Data analytics
There is a question and solution file have attached. Please review the question and answer them in the attached excel file. There is a tab in the excel file for the solution of each question.
>Q# -Pg -P02_06.xlsx
orker
= blue-collar worker
= prefers to drink light beer = prefers to drink regular beer = prefers not to drink beer
W L B R B L B L B L B L B L W L B L W R B R B L W R B R W L B R W R B L B L B R B R B N W L B R W L W R B R B N B L B L W L B R W R B R B L B R B L W L B L W N W N W L B R B R B L W L B N B R W L B R W R W R B R W L B L W R B R B L W R B R B R W R W L B R W R B L B L W L B R W R B L W L B R B L W L B R B L B L B L B R W R W L W L B L B L W L B R W R B L B R W N W L B L W L B R W R B N B L B R B L W L B R B R B L B L B R B L W R W R B R B L W L B R B L B L B L W R W R B R W L B R B L B L W R W L W L B L B L W L B R B L B R B L B L W L W L B L B L B R W R W L B L B R B N B L B N B L W L B R W R W N W L B L B L B R B L B L B R B R W R B R W L B R B R B L W L B L B L W L W R B L B N W L B L W L W N B L W R B L W R B L B R B R B R W L W R W L W L B R B L B R W R B R B L B L W R B N W R B L B L B N W R B L B R B L B R B L B R W R W R W R W L W R B R W R B L W L W L B R W N B L W R W L B L B R B N W R W L B R W L B L B L B R B R W R W R W R W L B L W R W L B R B R B L W R W L B N B R W L B L B R B L W L B R B R B L B L B R B R W N W R B L B L B R B L B L B L B R B R B R B R W R B N W L B N B L W R B R B R B R W L B L W L W R W L W L B R B N B R B R B R B L B R B R W N B R W L B R B L B R B R B R W N B N W L B R B R B L B R B L B R B R W L W L B R B R B R B R B R B L B R W N B L W L B R W L W L B L B L B R W L W L B R B L B R W L B R B R W R W R B R W R W R W L B L W L B R W L B L W R W R B L B R W R B R W L B L B L B R W L B L B R W R B R B L B L W R W L W R B L W L B L B L W L B R B N W N B N B L W L W R B R W L B L B L W L B R W L W L B L W R W L B R B R B R
Question # 6, Page 194, Use data P05_06.xlsx
6. A local beer producer sells two types of beer, a regular brand and a light brand with 30% fewer calories. The company’s marketing department wants to verify that its traditional approach of appealing to local white-collar workers with light beer commercials and appealing to local blue-collar workers with regular beer commercials is indeed a good strategy. A randomly selected group of 400 local workers are questioned about their beer-drinking preferences, and the data in the file P05_06. xlsx are obtained. a. If a blue-collar worker is chosen at random from this group, what is the probability that he/she prefers light beer (to regular beer or no beer at all)? b. If a white-collar worker is chosen at random from this group, what is the probability that he/she prefers light c. If you restrict your attention to workers who like to drink beer, what is the probability that a randomly selected blue-collar worker prefers to drink light beer? d. If you restrict your attention to workers who like to drink beer, what is the probability that a randomly selected white-collar worker prefers to drink light beer? e. Does the company’s marketing strategy appear to be appropriate? Explain why or why not.
Question # 11, Page 199, No Data Required
The National Football League playoffs are just about to begin. Because of their great record in the regular season, the Steelers get a bye in the first week of the playoffs. In the second week, they will play the winner of the game between the Ravens and the Patriots. A football expert estimates that the Ravens will beat the Patriots with probability 0.45. This same expert estimates that if the Steelers play the Ravens, the mean and standard deviation of the point spread (Steelers points minus Ravens points) will be 6.5 and 10.5, whereas if the Steelers play the Patriots, the mean and standard deviation of the point spread (Steelers points minus Patriots points) will be 3.5 and 12.5. Find the mean and standard deviation of the point spread (Steelers points minus their opponent’s points) in the Steelers game.
Question # 24, Page 214, No Data Required
24. It is widely known that many drivers on interstate highways in the United States do not observe the posted speed limit. Assume that the actual rates of speed driven by U.S. motorists are normally distributed with mean m mph and standard deviation 5 mph. Given this information, answer each of the following independent questions. (Hint: Use Goal Seek in parts a and b, and use the Solver add-in with no objective in part c. Solver is usually used to optimize, but it can also be used to solve equations with multiple unknowns.) a. If 40% of all U.S. drivers are observed traveling at 65 mph or more, what is the mean m? b. If 25% of all U.S. drivers are observed traveling at 50 mph or less, what is the mean m? c. Suppose now that the mean m and standard deviation s of this distribution are both unknown. Furthermore, it is observed that 40% of all U.S. drivers travel at less than 55 mph and 10% of all U.S. drivers travel at more than 70 mph. What must m and s be?
Question # 42, Page 226, No Data Required
Suppose you are sampling from a large population, and you ask the respondents whether they believe men should be allowed to take paid paternity leave from their jobs when they have a new child. Each person you sample is equally likely to be male or female. The population proportion of females who believe males should be granted paid paternity leave is 56%, and the population proportion of males who favor it is 48%. If you sample 200 people and count the number who believe males should be granted paternity leave, is this number binomially distributed? Explain why or why not. Would your answer change if you knew your sample was going to consist of exactly 100 males and 100 females?
Question # 46, Page 230, No Data Required
46. Suppose that the times between arrivals at a bank during the peak period of the day are exponentially distributed with a mean of 45 seconds. If you just observed an arrival, what is the probability that you will need to wait for more than a minute before observing the next arrival? What is the probability you will need to wait at least two minutes? 3/18/2020 Solved: A local beer producer sells two types of beer, a regula… | Chegg.com
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home / study / math / statistics and probability / statistics and probability solutions manuals / business analytics / 5th edition / chapter 4 / problem 8p
Business Analytics (5th Edition) Problem
A local beer producer sells two types of beer, a regular brand and a light brand with 30% fewer a. If a blue-collar worker is chosen at random from this group, what is the probability that he/she b. If a white-collar worker is chosen at random from this group, what is the probability that he/she c. If you restrict your attention to workers who like to drink beer, what is the probability that a d. If you restrict your attention to workers who like to drink beer, what is the probability that a e. Does the company’s marketing strategy appear to be appropriate? Explain why or why not.
Step-by-step solution
The data for survey of local workers with regard to beer-drinking preferences is given below.
Comment
Here ‘W’ denotes white-collar workers and ‘B’ denotes blue-collar worker in ‘Type’ column. In Comment Step 1 of 8
Step 2 of 8
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A pivot table has been created to show the counts of worker type for different drinking Comment a. From the pivot table given above the number of blue collar workers that prefer light beer is 111 Comment b. From the pivot table given above the number of white collar workers that prefer light beer is 79 Comment c. From the pivot table given above the number of blue collar workers that prefer light beer is 111 Step 3 of 8
Step 4 of 8
Step 5 of 8
Step 6 of 8
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d. From the pivot table given above the number of white collar workers that prefer light beer is 79 Comments (2)
e. The company’s marketing strategy to target blue collar workers who drink regular beer and Comment Step 7 of 8
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home / study / business / business statistics / business statistics solutions manuals / business analytics / 6th edition / chapter 4 / problem 15p
Business Analytics (6th Edition) Problem
The National Football League playoffs are just about to begin. Because of their great record in Step-by-step solution
Let ‘SR’ denotes that the Steelers point minus ravens point. For this, the Ravens need to beat Similarly, if ‘CP’ denotes the event that the Colts will play the Patriots, then:
Let and denote the mean and standard deviation of the point spread of the
event X. Then, from the information provided in the question,
Since the variance of any variable X is simply the square of its standard deviation. The For any random X, the expected value or mean value is given by,
Then,
Here, n denotes the total number of observations of X; denotes the value associated with the
random variable X and is the probability associated with event .
Let and denote the mean and standard deviation of the point spread of the Colts. Then,
Step 1 of 2
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Comment
The variance of any variable X is given by,
Here denotes the mean or expected value of X, n denotes the number of values of X and
denotes the probability of . The standard deviation of X is simply the square root of its
variance.
Therefore,
The standard deviation of C is given by,
Thus the mean and standard deviation of the point spread in the Colt’s game is 4.85 and 1.49 Comment Step 2 of 2
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home / study / math / statistics and probability / statistics and probability solutions manuals / business analytics / 5th edition / chapter 5 / problem 44p
Business Analytics (5th Edition) Problem
Suppose that the times between arrivals at a bank during the peak period of the day are Step-by-step solution
The times between arrivals at a bank during the peak period of the day are exponentially That is, per second.
Since is the rate per seconds then the rate per minutes is .
That is,
Comment
Let denotes the inter arrival time at a bank during the peak period of the day are That is, The probability that one has to wait for more than a minute before observing the next arrival is,
The required probability can be obtained by using the Excel Statistical function Therefore, the probability that one has to wait for more than a minute before observing the next Comment Step 1 of 3
Step 2 of 3
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The probability that you will need to wait at least two minutes is,
Therefore, the probability that you will need to wait at least two minutes is
Comment Step 3 of 3
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Chapter 5, Problem 78P
You have a device that uses a single battery, and See solution
Chapter 5, Problem 53P
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home / study / math / statistics and probability / statistics and probability solutions manuals / data analysis and decision making with microsoft excel, revised / 3rd edition / chapter 6 / problem 13p
Data Analysis and Decision Making with Microsoft Excel, Revised See this solution in the app
Problem
It is widely known that many drivers on interstate highways in the United States do not observe answer each of the following independent questions. (Hint: Use Goal Seek in parts a and b, and a. If 40% of all U.S. drivers are observed traveling at 65 mph or more, what is the mean
b. If 25% of all U.S. drivers are observed traveling at 50 mph or less, what is the mean
c. Suppose now that the mean and standard deviation of this distribution are both Step-by-step solution
Many drivers on Interstate highways in the United States do not observe the posted speed limit,
Comment
Let be the random variable that denotes the actual rates of speed driven by U.S. motorists. So Symbolically,
For the given distribution,
Comment a. Compute the value of mean given that of all U.S. drivers observed to be traveling at That is, determine the value of using the probability expression given as follows.
Step 1 of 28
Step 2 of 28
Step 3 of 28
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Comment Also,
This implies,
Comment Perform the probability calculation using Excel Statistical function NORMDIST which
contains parameter .Thus knowing the probability, obtain the value of parameter by using Comment First, assign any finite integer value to the mean and corresponding to that, calculate – The value for which we want to obtain the probability,
– Mean of normal population.
– Standard Deviation of normal population,
1 – Logical value that gives cumulative probability.
Comment Now choose the Excel statistical function NORMDIST from the formula bar ofExcel
worksheet and substitute the values of parameters. The function will generate some probability. Comment The steps for using Goal seek to determine the value of mean are given below
1. Go to Data, select What if analysis and choose Goal seek.
2. The dialog box for the Goal Seek will appear.
3. Set cellto the cell containing so obtained probability.
4. In the To value, input the value of the probability given that is 0.60.
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5. By changing cell that contains the assumed mean, thereby getting the required value of Comment The screen shot for Goal Seek is given below.
Comment The Excel worksheet will appear as
Comments (1)
Hence if of all U.S. drivers are observed to be traveling at mph or more then from the
above table, the value of mean speed is .
Comment b. Determine the value of mean given that of all U.S. drivers are observed to be That is, to determine the value of using the probability expression given as follows.
Now perform the probability calculation using Excel Statistical function NORMDIST
which contains parameter .Thus knowing the probability, obtain the value of parameter by Comment First, assign any finite integer value to the mean and corresponding to that, calculate – The value for which we want to obtain the probability, that is .
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– Mean of normal population. – Standard Deviation of normal population.
1 – Logical value that gives cumulative probability. Now choose the Excel statistical function NORMDIST from the formula bar of Excel
worksheet and substitute the values of parameters. The function will generate some probability. Comment 3. Set cell to the cell containing so obtained probability.
4. In the To value, input the value of the probability given that is 0.25.
5. By changing cell that contains the assumed mean, thereby getting the required value of The Excel worksheet is given below.,
Comment Step 14 of 28
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Hence if of all U.S. drivers are observed to be traveling at mph or less then, from the
above table we get the value of mean speed as .
Comment c. It is given that of all U.S. drivers travel at less than mph and of all U.S. drivers Comment To determine the value of mean and standard deviation using the probability expression And
Comment So,
This implies, contains parameters and .
The arguments of the function NORMDIST are defined below.
– The value for which we want to obtain the probability.
– Mean of normal population. Step 19 of 28
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Therefore, assign any finite integer value of your choice to the mean and standard deviation Now calculate the probabilities and each corresponding to these
assumed values of parameters, using the function NORMDIST .
Choose the Excel statistical function NORMDIST from the formula bar of Excel
worksheet and substitute the values of parameters. The function will generate some probability Comment Thus, knowing the probability, obtain the value of parameters and by using Solver add-in. Comment The dialog box for the Solver add-in will appear.
Set the cell containing probability as the target cell equal to the value of given probability, that is, standard deviation, thereby getting the required value of mean and standard deviation in Comment Similarly repeat the same steps for probability to get the actual value of parameters
corresponding to this probability.
Comment The Excel worksheet is given below.
Comment Step 24 of 28
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Hence from the above table, it is observed that for of all U.S. drivers who travel at less and for of all U.S. drivers who travel at more than mph
the values of unknown mean and standard deviation are .
Comment 0 2
Chapter 6, Problem 24P
Past experience indicates that 30% of all individuals See solution
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Problem
Suppose you are sampling from a large population, and you ask the respondents whether they Step-by-step solution
Here it is given that the sample of people is taken. Each person from a sample is equally
Comment
The proportion of females who believe that males should be granted paid paternity leave is Comment Nowwe have to obtain the total number of people out of a sample of people who believe Comment Since it is given that each person from a sample is equally likely to be male or female. This Step 1 of 13
Step 2 of 13
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Comment Now choose function CRITBINOM from the formula bar of the Excel worksheet and
substitute the values of the parameters defined as:
– Number of trials that are .
– Probability of success, that is
– Desired probability corresponding to the value of number of success, that is
Comment This implies that we have to find the value of corresponding to the probability expression Comment After computing the number of males and females, add both to get the total number of people in Comment Since a sample of people is taken therefore set the value of the cell C8 which contains total Comment The following table will be obtained; the formulae used are also defined in the table for the ease Step 5 of 13
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Comment Hence the total number of people out of a sample of people who believe males should be Comment The total number of people out of a sample of people who believe males should be granted This satisfies the physical condition for the binomial distribution. Hence the number is binomially Comment The answer would not change even if we knew our sample was going to consist of exactly Comment This implies that the number of males or females can be found from the sample with same Comment Step 10 of 13
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Continuing the previous problem, suppose that See solution
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1
9
4
W
Type
Christopher J. Zappe: W = white-collar worker
B
Preference
Christopher J. Zappe:
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Q#6-Pg194-S02_06.xlsx
Q#11-Pg199-Solution
Q#24-Pg214-Solution
Q#42-Pg226-Solution
Q#46-Pg230-Solution
beer (to regular beer or no beer at all)?
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calories. The company’s marketing department wants to verify that its traditional approach of
appealing to local whitecollar workers with light beer commercials and appealing to local blue-
collar workers with regular beer commercials is indeed a good strategy. A randomly selected
group of 400 local workers are questioned about their beer-drinking preferences, and the data in
the file P04_08.xlsx are obtained.
prefers light beer (to regular beer or no beer at all)?
prefers light beer (to regular beer or no beer at all)?
randomly selected blue-collar worker prefers to drink light beer?
randomly selected white-collar worker prefers to drink light beer?
‘Preference’ column, ‘L’ denotes those workers who prefer to drink light beer, ‘R’ denotes those
workers who prefer to drink regular beer and ‘N’ denotes those workers who prefer not to drink
beer.
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preferences of workers where the total number of workers surveyed is 400. The screenshot of
the pivot table is given below.
and the total number of blue collar workers is 250. So the probability E of a randomly chosen
blue collar worker that prefers light beer is given by,
and the total number of white collar workers is 150. So the probability F of a randomly chosen
white collar worker that prefers light beer is given by,
and the number of worker that drink beer is 371. So the probability G of a randomly chosen beer
drinking worker being a blue collar worker that prefers light beer is given by,
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and the number of worker that drink beer is 371. So the probability H of a randomly chosen beer
drinking worker being a white collar worker that prefers light beer is given by,
white collar worker who drink light beer is most appropriate, since these two type of workers
comprise the largest segment in their two respective subgroups.
demand for copier paper (in hundreds of reams)
used in a corporation’s duplicating center, as
shown in the file P04_27.xlsx. a. Use simulation to
generate 500 values of this random…
decided to undertake a campaign in an effort to
attract new subscribers. Market research analysts
in this company believe that there is a 1 in 4 chance
that the increase in the number of new…
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the regular season, the Steelers get a bye in the first week of the playoffs. In the second week,
they will play the winner of the game between the Ravens and the Patriots. A football expert
estimates that the Ravens will beat the Patriots with probability 0.45. This same expert estimates
that if the Steelers play the Ravens, the mean and standard deviation of the point spread
(Steelers points minus Ravens points) will be 6.5 and 10.5, whereas if the Steelers play the
Patriots, the mean and standard deviation of the point spread (Steelers points minus Patriots
points) will be 3.5 and 12.5. Find the mean and standard deviation of the point spread (Steelers
points minus their opponent’s points) in the Steelers game.
the Patriots, whose probability has been given to be 0.45 and “SP” denotes the Steelers point
minus patriots point, thus,
associated variances in this case are,
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respectively.
you. For example, you might choose the highest
price of gas between now and the end of the year,
the highest point the Dow Jones Industrial Average
will reach between now and the end of the…
to have the largest market share for sport utility
vehicles (SUVs) in the coming quarter. A
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exponentially distributed with a mean of 45 seconds. If you just observed an arrival, what is the
probability that you will need to wait for more than a minute before observing the next arrival?
What is the probability you will need to wait at least two minutes?
distributed with the mean of .
exponentially distributed with a mean of .
.
arrival is
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you operate this device continuously, never turning
it off. Whenever a battery fails, you replace it with a
brand new one immediately. Suppose the lifetime of
a typical battery has an…
he is either successful (gets on base) or he fails
(doesn’t get on base). (This is all you need
to know about baseball for this problem!) His on-
base percentage, usually expressed as…
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(3rd Edition)
the posted speed limit. Assume that the actual rates of speed driven by U.S. motorists are
normally distributed with mean mph and standard deviation 5 mph. Given this information,
use the Solver add-in with no objective in part c. Solver is usually used to optimize, but it can
also be used to solve equations with multiple unknowns.)
unknown. Furthermore, it is observed that 40% of all U.S. drivers travel at less than 55 mph and
10% of all U.S. drivers travel at more than 70 mph. What must be?
therefore it is assumed that the actual rates of speed driven by U.S. motorists are normally
distributed with mean mph and standard deviation mph.
follows a normal distribution with mean mph and standard deviation mph.
mph or more.
and…
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Goal Seek.
using NORMDIST which takes the parameters defined as follows,
Select the cell containing so obtained probability. Now Goal seek is used to determine the value
of mean .
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mean in the same cell replacing the assumed value.
traveling at mph or less.
using Goal Seek.
using NORMDIST which takes the parameter defined as follows
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Comment
Select the cell containing the obtained probability. Now Goal seek is used to determine the value
of mean .
The steps for using Goal seek to determine the value of mean are given below
1. Go to Data, select What if analysis and choose Goal seek.
2. The dialog box for the Goal Seek will appear.
mean in the same cell replacing the assumed value.
Comment
The screen shot for Goal Seek is given below.
Comment
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travel at more than mph and corresponding to this given information, find the value of
unknown mean and unknown standard deviation .
given as follows:
Also,
Comment
Perform the probability calculation using Excel Statistical function NORMDIST which
– Standard Deviation of normal population.
1 – Logical value that gives cumulative probability.
Comment
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for both the given probabilities.
for each set of parameters.
Select the cell containing one of the two obtained probabilities and then from the tool menu
select Solver add-in.
for by changing the cell containing the assumed mean and assumed
the same cell replacing the assumed values.
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than mph the values of unknown mean and standard deviation are
entering a certain store decide to make a purchase.
Using (a) the binomial distribution and (b) the
normal approximation to the binomial, find that
probability that 10 or more of the 30…
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39p
Card) (4th Edition)
believe men should be allowed to take paid paternity leave from their jobs when they have a new
child. Each person you sample is equally likely to be male or female. The population proportion
of females who believe males should be granted paid paternity leave is 56%, and the population
proportion of males who favor it is 48%. If you sample 200 people and count the number who
believe males should be granted paternity leave, is this number binomially distributed? Explain
why or why not. Would your answer change if you knew your sample was going to consist of
exactly 100 males and 100 females?
likely to be male or female and each individual is asked to respond that whether he/she believe
males should be allowed to take paid paternity leave from their jobs or not.
and the population proportion of males who favor it is . That is, the probability that males
favor this issue is and the probability that females favor this issue is .
males should be granted paid paternity leave.
implies that the number of males or females can be found from the sample with same probability
of . Thus considering it to a binomial situation, find the number of males and number of
females using the function CRITBINOM .
and…
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. (Here is the binomial variate)
a sample. It is to be noted that it won’t be equal to the sample size, that is . Thus to make
the sample size (total number of males and females) equal to , Goal Seek has to be
applied.
number of people (total population) in a sample to by using Goal Seek from the tool menu
of Excel worksheet by changing the cell C6 which contains the number of males and cell C7
which contains the number of females.
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granted paid paternity leave is .
paid paternity leave is binomially distributed since it defines the number of successes for the
event which results in two mutually disjoint outcomes for each trial, that is, either the issue is
favored or not favored by each person from a given sample.
distributed.
males and females because it is given that each person from a sample is equally likely to
be male or female.
probability of which in turn gives the equal number of males and females, that is, out of a
sample of , we get males and females. Thus no change would be experienced in
the answer.
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when Sleaze overcharges a customer, the
distribution of the amount overcharged (expressed
as a percentage of the correct billing amount) is
normally distributed with mean 15% and standard
deviation…
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trials, where each trial has probability p of success,
but n is very large and p is very small. In this case,
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