Question: A sample of 33 airline passengers found

> Data obtained from a county auditor in the Excel file Home Market Value provide information about the age, square footage, and current market value of houses along one street in a particular subdivision. Considering these data as a population of homeowne

> The worksheet Base Data in the Excel file Credit Risk Data provides information about 425 bank customers who had applied for loans. The data include the purpose of the loan, checking and savings account balances, number of months as a customer of the ban

> In the Excel file Credit Risk Data, test the hypotheses that the number of months employed is the same for applicants with low credit risk as those with high credit risk evaluations. Use a level of significance of 0.01

> The weekly price at an extended-stay hotel (renting by the week for business travelers) is $950. Operating costs average $20,000 per week, regardless of the number of rooms rented. Construct a spreadsheet model to determine the profit if 40 rooms are ren

> Use the Markdown Pricing Model spreadsheet model and a two-way data table to find the total revenue if days at full retail vary from 20 to 40 in increments of 5 and the intermediate markdown varies from 15% to 50% in increments of 5%

> Problem 16 in Chapter 1 posed the following situation: The demand for airline travel is quite sensitive to price. Typically, there is an inverse relationship between demand and price; when price decreases, demand increases, and vice versa. One major airl

> Problem 15 in Chapter 1 posed the following situation: A manufacturer of mp3 players is preparing to set the price on a new model. Demand is thought to depend on the price and is represented by the modelD = 2,500 - 3PThe accounting department estimates t

> Using the matrix of intercity distances in the American Baseball League file, add list box form controls so that the user can choose two cities (using two list boxes) and find the distance between them. Ignore the model section in the worksheet

> A college is trying to determine if there is a significant difference in the mean GMAT score of students from different undergraduate backgrounds who apply to the MBA program. The Excel file GMAT Scores contain data from a sample of students. What conclu

> Create a new worksheet in the Retirement Portfolio workbook. In this worksheet, add a list box form control to allow the user to select one of the mutual funds on the original worksheet, and display a summary of the net asset value, number of shares, and

> Create a PivotTable to find the average amount of travel expenses for each sales representative in the Excel file Travel Expenses. Illustrate your results with a PivotChart

> Find the 10th and 90th percentiles and 1st, 2nd, and 3rd quartiles for the combined amounts of checking and savings accounts in the Excel file Credit Risk Data

> For the Pro Forma Income Statement model in the Excel file Net Income Models (Figure 11.7), add a scroll bar form control to allow the user to easily change the level of sales from 3,000,000 to 10,000,000 in increments of 1,000 and recalculate the spread

> A bank sampled its customers to determine the proportion of customers who use their debit card at least once each month. A sample of 50 customers found that only 12 use their debit card monthly. Find 95% and 99% confidence intervals for the proportion of

> Insert a spin button in the Moore Pharmaceuticals model to change the discount rate in cell B8 from 1% to 10% in increments of one-tenth

> Use the Excel Random Number Generation tool to generate 100 samples of the number of customers that the financial consultant in Problem 31 will have on a daily basis. What percentage will meet his target of at least 5?In Problem 31A financial consultant

> Develop a spreadsheet model for Problem 5 in Chapter 1. Apply the principles of spreadsheet engineering in developing your model. Use the spreadsheet to create a table for a range of prices to help you identify the price that results in the maximum reven

> Insert a spin button and scroll bar in the Outsourcing Decision Model to allow the user to easily change the production volume in cell B12 from 500 to 3000. Which one is easier to use? Discuss the pros and cons of each

> Apply the Data Validation tool to the President’s Inn Guest Database file with an error alert message box to ensure that dates are in the month of December and correctly entered, and that the number of guests entered is no greater than 6. Enter some fict

> The Schoch Museum is embarking on a 5-year fundraising campaign. As a nonprofit institution, the museum finds it challenging to acquire new donors as many donors do not contribute every year. Suppose that the museum has identified a pool of 8,000 potenti

> The Executive Committee of Reder Electric Vehicles is debating whether to replace its original model, the REV-Touring, with a new model, the REV-Sport, which would appeal to a younger audience. Whatever vehicle chosen will be produced for the next 4 year

> With the growth of digital photography, a young entrepreneur is considering establishing a new business, Cruz Wedding Photography. He believes that the average number of wedding bookings per year is 15. One of the key variables in developing his business

> The worksheet Purchasing Survey in the Performance Lawn Care database provides data related to predicting the level of business (Usage Level) obtained from a third-party survey of purchasing managers of customers Performance Lawn Care.8 The seven PLE att

> A popular soft drink is sold in 2-liter (2,000-milliliter) bottles. Because of variation in the filling process, bottles have a mean of 2,000 milliliters and a standard deviation of 20, normally distributed.a. If the process fills the bottle by more than

> Create a line chart for the closing prices for all years, and a stock chart for the high/low/close prices for August 2013 in the Excel file S&P 500

> Tanner Park is a small amusement park that provides a variety of rides and outdoor activities for children and teens. In a typical summer season, the number of adult and children’s tickets sold are 20,000 and 10,000, respectively. Adult ticket prices are

> Koehler Vision Associates (KVA) specializes in laser-assisted corrective eye surgery. Prospective patients make appointments for prescreening exams to determine their candidacy for the surgery: if they qualify, a $250 charge is applied as a deposit for t

> Use PivotTables to construct a cross-tabulation for marital status and housing type in the Excel file Credit Risk Data. Illustrate the results on a PivotChart

> Identify each of the variables in the Excel file Credit Approval Decisions as categorical, ordinal, interval, or ratio and explain why

> A gasoline mini-mart orders 25 copies of a monthly magazine. Depending on the cover story, demand for the magazine varies. The gasoline mini-mart purchases the magazines for $1.50 and sells them for $4.00. Any magazines left over at the end of the month

> The director of a nonprofit ballet company in a medium-sized U.S. city is planning its next fundraising campaign. In recent years, the program has found the following percentages of donors and gift levels:Develop a spreadsheet model to calculate the tota

> A stockbroker calls on potential clients from referrals. For each call, there is a 10% chance that the client will decide to invest with the firm. Fifty-five percent of those interested are found not to be qualified, based on the brokerage firm’s screeni

> Develop a spreadsheet model for gasoline usage scenario, Problem 4 in Chapter 1, using the data provided. Apply the principles of spreadsheet engineering in developing your model.Problem 4 in Chapter 1Suggest some metrics that a manager of a fast-food re

> A manager needs to identify some information from the Purchase Orders Excel file but has only the order number. Modify the Excel file to use the VLOOKUP function to find the item description and cost per order for the following order numbers: Aug11008, S

> For the Colleges and Universities data, use XLMiner to find four clusters using each of the other clustering methods (see Figure 10.13); compare the results with Example 10.6.Figure 10.13,,,

> For the four clusters identified in Example 10.6, find the average and standard deviations of each numerical variable for the schools in each cluster and compare them with the averages and standard deviations for the entire data set. Does the clustering

> For the Excel file Colleges and Universities, normalize each column of the numerical data (i.e., compute a z-score for each of the values) and then compute the Euclidean distances between the following schools: Amherst, Cal Tech, and Duke

> A sample of 20 international students attending an urban U.S. university found that the average amount budgeted for expenses per month was $1612.50 with a standard deviation of $1179.64. Find a 95% confidence interval for the mean monthly expense budget

> In the Excel file Restaurant Sales, determine if the variance of weekday sales is the same as that of weekend sales for each of the three variables (lunch, dinner, and delivery)

> Compute the Euclidean distance between the following sets of points:a. (2,5) and (8,4)b. (2, -1, 3) and (8, 15, -5)

> Construct a variable plot for all the variables in the Excel file Banking Data

> Classify each of the data elements in the Sales Transactions database (Figure 1.1) as categorical, ordinal, interval, or ratio data and explain why

> Construct a scatterplot matrix for Median Income, Median Home Value, Median Household Wealth, and Average Bank Balance in the Excel file Banking Data. What conclusions can you reach?

> Use PivotTables to construct a cross-tabulation for the purpose of the loan and credit risk in the Excel file Credit Risk Data. Illustrate the results on a PivotChart

> In the Excel file Banking Data, apply the following data visualization tools:a. Use data bars to visualize the relative values of Median Home Value.b. Use color scales to visualize the relative values of Median Household Wealth.c. Use an icon set to show

> Construct a parallel coordinates chart for Median Income, Median Home Value, Median Household Wealth, and Average Bank Balance in the Excel file Banking Data. What conclusions can you reach?

> The Excel file Myatt Steak House provides 5 years of data on key business results for a restaurant. Identify the leading and lagging measures, find the correlation matrix, and propose a cause-and-effect model using the strongest correlations

> The Excel file Automobile Options provides data on options ordered together for a particular model of automobile. Develop a market basket analysis using the XLMiner association rules procedure with the input parameters support = 6 and confidence = 80

> Use the Excel file Banking Data.a. Construct a boxplot for the Median Income, Median Home Value, Median Household Wealth, and Average Bank Balance.b. What observations can you make about these data?

> For the PC Purchase Data, identify association rules with the following input parameters for the XLMiner association rules procedure:a. Support = 3; confidence = 90,b. Support = 7; confidence = 90,c. Support = 3; confidence = 70,d. Support = 7; confidenc

> The Excel file Credit Risk Data provides a database of information about loan applications, along with a classification of credit risk in column L. Convert the categorical data into numerical codes as appropriate. Then apply logistic regression to classi

> Using the data in the Excel file Student Grades, which represent exam scores in one section of a large statistics course, test the hypothesis that the variance in grades is the same for both tests

> The Excel file Credit Risk Data provides a database of information about loan applications along with a classification of credit risk in column L. Convert the categorical data into numerical codes as appropriate. Sample 200 records from the data set. The

> Suggest some metrics that a manager of a fast-food restaurant, such as McDonald’s or Chipotle, might want to collect. Describe how the manager might use the data to facilitate better decisions

> Fruity Juices, Inc., produces five different flavors of fruit juice: apple, cherry, pomegranate, orange, and pineapple. Each batch of product requires processing in three departments (blending, straining, and bottling). The relevant data (per 1,000-gallo

> The Excel file Credit Risk Data provides a database of information about loan applications along with a classification of credit risk in column L. Convert the categorical data into numerical codes as appropriate. Sample 200 records from the data set. The

> Use logistic regression to classify the new data in the Excel file Credit Approval Decisions Coded using only credit score and years of credit history as input variables

> Use discriminant analysis to classify the new data in the Excel file Credit Approval Decisions Coded using only credit score and years of credit history as input variables

> Construct cross-tabulations of Gender versus Carrier and Type versus Usage in the Excel file Cell Phone Survey. What might you conclude from this analysis?

> Figure 13.33 shows the Solver sensitivity report for the ColPal Products scenario in Problem 2. Using only the information in the sensitivity report, answer the following questions.Figure 13.33Sensitivity Report for ColPal Productsa. Suppose that the exp

> The background for this case was introduced in Chapter 1. This is a continuation of the case in Chapter 4. For this part of the case, compute confidence intervals for means and proportions, and analyze the sampling errors, possibly suggesting larger samp

> Figure 13.32 shows the Solver sensitivity report for Valencia Products in Problem 1. Using only the information in the sensitivity report, answer the following questions.Figure 13.32Sensitivity Report for Valencia Productsa. Explain why the reduced cost

> Figure 13.31 shows the sensitivity report after solving the Crebo Manufacturing model (Example 13.12) using Solver. Using only the information in the sensitivity report, answer the following questions.Figure 13.31Sensitivity Report for Crebo Manufacturin

> For the investment situation in Problem 4, apply the same logic as we did for the Crebo Manufacturing model in the text to find the optimal solution. Compare your answer with the Solver solution.In Problem 4A business student has $2,500 available from a

> For ColPal Products in Problem 2, modify the data in the model to create a problem with each of the followinga. Alternative optimal solutionsb. An unbounded solutionc. InfeasibilityIn Problem 2A brand manager for ColPal Products must determine how much t

> The Hansel Corporation, located in Bangalore, India, makes plastics materials that are mixed with various additives and reinforcing materials before being melted, extruded, and cut into small pellets for sale to other manufacturers. Four grades of plasti

> For Valencia Products in Problem 1, modify the data in the model to create a problem with each of the following.a. Alternative optimal solutionsb. An unbounded solutionc. InfeasibilityIn Problem 1Valencia Products makes automobile radar detectors and ass

> For the Burger Office Equipment model in Problem 3, graph the constraints and identify the feasible region. Then identify each of the corner points and show how increasing the objective function value identifies the optimal solution.In Problem 3Burger Of

> Apply three different colors of data bars to lunch, dinner, and delivery sales in the Excel file Restaurant Sales to visualize the relative amounts of sales. Then sort the data (hint: use a custom sort) by the day of the week beginning on Sunday. Compare

> Use the k-NN algorithm to classify the new data in the Excel file Credit Approval Decisions Coded using only credit score and years of credit history as input variables

> The Excel file Store and Regional Sales Database provides sales data for computers and peripherals showing the store identification number, sales region, item number, item description, unit price, units sold, and month when the sales were made during the

> For ColPal model in Problem 2, graph the constraints and identify the feasible region. Then identify each of the corner points and show how increasing the objective function value identifies the optimal solution.In Problem 2A brand manager for ColPal Pro

> Use Analytic Solver Platform to simulate the Outsourcing Decision Model under the assumptions that the production volume will be triangular with a minimum of 800, maximum of 1,700, and most likely value of 1,400, and that the unit supplier cost is normal

> The State of Ohio Department of Education has a mandated ninth-grade proficiency test that covers writing, reading, mathematics, citizenship (social studies), and science. The Excel file Ohio Education Performance provides data on success rates (defined

> Consider the data in the Excel file Nuclear Power. Use simple linear regression to forecast the data. What would be the forecasts for the next 3 years?

> Consider the data in the Excel file Consumer Price Index.a. Use simple linear regression to forecast the data. What would be the forecasts for the next 2 years?b. Use the double exponential smoothing procedure in XLMiner to find forecasts for the next 2

> Sandford Tile Company makes ceramic and porcelain tile for residential and commercial use. They produce three different grades of tile (for walls, residential flooring, and commercial flooring), each of which requires different amounts of materials and p

> Consider the prices for the DJ Industrials in the Excel file Closing Stock Prices. The data appear to have a linear trend over the time period provided.a. Use simple linear regression to forecast the data. What would be the forecasts for the next 3 days?

> For the data in the Excel file Gasoline Prices do the following:a. Develop spreadsheet models for forecasting prices using simple moving average and simple exponential smoothing.b. Compare your results to the outputs from Excel’s Data Analysis tools.c. U

> The Excel file Closing Stock Prices provides data for four stocks and the Dow Jones Industrials Index over a 1-month period.a. Develop spreadsheet models for forecasting each of the stock prices using simple 2-period moving average and simple exponential

> The Excel file Unemployment Rates provides data on monthly rates for 4 years. Compare 3- and 12-month moving average forecasts using the MAD criterion. Explain why the 3-month model yields better results

> The Excel file Energy Production & Consumption provides data on production, imports, exports, and consumption. Develop line charts for each variable and identify key characteristics of the time series (e. g., trends or cycles). Are any of these time seri

> Cluster the records in the Excel file Ten Year Survey. Create up to five clusters and analyze the results to draw conclusions about the survey

> Data in the Excel File Microprocessor Data shows the demand for one type of chip used in industrial equipment from a small manufacturer.a. Construct a chart of the data. What appears to happen when a new chip is introduced?b. Develop a causal regression

> For the data in the Excel file New Account Processing, perform chi-square tests for independence to determine if certification is independent of gender, and if certification is independent of having prior industry background

> Choose an appropriate forecasting technique for the data in the Excel file Treasury Yield Rates and find the best forecasting model. Explain how you would use the model to forecast and how far into the future it would be appropriate to forecast

> Use Excel’s filtering capability to(1) Extract all orders for control panels,(2) All orders for quantities of less than 500 units, and(3) All orders for control panels with quantities of less than 500 units in the Purchase Orders database

> Shafer Office Supplies has four distribution centers, located in Atlanta, Lexington, Milwaukee, and Salt Lake City, and ships to 12 retail stores, located in Seattle, San Francisco, Las Vegas, Tuscon, Denver, Charlotte, Minneapolis, Fayetteville, Birming

> Using the data in the Excel file Computer Repair Times, determine if the company can claim that its average repair time is less than 15 days

> Choose an appropriate forecasting technique for the data in the Excel file Prime Rate and find the best forecasting model. Explain how you would use the model to forecast and how far into the future it would be appropriate to forecast

> Choose an appropriate forecasting technique for the data in the Excel file Mortgage Rates and find the best forecasting model. Explain how you would use the model to forecast and how far into the future it would be appropriate to forecast

> Search the Conference Board’s Web site to find economic forecasts and reports about their business cycle indicators. Write a short report about your findings

> Choose an appropriate forecasting technique for the data in the Excel file Federal Funds Rates and find the best forecasting model. Explain how you would use the model to forecast and how far into the future it would be appropriate to forecast

> Choose an appropriate forecasting technique for the data in the Excel file DJIA December Close and find the best forecasting model. Explain how you would use the model to forecast and how far into the future it would be appropriate to forecast

> Choose an appropriate forecasting technique for the data in the Excel file Coal Consumption and find the best forecasting model. Explain how you would use the model to forecast and how far into the future it would be appropriate to forecast

> Apply cluster analysis to the Excel file Sales Data, using the input variables Percent Gross Profit, Industry Code, and Competitive Rating. Create four clusters and draw conclusions about the groupings

> Financial analysts often use the following model to characterize changes in stock prices:Pt = P0e(µ-0.5σ2)t+σZ√tWhereP0 = current stock pricePt = price at time tµ = mean (logarithmic) change of the stock price per unit timeσ = (logarithmic) standard devi

> The Excel file Olympic Track and Field Data provides the gold medal-winning distances for the high jump, discus, and long jump for the modern Olympic Games. Develop forecasting models for each of the events. What do your models predict for the next Olymp

> Construct an appropriate chart to show the proportion of funds in each investment category in the Excel file Retirement Portfolio

> The Excel file CD Interest Rates provides annual average interest rates on 6-month certificate of deposits. Compare the Holt-Winters additive and multiplicative models using XLMiner with the default parameters and a season of 6 years. Why does the multip