estimates that project is worth –$56 million. Investing in the pioneer project gives Merck the option to own, if it
Develop a worksheet that uses the following inputs to compute an annual profit:Annual fixed costUnit costUnit priceAnnual demand = 10,000 – 100 * (price)Protect the cells used to compute the
You own the rights to a biotech drug. Your best estimate is that the current value of these rights is $50 million. Assuming that the annual volatility of biotech companies is 90 percent and the
The current price of copper is 95 cents per pound. The annual volatility for copper prices is 20 percent, and the risk-free rate is 5 percent. In one year, you have the option (if you want it) to
You have an option to buy a new plane in three years for $25 million. Your current estimate of the value of the plane is $21 million. The annual volatility for the change in the plane’s value is 25
A stock is selling today for $42. The stock has an annual volatility of 40 percent, and the annual risk-free rate is 10 percent. Answer the following questions:What is a fair price for a six-month
Mr. D’s Supermarket is determined to please its customers with a customer-advantage card. Currently, 30 percent of all their shoppers are loyal to Mr. D’s. A loyal Mr. D’s customer shops at Mr.
Whirlswim Appliance is considering giving each of its customers free maintenance on each TV purchased. The company estimated that this proposal would require it to pay an average of $2.50 for each TV
Suppose the Waterford Crystal company can produce up to 100 iced-tea pitchers per day. Now suppose that the plant is open 250 days per year and that the annual demand is for 20,000 pitchers. The cost
An appliance store sells plasma TVs. The annual demand is estimated at 1,000 units. The cost to carry a TV in inventory for one year is $500, and the cost to place an order for plasma TVs is $400.
Using the same wine example as in Problem 1, determine an inventory policy for wine that yields a 99 percent service level.Problem 1Suppose a restaurant serves an average of 5,000 bottles of wine per
A reorder-point policy is often referred to as a two-bin policy. How can a reorder-point policy be implemented in a situation in which two bins are used to store inventory?
Suppose a restaurant serves an average of 5,000 bottles of wine per year. The standard deviation of the annual demand for wine is 1,000 bottles. The annual holding cost for a bottle of wine is $1. It
Thirty women work on the fifth floor of a business school. Assume that each woman uses the restroom three times a day. (The office is open from 8 a.m. to 5 p.m.) Each visit takes 180 seconds on
A bank has six tellers.Mean service time equals one minute.Mean interarrival time equals 25 seconds.Standard deviation of service times equals one minute.Standard deviation of interarrival times
A bank has six tellers.Mean service time equals one minute.Mean interarrival time equals 25 seconds.Standard deviation of service times equals one minute.Standard deviation of interarrival times
A bank has six tellers.Mean service time equals one minute.Mean interarrival time equals 25 seconds.Standard deviation of service times equals one minute.Standard deviation of interarrival times
A bank has six tellers.Mean service time equals one minute.Mean interarrival time equals 25 seconds.Standard deviation of service times equals one minute.Standard deviation of interarrival times
You are trying to determine the profit-maximizing price for a video-game console. Currently, you charge $180 and sell 2 million consoles per year. It costs $150 to produce a console, and the price
Currently, your local sports-car dealer sells 200 cars per year at a price of $150,000. The dealer’s cost of purchasing a car is $60,000. Assume that during a car’s lifetime, the dealer makes
Assume the demand for suits at a men’s clothing store is linear with a price elasticity of 5. At the current price of $500, 60 suits per week are sold. The cost per suit is $200. Assume that with
A prescription drug is produced in the United States and sold internationally. Each unit of the drug costs $60 to produce. In the German market, the drug sells for €150 per unit. The current
In the razor and blade example, suppose the cost to produce a blade is $0.20. If you charge $0.35 for a blade, a customer buys an average of 50 blades. Assume the price elasticity of demand for
Assume that a purchaser of your video-game console buys, on average, 10 video games, and you earn $10 profit on each video game. What is the correct price for consoles?
You manage a movie theater that can handle up to 8,000 patrons per week. The current demand, price, and elasticity for ticket sales, popcorn, soda, and candy are given in Figure 90-4. The theater
Suppose it costs $250 to produce a video-game console. A price from $200 to $400 is under consideration. The estimated demand for the game console is shown in the following table:What price should
This problem uses the demand information given in Problem 1. Each game owner buys an average of 10 video games. You earn $10 profit per video game. What price should you charge for the game
You are trying to determine the correct price for a new weekly magazine. The variable cost of printing and distributing a copy of the magazine is $0.50. You are thinking of charging from $0.50 to
Your local women’s clothing store pays $200 for a suit. The weekly demand for suits is estimated as follows:Assume each woman who buys a suit purchases $80 of additional garments, on which the
A drugstore is trying to determine what price to charge for a candy bar. The drugstore pays 60 cents for each candy bar and is considering charging between $1 and $2 for a candy bar. The estimated
Subscribers to my recommendation service get access to recommendations about local workers, such as doctors, plumbers, and so on. I believe the number of new subscribers I obtain each month depends
The number of ink-jet printers sold in a week by your local electronics store is estimated to have the following dependence on price:The store pays $50 for each ink-jet printer. On average, each
Using the information given for Problem 1, suppose you are going to offer a pure bundle. For example, a member can play up to five rounds of golf for $60 per month. The member has no option to choose
Suppose you own a small country club and have three types of customers who value each round of golf they play during a month, as shown in the following table:Find a profit-maximizing two-part tariff.
The file Customers.xlsx computes ending year-10 customers based on three inputs: starting customers, annual number of new customers, and churn rate. Create a spider plot that shows how ending year-10
Write a formula that will return a time 18 hours after the current time.
If my price for a product is at least $3 higher than the competitor’s price, we sell 500 units. If my price is at least $3 lower than the competitor’s price we sell 1,500 units. Otherwise, we
At the beginning of Year 1, your auto-insurance premium for the next year is $300. If you have zero accidents in a year, your premium for the next year drops 10 percent; if you have one accident in a
Using the data in the file named Catsanddogs.xlsx, determine how many times the text string cat appears and how many times the text string dog occurs.
Thanksgiving occurs on the fourth Thursday in November. Write a formula that computes (given the year) the date of Thanksgiving.
The first quarter of the year is January to March; the second quarter, April to June; the third quarter, July to September; and the fourth quarter, October to December. Write a formula that returns

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