Module One Discussion Data

/in /by

In real-life applications, statistics helps us analyze data to extract information about a population. In this module discussion, you will take on the role of Susan, a high school principal. She is planning on having a large movie night for the high school. She has received a lot of feedback on which movie to show and sees differences in movie preferences by gender and also by grade level.

She knows if the wrong movie is shown, it could reduce event turnout by 50%. She would like to maximize the number of students who attend and would like to select a PG-rated movie based on the overall student population’s movie preferences. Each student is assigned a classroom with other students in their grade. She has a spreadsheet that lists the names of each student, their classroom, and their grade. Susan knows a simple random sample would provide a good representation of the population of students at their high school, but wonders if a different method would be better.

You can review the student demographics here: Module One Discussion Data PDF. – Attached to the assignment in a screenshot

In your initial discussion post, specifically, address the following:

  • Introduce yourself and describe a time when you used data in a personal or professional decision. This could be anything from analyzing sales data on the job to making an informed purchasing decision about a home or car.
  • Describe to Susan how to take a sample of the student population that would not represent the population well.
  • Describe to Susan how to take a sample of the student population that would represent the population well.
  • Finally, describe the relationship of a sample to a population and classify your two samples as random, systematic, cluster, stratified, or convenience.

Must be 1 to 2 paragraphs

If you conclude that the customer’s claim of download speed less than or equal to twelve (12) Mbps cannot be rejected, speculate on three

/in /by

a. If you conclude that the customer’s claim of download speed less than or equal to twelve (12) Mbps cannot be rejected, speculate on three (3) possible causes for the slowed speed. Next, suggest strategies to avoid the deficit in the future.

What types of graphs have you produced or used in your current work environment or in other courses?

/in /by

What types of graphs have you produced or used in your current work environment or in other courses? Why is it so important to know how to create graphical depictions of your data? Search the Internet for an example of a specific statistical report that you have found that could be misinterpreted and explain why it could be misinterpreted.

Please cite where you retrieved your example from.

Review the initial postings from at least two of your classmates.  Provide relevant comments or critique.

/in /by

Review the initial postings from at least two of your classmates.  Provide relevant comments or critique.  Do you agree with their conclusions?  Provide assistance if a student is struggling.  Please make sure to post a complete response of about a paragraph in length.

Smart businesses in all industries use data to provide an intuitive analysis of how they can get a competitive advantage.

/in /by

Scenario

Smart businesses in all industries use data to provide an intuitive analysis of how they can get a competitive advantage. The real estate industry heavily uses linear regression to estimate home prices, as cost of housing is currently the largest expense for most families. Additionally, in order to help new homeowners and home sellers with important decisions, real estate professionals need to go beyond showing property inventory. They need to be well versed in the relationship between price, square footage, build year, location, and so many other factors that can help predict the business environment and provide the best advice to their clients.

Prompt

You have been recently hired as a junior analyst by D.M. Pan Real Estate Company. The sales team has tasked you with preparing a report that examines the relationship between the selling price of properties and their size in square feet. You have been provided with a Real Estate Data Spreadsheet (included in attachment) spreadsheet that includes properties sold nationwide in recent years. The team has asked you to select a region, complete an initial analysis, and provide the report to the team.

Note: In the report you prepare for the sales team, the response variable (y) should be the listing price and the predictor variable (x) should be the square feet.

Specifically you must address the following rubric criteria, using the Module Two Assignment Template Word Document (included in attachment, MUST USE TO COMPLETE ASSIGNMENT):

  • Generate a Representative Sample of the Data
    • Select a region and generate a simple random sample of 30 from the data.
    •  Report the mean, median, and standard deviation of the listing price and the square foot variables.
  • Analyze Your Sample
    • Discuss how the regional sample created is or is not reflective of the national market.
    • Explain how you have made sure that the sample is random.
      • Explain your methods to get a truly random sample.
  • Generate Scatterplot
    • Create a scatterplot of the x and y variables noted above and include a trend line and the regression equation
  • Observe patterns
    • Answer the following questions based on the scatterplot:
      • Define x and y. Which variable is useful for making predictions?
      • Is there an association between x and y? Describe the association you see in the scatter plot.
      • What do you see as the shape (linear or nonlinear)?
      • If you had a 1,800 square foot house, based on the regression equation in the graph, what price would you choose to list at?
      • Do you see any potential outliers in the scatterplot?
        • Why do you think the outliers appeared in the scatterplot you generated?
        • What do they represent?

You can use the following tutorial that is specifically about this assignment. Make sure to check the assignment prompt for specific numbers used for national statistics and/or square footage. The video may use different national statistics or solve for different square footage values.

LINK FOR STATISITCS AND GRAPHS:

https://learn.snhu.edu/content/enforced/1261476-MAT-240-J4761-OL-TRAD-UG.23EW4/course_documents/National%20Summary%20Statistics%20and%20Graphs%20Real%20Estate%20Data.pdf?_&d2lSessionVal=AhM4DCGqMI0sPcT1f2n3ULfJM&ou=1261476

GENERAL LOGISTICS:

/in /by

Think about a domain are very interested in and/or experienced in and then think about

aspects of it that are economic – issues of cost and profit, asset allocation, supply and

demand, production scheduling, inventory management, transportation, entrepreneurial

strategy, etc. W.

 

GENERAL LOGISTICS:

1. Save data, model, and analysis in an Excel file. Use label and sheet names to organize

your Excel file.2 clearly. Write a report in a Word file using font Arial size 10(or similar if not

available in your system)and double line spacing.3. Paste any relevant table and chart in

your report including labels and references in the text.4.

You should plan to write a brief report (3-5 pages) that has the following sections:

Introduction – describe the problem that trying to solve (e.g., What/when should I buy and

sell shares in Stock X based on historical data? When should inventory be put on sale?),

with some description of the topic domain (e.g., venture capitalism, clothing retail,

restaurant management). The problem should be rich enough to require a spreadsheet

simulation or optimization.

Analytic Strategy – verbally describe the model/s of the problem, but also include an

influence diagram and mathematical model, the assumptions your model/s make/s about

the problem, and the variables that are involved; also describe what data will be used and

how to acquire it.

Findings and Implications – provide a visual model of the data and/or the model

output/analytic results and a verbal explanation for what it means to a decision-maker faced

with the problem analyzed.

References – provide verifiable citations for any published studies or documents that

informed your project and any external data set/s that were used to complete it.

 

 

Order a Similar Paper

We want the vaccine within 8 weeks.  Is that likely to happen?

/in /by

We want the vaccine within 8 weeks.  Is that likely to happen?

Group of answer choices

 

yes

 

no

 

Flag question: Question 2

Question 25 pts

If someone asks you, what is the most likely number of batches it will take to produce enough of the vaccine, what would you tell them?

Group of answer choices

 

9

 

10

 

11

 

12

 

13

 

Flag question: Question 3

Question 315 pts

Upload your completed  Drug Production workbook here. This is where i can assign some credit for your simulation even if you did not get all of the quiz questions correct.

Upload

Choose a File

 

Flag question: Spacer

Download the attached file and complete the model and simulation as stated in the file.

Answer the questions according to your completed model.

 

Flag question: Question 4

Question 43 pts

Which of the following is an uncertainty (random variable) in this model?

Group of answer choices

 

Production Cost

 

Coffee Shop Demand

 

Baking Quantity (in Batches)

 

Cost of Lost Profit

 

Flag question: Question 5

Question 53 pts

Which of the following is the decision variable in this model?

Group of answer choices

 

Coffee Shop Demand

 

Farmer’s Market Demand

 

Baking Quantity (in Batches)

 

There is no decision variable in this model

 

Flag question: Question 6

Question 63 pts

When does the Cost of Lost profits occur?

Group of answer choices

 

When the number of tarts produced exceeds the farmers market demand.

 

When the number of tarts produced exceeds the coffee shop demand.

 

When the number of tarts produced is less than the coffee shop demand.

 

When the number of tarts produced is less than the farmer’s market demand.

 

Flag question: Spacer

For the following 3 questions, make a copy of the worksheet on which you built your model. You will need to modify inputs to your model to test your calculations. Making a copy of your completed model will keep you from having to redo your work.

 

Flag question: Question 7

Question 75 pts

This question will require you to alter your model to test your calculations.

Set the  Batches Produced to 70, set  Farmers Market Demand at 1200, and set the  Coffee Shop Demand to 100.

What is the  cost of lost profits with these settings?

 

 

Flag question: Question 8

Question 85 pts

This question will require you to alter your model to test your calculations.

Set the  Batches Produced to 70, set  Farmers Market Demand at 1200, and set the  Coffee Shop Demand to 100.

What is the  Total Profit with these settings?

 

 

Flag question: Question 9

Question 95 pts

This question will require you to alter your model to test your calculations.

Set the  Batches Produced to 110, set  Farmers Market Demand at 1200, and set the  Coffee Shop Demand to 100.

What is the  Total Profit with these settings?

 

 

Flag question: Question 10

Question 1022 pts

Be sure that all random variables are restored to their original functions. (Pressing F9 should generate new results for all random variables in your model and data table.) Upload your completed model here.

Upload

Choose a File

 

Flag question: Spacer

Download the attached file and complete the model and simulation as stated in the file.

Answer the questions according to your completed model.

 

Flag question: Question 11

Question 112 pts

If you were to normalize the standard deviation (calculate the coefficient of variation) for the simulation results for each capacity level you were considering (300,000, 400,000, 500,000, 600,000, 700,000), which capacity level comes with the relative best average profit, and lowest standard deviation?

For this question, look at your average profit and a couple of the averages should stand out as the best options.  Now, calculate the coefficient of variation, to determine which one has the lowest relative risk.

Group of answer choices

 

300,000

 

400,000

 

500,000

 

600,000

 

Flag question: Question 12

Question 122 pts

Let’s say the company decides they are looking for the capacity level that gives them the best chance to make $3.5 Billion dollars.  Which of the capacity levels gives the highest likelihood of making $3.5 Billion for profit?

Group of answer choices

 

400,000

 

500,000

 

600,000

 

700,000

 

Flag question: Spacer

For the following 2 questions, make a copy of the worksheet on which you built your model. You will need to modify inputs to your model to test your calculations. Making a copy of your completed model will keep you from having to redo your work.

 

Question 135 pts

This question will require you to alter your model to test your calculations.

Set the  Demand to 500,000 for each of the 5 years.

What is the  Average Profit for the capacity level of 600,000 with these settings?

 

 

Flag question: Question 14

Question 145 pts

This question will require you to alter your model to test your calculations.

Set the  Demand to 400,000 for each of the 5 years.

Which of the Capacity levels you are considering, shows a negative  Average Profit?

Group of answer choices

 

400000

 

500000

 

600000

 

700000

 

Flag question: Question 15

Question 1515 pts

Be sure that all random variables are restored to their original functions. (Pressing F9 should generate new results for all random variables in your model and data table.) Upload your completed model here.

 

Order a Similar Paper