Categories
Data Analytics

1-Weekly Assignment Content Week # 5 – Exercises Chapter # 4 Open Week # 5 – Cha

1-Weekly Assignment Content
Week # 5 – Exercises Chapter # 4
Open Week # 5 – Chapter 4 – Level 1 B – Exercises.pdf save it to do the exercises
Week # 5 – Chapter 4 – Level 1 B -Exercise.pdf
Make Exercise Ch4-1-B: Level 1 – Evaluating Job Applications for the AAA Company
Use the Initial Data File
Hiring-1.xlsx
Une short explanation about the exercise is provided:
Explanation for Week # 5 – Chapter 4 – Level 1 B -Exercise.pdf

Categories
Data Analytics

Please refer to Practice problem set 4 solutions to get some guidance on this Ho

Please refer to Practice problem set 4 solutions to get some guidance on this Homework and follow the structure for your solution process.
Please solve the problems using Minitab as the tool.Present the business conclusions in a short non-statistical summary.
Please do the analysis using Minitab and follow the following general structure for presenting your solution to each of the business problems:
State the business problem in plain English
State the equivalent statistical problem that addresses the stated business problem
Identify and list all the necessary variables needed to address the stated statistical problem
List all the data available to address the statistical problem
Present the Minitab results
State the statistical conclusions (drawn from the Minitab analysis)
State your business conclusions/recommendations in a short paragraph or memo in plain English.
Your hospital is negotiating with medical insurance providers, who would like to reduce the amount they pay as reimbursement for hospital stays.For a particular procedure, they would like to reduce payment by $300 and have patients go home one day earlier.To see what effect this would have on hospital costs, a random sample of 50 patients who were recently admitted for this procedure was analyzed.Had they left one day earlier, the average hospital cost would have been $322.44 less, and the standard deviation was found to be $21.71.Construct a 95% confidence interval for the mean net savings for the hospital, per patient, for the larger population of recent patients.
The Glen Valley Steel Company manufactures steel bars.If the production process is working properly, it turns out steel bars with lengths that are normally distributed with a mean of at least 2.8 feet, with a standard deviation of 0.20 foot (as determined by the engineering specifications on the production equipment involved).Longer steel bars can be used or altered, but shorter steel bars must be scrapped.You select a sample of 25 bars, and the mean length is 2.73 feet.Do you need to adjust the production equipment?(use a significance level of 0.05).
(Source: LSKB-5)
Meier and Frank is a chain of department stores located in the Northwest.The company has issued its own credit cards for a number of years.As a new employee in the finance department, imagine that you have been assigned to a major investigation of the firm’s credit policies designed to reduce bad debt losses.You are requested to investigate the relationship between marital status at the time the card is issued and the subsequent payment record of the individual.
You randomly select 100 credit cards issued three years previously.Of the 70 individuals that were married at the time the cards were issued, 11 have defaulted on a payment.Of the 30 individualswho were single when the cards were issued, 7 have defaulted.Do these data present sufficient evidence to indicate that marital status affects credit-worthiness?Use Alpha = 0.05.
(Source: Unknown – 326RL?)
The National Restaurant Association is interested in determining if there is a relationship between the type of pizza pie which Americans prefer and the region of the country in which they live.The association randomly selects 285 Americans and records the category of pizza pie which best describes their preference and the region of the country in which they live.The results are as follows:
Type of PizzaRegion
Pie PreferredNorthSouthEastWest
Thin Crust40303545
Thick Crust17152122
Pan Pizza15151515
———————————————————–
At α = .10, what can the Association conclude?
(Source: Unknown)
Fancy Fish, a fine dining upscale restaurant in Northridge, California and 2016 Open Table Diners’ Choice award winner, is enjoying its eighteenth season of providing delectable food, exceptional service, and beautiful outdoor dining experiences.“Saturday – Half-off Bottled Wine Night” has made Fancy Fish one of the San Fernando Valley’s favorite restaurants.Every Saturday night, guests can enjoy half-off every bottle of wine on the wine list while dining in the restaurant or on the terrace.The owner began offering “Saturday – Half-off Bottled Wine Night” in 2010 as an incentive for guests to dine at Fancy Fish when the economy was in a recession.Now that the economy is booming, the owner is considering whether the promotion should be continued, or even expanded. One concern is the effect that the promotion is having on the overall revenue generated from sales to the participants.
A random sample of 28 checks was collected over the course of one month of Saturday nights. Fourteen checks were from customers participating in the half-off promotion, and the other 14 checks were from customers not participating. The total revenue from each check (less alcohol, tax, and tip) is presented below. Do these data present sufficient evidence that the checks of participants is significantly different from checks of non-participants? What is your recommendation to the owner regarding the status of the promotion?
With Wine Discount
W/O Wine Discount

35
46

35
44

36
29

36
29

48
29

29
60

36
64

43
47

24
47

13
49

36
53

50
51

22
44

32
36

(Source: Adapted from Smith, R. (2014). Evaluation of L.B’s Tuesdays – Half off bottled wine night (Unpublished class project submission). University of Redlands, Redlands, CA.)
6.A major distillery for alcoholic beverages is interested in gaining a large share of the market composed of people aged 18-23 (in those states where 18 is the legal drinking age).Beer and wine are the traditional favorites of this age group.However, Bill Schuessler, the firm’s marketing manager, and Carol Pringle, manager of research and development, feel that a new version of distilled apple cider will appeal to this younger market.While they are sure that the alcohol content should remain below 5 percent, they are not sure exactly what it should be.Therefore, five versions of the cider have been prepared and each version has been tasted by a random sample of 25 young consumers.Each consumer has evaluated the drink on a 100-point scale, with the higher scores representing a greater liking for the product.The results of the test appear below. What should Schuessler and Pringle conclude?
Version
1% 2%3%4%5%
1640818953
1862819520
7211351098
5749167067
3040839492
1663350608
9677202059
3993642049
3162763803
7891194732
0393333047
7442332872
0906099095
4223124225
1615080204
2145407420
2158578050
5661789597
4565669924
9134849849
9122212035
5007381421
6539052258
2750961344
3716948517
(Source: Unknown)
7.Morning House is a mail-order firm which carries a wide range of rather expensive art objects for homes and offices.It operates by advertising a particular item either in selected magazines or in a direct-mail program.Suppose the sales response varies widely by item and the firm’s management has been unable to predict in advance which items will sell well and which will not.Consequently the firm frequently experiences either stock-outs or excessive inventories.
For many of the products Morning House sells, it is possible to order a limited amount for inventory and to place a subsequent order for delivery within two weeks.Thus, if the firm could make a early prediction of the ultimate sales of a product, its inventory problems would be greatly reduced.Since it takes approximately six weeks to receive 90% of the response to a given campaign, an accurate prediction of total sales made as late as the end of the first week of receiving orders would be useful.
The first week’s sales and total sales of the last 12 campaigns of the firm are shown below.Can the first week’s sales be used to predict total sales?
First week’sTotal
CampaignSalesSales
132167
22091
3114560
466335
51870
6125650
783401
865320
994470
10515
1139210
1250265
——————————————–
(Source: Unknown)

Questions?
If something is not clear, ask for clarification by emailing. Do not answer the wrong question (and commit a type III error) and get penalized on the grade.

Hints:
Here are some common mistakes made on this HW & some suggestions to avoid them:
Problem
Suggestion

Not specifying your answer clearly (and require the instructor to fish for the answer)
Explicitly follow the seven parts (a through g) structure to answer each question. Also, follow the structure in in-class and practice problem set solutions for your answers.

Not addressing all the requirements
Read and follow all instructions.Create a checklist for your use to insure your report meets/addresses all requirements.

Choosing the wrong analysis
Be sure to check the number and type of your variables and make sure they are the correct ones for the analysis you choose. (Refer to the Yellow Sheet as necessary.

Not separately stating your answer
State the answer to each part in mathematical terms and with a business conclusion, Follow the in-class and practice sets as examples.

Problem 1- not stating a CI for the savings
Make sure after you calculate the CI for the cost savings, you express your answer as a CI for the savings after adjustment for the change in insurance reimbursement.

Problems 2 and 5- Wrong # of tails or direction of tail(s)
Read the problem carefully

Problem 3- Wrong numbers in the cells
Make sure the grand total is 100

Problem 6- Choosing the wrong analysis
See note above

Categories
Data Analytics

Task 1: Conduct a critical review of the survey and its outcomes. Suggest improv

Task 1:
Conduct a critical review of the survey and its outcomes. Suggest improvements to the survey in terms of data coverage and data metrics. You may refer to external sources of information to justify your evaluation.
Task 2:
Develop two analytics solutions to analyse the dataset using data visualisation software packages.
You need to select either one of IBM Cognos or SAP Lumira as the first software to build the first visualization dashboard
It’s mandatory to select Power BI as the second software package to build the second visualization dashboard
It is recommended to explore insights among data to pinpoint characteristics of each segment – for example, age or gender distribution for product type.
Task 3:
Based on the insights obtained from the analytics solutions and any external sources of information, recommend effective marketing strategies (market opportunities, targeted customers, channels for campaigns, etc.) for a potential client intending to enter these new industry segments in Australia. You need to decide on the number of recommendations with a brief justification for your choice. Recommendations should refer to visualisations (a combination of diagrams and charts) from your analytics solutions and external references.
(Note: You are free to make reasonable assumptions and justifications given the educational nature of this case study.)

Categories
Data Analytics

Please refer to Practice problem set 4 solutions to get some guidance on this Ho

Please refer to Practice problem set 4 solutions to get some guidance on this Homework and follow the structure for your solution process.
Please solve the problems using Minitab as the tool.Present the business conclusions in a short non-statistical summary.
Please do the analysis using Minitab and follow the following general structure for presenting your solution to each of the business problems:
State the business problem in plain English
State the equivalent statistical problem that addresses the stated business problem
Identify and list all the necessary variables needed to address the stated statistical problem
List all the data available to address the statistical problem
Present the Minitab results
State the statistical conclusions (drawn from the Minitab analysis)
State your business conclusions/recommendations in a short paragraph or memo in plain English.
Your hospital is negotiating with medical insurance providers, who would like to reduce the amount they pay as reimbursement for hospital stays.For a particular procedure, they would like to reduce payment by $300 and have patients go home one day earlier.To see what effect this would have on hospital costs, a random sample of 50 patients who were recently admitted for this procedure was analyzed.Had they left one day earlier, the average hospital cost would have been $322.44 less, and the standard deviation was found to be $21.71.Construct a 95% confidence interval for the mean net savings for the hospital, per patient, for the larger population of recent patients.
The Glen Valley Steel Company manufactures steel bars.If the production process is working properly, it turns out steel bars with lengths that are normally distributed with a mean of at least 2.8 feet, with a standard deviation of 0.20 foot (as determined by the engineering specifications on the production equipment involved).Longer steel bars can be used or altered, but shorter steel bars must be scrapped.You select a sample of 25 bars, and the mean length is 2.73 feet.Do you need to adjust the production equipment?(use a significance level of 0.05).
(Source: LSKB-5)
Meier and Frank is a chain of department stores located in the Northwest.The company has issued its own credit cards for a number of years.As a new employee in the finance department, imagine that you have been assigned to a major investigation of the firm’s credit policies designed to reduce bad debt losses.You are requested to investigate the relationship between marital status at the time the card is issued and the subsequent payment record of the individual.
You randomly select 100 credit cards issued three years previously.Of the 70 individuals that were married at the time the cards were issued, 11 have defaulted on a payment.Of the 30 individualswho were single when the cards were issued, 7 have defaulted.Do these data present sufficient evidence to indicate that marital status affects credit-worthiness?Use Alpha = 0.05.
(Source: Unknown – 326RL?)
The National Restaurant Association is interested in determining if there is a relationship between the type of pizza pie which Americans prefer and the region of the country in which they live.The association randomly selects 285 Americans and records the category of pizza pie which best describes their preference and the region of the country in which they live.The results are as follows:
Type of PizzaRegion
Pie PreferredNorthSouthEastWest
Thin Crust40303545
Thick Crust17152122
Pan Pizza15151515
———————————————————–
At α = .10, what can the Association conclude?
(Source: Unknown)
Fancy Fish, a fine dining upscale restaurant in Northridge, California and 2016 Open Table Diners’ Choice award winner, is enjoying its eighteenth season of providing delectable food, exceptional service, and beautiful outdoor dining experiences.“Saturday – Half-off Bottled Wine Night” has made Fancy Fish one of the San Fernando Valley’s favorite restaurants.Every Saturday night, guests can enjoy half-off every bottle of wine on the wine list while dining in the restaurant or on the terrace.The owner began offering “Saturday – Half-off Bottled Wine Night” in 2010 as an incentive for guests to dine at Fancy Fish when the economy was in a recession.Now that the economy is booming, the owner is considering whether the promotion should be continued, or even expanded. One concern is the effect that the promotion is having on the overall revenue generated from sales to the participants.
A random sample of 28 checks was collected over the course of one month of Saturday nights. Fourteen checks were from customers participating in the half-off promotion, and the other 14 checks were from customers not participating. The total revenue from each check (less alcohol, tax, and tip) is presented below. Do these data present sufficient evidence that the checks of participants is significantly different from checks of non-participants? What is your recommendation to the owner regarding the status of the promotion?
With Wine Discount
W/O Wine Discount

35
46

35
44

36
29

36
29

48
29

29
60

36
64

43
47

24
47

13
49

36
53

50
51

22
44

32
36

(Source: Adapted from Smith, R. (2014). Evaluation of L.B’s Tuesdays – Half off bottled wine night (Unpublished class project submission). University of Redlands, Redlands, CA.)
6.A major distillery for alcoholic beverages is interested in gaining a large share of the market composed of people aged 18-23 (in those states where 18 is the legal drinking age).Beer and wine are the traditional favorites of this age group.However, Bill Schuessler, the firm’s marketing manager, and Carol Pringle, manager of research and development, feel that a new version of distilled apple cider will appeal to this younger market.While they are sure that the alcohol content should remain below 5 percent, they are not sure exactly what it should be.Therefore, five versions of the cider have been prepared and each version has been tasted by a random sample of 25 young consumers.Each consumer has evaluated the drink on a 100-point scale, with the higher scores representing a greater liking for the product.The results of the test appear below. What should Schuessler and Pringle conclude?
Version
1% 2%3%4%5%
1640818953
1862819520
7211351098
5749167067
3040839492
1663350608
9677202059
3993642049
3162763803
7891194732
0393333047
7442332872
0906099095
4223124225
1615080204
2145407420
2158578050
5661789597
4565669924
9134849849
9122212035
5007381421
6539052258
2750961344
3716948517
(Source: Unknown)
7.Morning House is a mail-order firm which carries a wide range of rather expensive art objects for homes and offices.It operates by advertising a particular item either in selected magazines or in a direct-mail program.Suppose the sales response varies widely by item and the firm’s management has been unable to predict in advance which items will sell well and which will not.Consequently the firm frequently experiences either stock-outs or excessive inventories.
For many of the products Morning House sells, it is possible to order a limited amount for inventory and to place a subsequent order for delivery within two weeks.Thus, if the firm could make a early prediction of the ultimate sales of a product, its inventory problems would be greatly reduced.Since it takes approximately six weeks to receive 90% of the response to a given campaign, an accurate prediction of total sales made as late as the end of the first week of receiving orders would be useful.
The first week’s sales and total sales of the last 12 campaigns of the firm are shown below.Can the first week’s sales be used to predict total sales?
First week’sTotal
CampaignSalesSales
132167
22091
3114560
466335
51870
6125650
783401
865320
994470
10515
1139210
1250265
——————————————–
(Source: Unknown)

Questions?
If something is not clear, ask for clarification by emailing. Do not answer the wrong question (and commit a type III error) and get penalized on the grade.

Hints:
Here are some common mistakes made on this HW & some suggestions to avoid them:
Problem
Suggestion

Not specifying your answer clearly (and require the instructor to fish for the answer)
Explicitly follow the seven parts (a through g) structure to answer each question. Also, follow the structure in in-class and practice problem set solutions for your answers.

Not addressing all the requirements
Read and follow all instructions.Create a checklist for your use to insure your report meets/addresses all requirements.

Choosing the wrong analysis
Be sure to check the number and type of your variables and make sure they are the correct ones for the analysis you choose. (Refer to the Yellow Sheet as necessary.

Not separately stating your answer
State the answer to each part in mathematical terms and with a business conclusion, Follow the in-class and practice sets as examples.

Problem 1- not stating a CI for the savings
Make sure after you calculate the CI for the cost savings, you express your answer as a CI for the savings after adjustment for the change in insurance reimbursement.

Problems 2 and 5- Wrong # of tails or direction of tail(s)
Read the problem carefully

Problem 3- Wrong numbers in the cells
Make sure the grand total is 100

Problem 6- Choosing the wrong analysis
See note above

Categories
Data Analytics

The first assignment aims to assess analytical thinking as well as technical ski

The first assignment aims to assess analytical thinking as well as technical skills in the use of self-service analytics software packages to develop an analytics solution. You are required to understand the business context, apply the analytics software packages to explore the given dataset to unveil the business insights, and make analytics recommendations. You are also tasked to develop an analytics report to convey your findings.
Task 1:
Conduct a critical review of the survey and its outcomes. Suggest improvements to the survey in terms of data coverage and data metrics. You may refer to external sources of information to justify your evaluation.
Task 2:
Develop two analytics solutions to analyse the dataset using data visualisation software packages.
You need to select either one of IBM Cognos or SAP Lumira as the first software to build the first visualization dashboard
It’s mandatory to select Power BI as the second software package to build the second visualization dashboard
It is recommended to explore insights among data to pinpoint characteristics of each segment – for example, age or gender distribution for product type.
Task 3:
Based on the insights obtained from the analytics solutions and any external sources of information, recommend effective marketing strategies (market opportunities, targeted customers, channels for campaigns, etc.) for a potential client intending to enter these new industry segments in Australia. You need to decide on the number of recommendations with a brief justification for your choice. Recommendations should refer to visualisations (a combination of diagrams and charts) from your analytics solutions and external references.
(Note: You are free to make reasonable assumptions and justifications given the educational nature of this case study.)
Report Guidelines
1. The report should consist of a ‘table of contents’, an ‘introduction’, logically organised sections or topics, a ‘conclusion’ and a ‘list of references’.
2. Choose a fitting sequence of sections or topics for the body of the report. Three sections for the three tasks are essential, you may add other sections deemed relevant.
3. You must include diagrams, tables and charts from the analytics solutions to effectively present your recommendations. (Consider using Alt + Print Screen or Snipping to capture screenshots).
4. Page limit: At least five (5) pages for the main report writing but not more than ten (10) pages.
5. Reports should be written in Microsoft Word (font size 11) and submitted as a Word file. (The PDF file is acceptable.)
6. Final submission will comprise three separate files, two analytics solution files and the written report as a Word file. Do not compress these files into a zipped archive, submit as three separate files.
_Assignment1_Report.doc
_Assignment1_Solution.lumx or _Assignment1_Solution.cdd
_Assignment1_Solution.pbix

Categories
Data Analytics

The first assignment aims to assess analytical thinking as well as technical ski

The first assignment aims to assess analytical thinking as well as technical skills in the use of self-service analytics software packages to develop an analytics solution. You are required to understand the business context, apply the analytics software packages to explore the given dataset to unveil the business insights, and make analytics recommendations. You are also tasked to develop an analytics report to convey your findings.
Task 1:
Conduct a critical review of the survey and its outcomes. Suggest improvements to the survey in terms of data coverage and data metrics. You may refer to external sources of information to justify your evaluation.
Task 2:
Develop two analytics solutions to analyse the dataset using data visualisation software packages.
You need to select either one of IBM Cognos or SAP Lumira as the first software to build the first visualization dashboard
It’s mandatory to select Power BI as the second software package to build the second visualization dashboard
It is recommended to explore insights among data to pinpoint characteristics of each segment – for example, age or gender distribution for product type.
Task 3:
Based on the insights obtained from the analytics solutions and any external sources of information, recommend effective marketing strategies (market opportunities, targeted customers, channels for campaigns, etc.) for a potential client intending to enter these new industry segments in Australia. You need to decide on the number of recommendations with a brief justification for your choice. Recommendations should refer to visualisations (a combination of diagrams and charts) from your analytics solutions and external references.
(Note: You are free to make reasonable assumptions and justifications given the educational nature of this case study.)
Report Guidelines
1. The report should consist of a ‘table of contents’, an ‘introduction’, logically organised sections or topics, a ‘conclusion’ and a ‘list of references’.
2. Choose a fitting sequence of sections or topics for the body of the report. Three sections for the three tasks are essential, you may add other sections deemed relevant.
3. You must include diagrams, tables and charts from the analytics solutions to effectively present your recommendations. (Consider using Alt + Print Screen or Snipping to capture screenshots).
4. Page limit: At least five (5) pages for the main report writing but not more than ten (10) pages.
5. Reports should be written in Microsoft Word (font size 11) and submitted as a Word file. (The PDF file is acceptable.)
6. Final submission will comprise three separate files, two analytics solution files and the written report as a Word file. Do not compress these files into a zipped archive, submit as three separate files.
_Assignment1_Report.doc
_Assignment1_Solution.lumx or _Assignment1_Solution.cdd
_Assignment1_Solution.pbix

Categories
Data Analytics

Chapter 3, Question #11- The first file I attached – Construct an appropriate ch

Chapter 3, Question #11- The first file I attached – Construct an appropriate chart to show the relative value of funds in each investment category in the Excel file Retirement Portfolio. This question will be manually graded. Chapter 4 . —– 19 question – Construct an appropriate chart to show the relative value of funds in each investment category in the Excel file Retirement Portfolio. ——-
Chapter 4 —- 21 question . – Use a PivotTable to construct a cross-tabulation for marital status and housing type for the Base Data worksheet in the Excel file Credit Risk Data — chapter 4, question 66 Compute the z-scores for the data in the Excel file Airport Service Times. How many observations fall farther than three standard deviations from either side of the mean? Would you consider these as outliers? Why or why not? CHAPTER 6: question 33 Using data in the Excel file Colleges and Universities, find 95% confidence intervals for the median SAT for each of the two groups, liberal arts colleges and research universities. Based on these confidence intervals, does there appear to be a difference in the median SAT scores between the two groups? Chapter 7- question 16- Using the data in the Excel file Airport Service Times, determine if the airline can claim that its average service time is less than 2.5 minutes.
I will provide access to the book

Categories
Data Analytics

Assignment Content Purpose This assignment provides an opportunity to develop, e

Assignment Content
Purpose This assignment provides an opportunity to develop, evaluate, and apply bivariate and multivariate linear regression models.
Resources: Microsoft Excel® DAT5/65 Week 5 Data File
Instructions: The Excel file for this assignment contains a database with information about the tax assessment value assigned to medical office buildings in a city. The following is a list of the variables in the database:FloorArea: square feet of floor space
Offices: number of offices in the building
Entrances: number of customer entrances
Age: age of the building (years)
AssessedValue: tax assessment value (thousands of dollars)
Use the data to construct a model that predicts the tax assessment value assigned to medical office buildings with specific characteristics.
Construct a scatter plot in Excel with FloorArea as the independent variable and AssessmentValue as the dependent variable. Insert the bivariate linear regression equation and r^2 in your graph. Do you observe a linear relationship between the 2 variables?
Use Excel’s Analysis ToolPak to conduct a regression analysis of FloorArea and AssessmentValue. Is FloorArea a significant predictor of AssessmentValue?
Construct a scatter plot in Excel with Age as the independent variable and AssessmentValue as the dependent variable. Insert the bivariate linear regression equation and r^2 in your graph. Do you observe a linear relationship between the 2 variables?
Use Excel’s Analysis ToolPak to conduct a regression analysis of Age and Assessment Value. Is Age a significant predictor of AssessmentValue?
Construct a multiple regression model.Use Excel’s Analysis ToolPak to conduct a regression analysis with AssessmentValue as the dependent variable and FloorArea, Offices, Entrances, and Age as independent variables. What is the overall fit r^2? What is the adjusted r^2?
Which predictors are considered significant if we work with α=0.05? Which predictors can be eliminated?
What is the final model if we only use FloorArea and Offices as predictors?
Suppose our final model is:
AssessedValue = 115.9 + 0.26 x FloorArea + 78.34 x Offices
What wouldbe the assessed value of a medical office building with a floor area of 3500 sq. ft., 2 offices, that was built 15 years ago? Is this assessed value consistent with what appears in the database?
Submit your assignment.
ResourcesCenter for Writing Excellence
Reference and Citation Generator
Grammar Assistance

Categories
Data Analytics

Select an article from the website linked below. Summarize the article focusing

Select an article from the website linked below.
Summarize the article focusing on how that firm is using data analytics to gain a competitive advantage. Are you able to find how the firm intends to do this ethically in the article? How do you feel about the ethics of gaining business insight. Please submit a 1-page, single-spaced summary and analysis.
https://partners.wsj.com/aws/data-and-analytics/

Categories
Data Analytics

Please refer to Practice problem set 3 solutions to get some guidance on this Ho

Please refer to Practice problem set 3 solutions to get some guidance on this Homework and follow the structure for your solution process.
The set of problems below are Normal distribution problems.Please solve these problems using Minitab as the analysis tool and integrate your results from Minitab into your solution for each problem (You can use the “cut & paste” feature of Minitab. (Please place the results in-line with your answer to each question, not in an appendix). Make sure you structure your answers as per in-class and practice problems solutions.For each problem (and sub-problem) present the results in a short non-statistical report.(For all Normal distribution problems, it is better to draw a picture and mark all relevant information on the picture first.This will help solving the problem right)
Please do the analysis using Minitab and follow the following general structure for presenting your solution to each of the business problems:
State the business problem in plain English
State the equivalent statistical problem that addresses the stated business problem
Identify and list all the necessary variables needed to address the stated statistical problem
List all the data available to address the statistical problem
Present the Minitab results
State the statistical conclusions (drawn from the Minitab analysis)
State your business conclusions/recommendations in a short paragraph or memo in plain English
1. A certain component for the newly developed electronic diesel engine is considered to be defective if its diameter is less than 8 mm or greater than 10.5 mm.The distributions of the diameters of these parts is known to be normal with a mean of 9.0 mm and a standard deviation of 1.5 mm.If a component is randomly selected, what is the probability that it will be defective? (Source: Unknown – 366HM?)
2. A farmer believes that the yields of his tomato plants have a normal distribution with an average yield of 10 lbs. and a standard deviation of 2 lbs.The farmer would like to identify the plants which yield the highest 5% and save them for breeding purposes.Calculate the yield which separates the highest 5% of yields from the lowest 95% of yields. (Source: Unknown – 368HM?)
3. The number of hours before a battery must be replaced in Wellbuilt watches is normally distributed with a mean of 1,900 hours and a standard deviation of 145 hours.What proportion of watch batteries fail before 1,600 hours?Suppose that during the next six months, more than 50% fail before 1,600 hours.From a problem-sensing perspective, what might you conclude?Explain (Source: Unknown – 290BS?)
4. Canine Crunchies Inc. (CCI) sells large bags of dog food to warehouse clubs.CCI uses an automatic filling process to fill bags.The weights of the filed bags are approximately normally distributed with a mean of 50 kilograms and a standard deviation of 1.25 kilograms
a. What is the probability that a filled bag will weigh less than 49.5 kilograms
b. What is the probability that a randomly sampled filled bag will weigh between 48.5 and 51 kilograms
c. What is the minimum weight a bag of dog food could be and remain in the top 15% (by weight) of all the bags filled?
(Source: GSFS-Eighth edition)
5. An Internet retailer stocks a popular electronic toy
at a central warehouse that supplies the eastern United States. Every week the retailer makes a decision
about how many units of the toy to stock.
Suppose that the weekly demand for the toy is approximately normally
distributed with a mean of 2,500 units and a standard deviation of 300 units.
a. If the retailer wants to limit the probability of
being out of stock of the electronic toy to no more than 2.5% in a week, how
many units should the central warehouse stock?
b. If the retailer has 2,750 units on hand at the start
of the week, what is the probability that weekly demand will be greater than
inventory?
c. If the standard deviation of weekly demand for the toy
increases from 300 units to 500 units, how many more toys would have to be
stocked to ensure that the probability of weekly demand exceeding inventory is
no more than 2.5%?
(Source:
GSFS-Eighth edition)
Questions?
If something is not clear, ask for clarification by emailing me (I am available to help you learn).Do not answer the wrong question (and commit a type III error) and get penalized on the grade.

Hints:
Here are some common mistakes made on this HW & some suggestions to avoid them:
Problem
Suggestion

Not specifying your answer clearly (and require the instructor to fish for the answer)
Explicitly follow the seven parts (a through g) structure to answer each question. Also, follow the structure in in-class and practice problem set solutions for your answers.

Not addressing all the requirements
Read and follow all instructions.Create a checklist for your use to insure your report meets/addresses all requirements.

Not including a graph for each problem part
Include Minitab graphs

Not separately stating your answer
State the answer to each part in mathematical terms and with a business conclusion, Follow the in-class and practice sets as examples.

Stating the answer/probability for the wrong end of the curve
It is easy to mix up the ends of graphs and have an answer that is “1 minus the correct answer.” At the end when you state your answer, make sure it makes logical sense. For example, if the mean on the test is 85 and you are asked for the score of the top 5%, an answer could be 95 – an answer of 75 (the bottom 5%) would not make sense.