EBK BUSINESS ANALYTICS
3rd Edition
ISBN: 9780135231906
Author: Evans
Publisher: VST
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Chapter 1, Problem 11PE
In this chapter, we noted the importance of defining and analyzing a problem prior to attempting to find a solution. Consider this example: One of the earliest operations research groups during World War II was conducting a study on the optimum utilization of Spitfire and Hurricane aircraft during the Battle of Britain. Whenever one of these planes returned from battle, the locations of the bullet holes on it were carefully plotted. By repeatedly recording these data over time, and studying the clusters of data, the group was able to estimate the regions of the aircraft most likely to be hit by enemy gunfire, with the objective of reinforcing these regions with special armor. What difficulties do you see here?
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Munira leads the marketing research division at al-Hayat Inc., a manufacturing company based in Muscat. To improve
future sales of the company's products, she has decided to collect customer opinions and feedback on the current
products offered by her company. For this purpose, Munira is looking for a highly flexible contact method that can be
used to gather large amounts of data within the least possible time. In this instance, which of the following contact
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Chart and Regression analysis :
What does the intercept predict?
X: C16 (number of cars on the sales lot) versus Y: C17 (cars sold per day)
Equation: y=2.9x + 14.5
Slope:2.9
Intercept:14.5
Does the intercept mean the intercept is 14.5 means that the cars sold per day( Y) predicted number of cars on sale lot(X) to be 14.5, but this intercept has no meaning. So, I will not use to predict cars sold per day?
Chapter 1 Solutions
EBK BUSINESS ANALYTICS
Ch. 1 - Discuss how you might use business analytics in...Ch. 1 - How might analytics be used in the following...Ch. 1 - A supermarket has been experiencing long lines...Ch. 1 - For each of the following scenarios, state whether...Ch. 1 - Suppose that a manufacturer can produce a part for...Ch. 1 - A bank developed a model for predicting the...Ch. 1 - Four key marketing decision options are price P,...Ch. 1 - Total marketing effort is a term used to describe...Ch. 1 - A manufacturer of headphones is preparing to set...Ch. 1 - In this chapter, we noted the importance of...
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