Essentials of Business Analytics 1st edition solutions

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Essentials of Business Analytics 1st edition Solutions Manual

Name: Essentials of Business Analytics
Rating: 4.3 (6 reviews)
Author: CrazyForStudy
ISBN: 9781285187273

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Edition: 1st edition

Author: Crazy for study

ISBN: 9781285187273

4.3 Rating

6 Reviews

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Chapter

Section

Question

Question : 1P

Problem
- A Wall Street Journal subscriber survey asked 46 questions about subscriber characteristics and interests. State whether each of the following questions provides categorical or quantitative data. a. What is your age? b. Are you male or female? c. When did you first start reading the WSJ? High school, college, early career, midcareer, late career, or retirement? d. How long have you been in your present job or position? e. What type of vehicle are you considering for your next purchase? Nine response categories include sedan, sports car, SUV, minivan, and so on.
Question : 2P

Problem
- The following table contains a partial list of countries, the continents on which they are located, and their respective gross domestic products (GDP) in U.S. dollars. A list of 125 countries and their GDPs is contained in the file GDPlist. a. Sort the countries in GDPlist from largest to smallest GDP. What are the top ten countries according to GDP? b. Filter the countries to display only the countries located in Africa. What are the top five countries located in Africa according to GDP? c. What are the top five countries by GDP that are located in Europe?
Question : 3P

Problem
- Ohio Logistics manages the logistical activities for firms by matching companies that need products shipped with carriers that can provide the best rates and best service for the companies. Ohio Logistics is very concerned that it uses carriers that get their customers
Question : 4P

Problem
- A partial relative frequency distribution is given. a. What is the relative frequency of class D? b. The total sample size is 200. What is the frequency of class D? c. Show the frequency distribution. d. Show the percent frequency distribution.
Question : 5P

Problem
- In a recent report, the top five syndicated television programs were The Big Bang Theory (BBT), Judge Judy (JJ), Wheel of Fortune (WoF), Jeopardy (Jep), and Two and a Half Men (THM). The preferred shows for a sample of 50 viewers are shown in the following table: WoF Jep JJ Jep BBT THM WoF BBT BBT BBT Jep BBT WoF WoF WoF WoF THM BBT THM WoF BBT JJ JJ Jep BBT BBT BBT JJ JJ Jep JJ WoF THM WoF WoF THM BBT WoF JJ JJ Jep BBT WoF Jep Jep WoF THM BBT BBT Jep a. Are these data categorical or quantitative? b. Provide frequency and percent frequency distributions. c. On the basis of the sample, which television show has the largest viewing audience? Which one has the second largest?
Question : 6P

Problem
- In a study of how chief executive officers (CEOs) spend their days, it was found that CEOs spend an average of about 18 hours per week in meetings, not including conference calls, business meals, and public events. Shown here are the times spent per week in meetings (hours) for a sample of 25 CEOs: 14 15 18 23 15 19 20 13 15 23 23 21 15 20 21 16 15 18 18 19 19 22 23 21 12 a. What is the least amount of time a CEO spent per week on meetings in this sample? The highest? b. Use a class width of 2 hours to prepare a frequency distribution and a percent frequency distribution for the data. c. Prepare a histogram and comment on the shape of the distribution.
Question : 7P

Problem
- Consumer complaints are frequently reported to the Better Business Bureau. Industries with the most complaints to the Better Business Bureau are often banks, cable and satellite television companies, collection agencies, cellular phone providers, and new car dealerships. The results for a sample of 200 complaints are in the file BBB. a. Show the frequency and percent frequency of complaints by industry. b. Which industry had the highest number of complaints? c. Comment on the percentage frequency distribution for complaints.
Question : 8P

Problem
- Reports have found that many U.S. adults would rather live in a different type of community than where they are living. A national survey of 2260 adults asked:
Question : 9P

Problem
- Consider the following data. 14 24 18 22 19 18 16 22 24 17 15 16 19 23 24 16 16 26 21 16 20 22 16 12 24 23 19 25 20 25 21 19 21 25 23 24 22 19 20 20 a. Develop a frequency distribution using classes of 12
Question : 10P

Problem
- Consider the following frequency distribution. Construct a cumulative frequency distribution
Question : 11P

Problem
- The owner of an automobile repair shop studied the waiting times for customers who arrive at the shop for an oil change. The following data with waiting times in minutes were collected over a 1-month period. 2 5 10 12 4 4 5 17 11 8 9 8 12 21 6 8 7 13 18 3 Using classes of 0
Question : 12P

Problem
- Approximately 1.65 million high school students take the Scholastic Aptitude Test (SAT) each year, and nearly 80 percent of the college and universities without open admissions policies use SAT scores in making admission decisions. The current version of the SAT includes three parts: reading comprehension, mathematics, and writing. A perfect combined score for all three parts is 2400. A sample of SAT scores for the combined three-part SAT are as follows: 1665 1525 1355 1645 1780 1275 2135 1280 1060 1585 1650 1560 1150 1485 1990 1590 1880 1420 1755 1375 1475 1680 1440 1260 1730 1490 1560 940 1390 1175 a. Show a frequency distribution and histogram. Begin with the first bin starting at 800, and use a bin width of 200. b. Comment on the shape of the distribution. c. What other observations can be made about the SAT scores based on the tabular and graphical summaries?
Question : 13P

Problem
- Consider a sample with data values of 10, 20, 12, 17, and 16. a. Compute the mean and median. b. Consider a sample with data values 10, 20, 12, 17, 16, and 12. How would you expect the mean and median for these sample data to compare to the mean and median for part a (higher, lower, or the same)? Compute the mean and median for the sample data 10, 20, 12, 17, 16, and 12.
Question : 14P

Problem
- Consider a sample with data values of 27, 25, 20, 15, 30, 34, 28, and 25. Compute the 20th, 25th, 65th, and 75th percentiles.
Question : 15P

Problem
- Consider a sample with data values of 53, 55, 70, 58, 64, 57, 53, 69, 57, 68, and 53. Compute the mean, median, and mode.
Question : 16P

Problem
- If an asset declines in value from $5,000 to $3,500 over 9 years, what is the mean annual growth rate in the asset
Question : 17P

Problem
- Suppose that you initially invested $10,000 in the Stivers mutual fund and $5,000 in the Trippi mutual fund. The value of each investment at the end of each subsequent year is provided in the table: Which of the two mutual funds performed better over this time period?
Question : 18P

Problem
- The average time that Americans commute to work is 27.7 minutes (Sterling
Question : 19P

Problem
- Suppose that the average waiting time for a patient at a physician
Question : 20P

Problem
- According to the National Education Association (NEA), teachers generally spend more than 40 hours each week working on instructional duties. The following data show the number of hours worked per week for a sample of 13 high school science teachers and a sample of 11 high school English teachers. High school science teachers 53 56 54 54 55 58 49 61 54 54 52 53 54 High school English teachers 52 47 50 46 47 48 49 46 55 44 47 a. What is the median number of hours worked per week for the sample of 13 high school science teachers? b. What is the median number of hours worked per week for the sample of 11 high school English teachers? c. Create a box plot for the number of hours worked for high school science teachers. d. Create a box plot for the number of hours worked for high school English teachers. e. Comment on the differences between the box plots for science and English teachers.
Question : 21P

Problem
- Return to the waiting times given for the physician
Question : 22P

Problem
- The results of a national survey showed that on average, adults sleep 6.9 hours per night. Suppose that the standard deviation is 1.2 hours and that the number of hours of sleep follows a bell-shaped distribution. a. Use the empirical rule to calculate the percentage of individuals who sleep between 4.5 and 9.3 hours per day. b. What is the z-value for an adult who sleeps 8 hours per night? c. What is the z-value for an adult who sleeps 6 hours per night?
Question : 23P

Problem
- Suppose that the national average for the math portion of the College Board
Question : 24P

Problem
- Five observations taken for two variables follow. xi 4 6 11 3 16 yi 50 50 40 60 30 a. Develop a scatter diagram with x on the horizontal axis. b. What does the scatter diagram developed in part a indicate about the relationship c. Compute and interpret the sample covariance. d. Compute and interpret the sample correlation coefficient.
Question : 25P

Problem
- The scatter chart in the following figure was created using sample data for profits and market capitalizations from a sample of firms in the Fortune 500. 0 Profits ($ millions) Market Cap ($ millions) 0 4,000 8,000 12,000 16,000 200,000 160,000 120,000 80,000 40,000 a. What does this scatter chart indicate about the relationship between profits and market capitalization? Discuss. b. The data used to produce this are contained in the file Fortune500. Calculate the covariance between profits and market capitalization. What does the covariance indicate about the relationship between profits and market capitalization? Discuss. c. Calculate the correlation coefficient between profits and market capitalization. What does the correlations coefficient indicate about the relationship between profits and market capitalization?
Question : 26P

Problem
- The recent economic downturn resulted in the loss of jobs and an increase in delinquent loans for housing. In projecting where the real estate market was headed in the coming year, economists studied the relationship between the jobless rate and the percentage of delinquent loans. The expectation was that if the jobless rate continued to increase, there would also be an increase in the percentage of delinquent loans. The following data show the jobless rate and the delinquent loan percentage for 27 major real estate markets. a. Compute the correlation coefficient. Is there a positive correlation between the jobless rate and the percentage of delinquent housing loans? What is your interpretation? b. Show a scatter diagram of the relationship between the jobless rate and the percentage

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*We are the Amazon Partner and students can purchase the books shown on this page. We are also providing an authentic solution manual, formulated by our SMEs, for the same.

This book provides coverage over the full range of analytics--descriptive, predictive, prescriptive--not covered by any other single book. It includes step-by-step instructions to help students learn how to use Excel and powerful but easy to use Excel add-ons such as XL Miner for data mining and Analytic Solver Platform for optimization and simulation. Sample questions asked in the 1st edition of essentials of business analytics: Air pollution control specialists in southern California monitor the amount of ozone, carbon dioxide, and nitrogen dioxide in the air on an hourly basis. The hourly time series data exhibit seasonality, with the levels of pollutants showing patterns that vary over the hours in the day. On July 15, 16, and 17, the following levels of nitrogen dioxide were observed for the 12 hours from 6:00 a.m. to 6:00 p.m.: a. Construct a time series plot. What type of pattern exists in the data? b Use a multiple linear regression model with dummy variables a s follows to develop an equation to account for seasonal effects in the data: Hour1 5 1 if the reading was made between 6:00 a.m. and 7:00a.m.. 0 otherwise. Hour2 5 1 if the reading was made between 7:00 a.m. and 8:00 a.m.. 0 otherwise. . . . Hour11 5 1 if the reading was made between 4:00 p.m. and 5:00 p.m., 0 otherwise. Note that when the values of the 11 dummy variables are equal to 0, the observation corresponds to the 5:00 p.m. to 6:00 p.m. hour. c. Using the equation developed in part b, compute estimates of the levels of nitrogen dioxide for July 18. d. Let t 5 1 to refer to the observation in hour 1 on July 15. t 5 2 to refer to the observation in hour 2 of July 15. ? and t 5 36 to refer to the observation in hour 12 of July 17. Using the dummy variables defined in part b and t s , develop an equation to account for seasonal effects and any linear trend in the time series. e. Based upon the seasonal effects in the data and linear trend estimated in part d, compute estimates of the levels of nitrogen dioxide for July 18. f. Is the model you developed in part b or the model you developed in part d more effective? Justify your answer. The Ajax Company uses a portfolio approach to manage their research and development (R&D) projects. Ajax wants to keep a mix of projects to balance the expected return and risk profiles of their R&D activities. Consider the situation where Ajax has six R&D projects as characterized in the table. Each project is given an expected rate of return and a risk assessment, which is a value between 1 and 10 where 1 is the least risky and 10 is the most risky. Ajax would like to visualize their current R&D projects to keep track of the overall risk and return of their R&D portfolio. a. Create a bubble chart where the expected rate of return is along the horizontal axis, the risk estimate is on the vertical axis, and the size of the bubbles represents the amount of capital invested. Format this chart for best presentation by adding axes labels and labeling each bubble with the project number. b. The efficient frontier of R&D projects represents the set of projects that have the highest expected rate of return for a given level of risk. In other words, any project that has a smaller expected rate of return for an equivalent, or higher, risk estimate cannot be on the efficient frontier. From the bubble chart in part a., what projects appear to be located on the efficient frontier? Resorts&Spas, a magazine devoted to upscale vacations and accommodations, published its Reader?s Choice List of the top 20 independent beachfront boutique hotels in the world. The data shown are the scores received by these hotels based on the results from Resorts&Spas? annual Readers? Choice Survey. Each score represents the percentage of respondents who rated a hotel as excellent or very good on one of three criteria (comfort, amenities, and in-house dining). An overall score was also reported and used to rank the hotels. The highest ranked hotel, the Muri Beach Odyssey, has an overall score of 94.3, the highest component of which is 97.7 for in-house dining. a. Determine the estimated multiple linear regression equation that can be used to predict the overall score given the scores for comfort, amenities, and in-house dining. b. Use the F test to determine the overall significance of the regression relationship. What is the conclusion at the 0.01 level of significance? c. Use the t test to determine the significance of each independent variable. What is the conclusion for each test at the 0.01 level of significance? d. Remove all independent variables that are not significant at the 0.01 level of significance from the estimated regression equation. What is your recommended estimated regression equation? To save on expenses, Rona and Jerry agreed to form a carpool for traveling to and from work. Rona prefers to use the somewhat longer but more consistent Queen City Avenue. Although Jerry prefers the quicker expressway, he agreed with Rona that they should take Queen City Avenue if the expressway has a traffic jam. The following payoff table provides the one-way time estimate in minutes for traveling to or from work: Based on their experience with traffic problems, Rona and Jerry agreed on a 0.15 probability that the expressway would be jammed. In addition, they agreed that weather seemed to affect the traffic conditions on the expressway. Let The following conditional probabilities apply: a. Use Bayes? theorem for probability revision to compute the probability of each weather condition and the conditional probability of the expressway being open, s 1, or jammed, s 2, given each weather condition. b. Show the decision tree for this problem. c. What is the optimal decision strategy, and what is the expected travel time?

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