EBK BUSINESS ANALYTICS
3rd Edition
ISBN: 9780135231906
Author: Evans
Publisher: VST
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Question
Chapter 1, Problem 12PE
To determine
To solve one of the puzzle from the website given in the question and work through the problem solving process.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Please read the case and answer the following questions.
CompStat (short for COMPuter STATistics or COMParative STATistics) originated in the New York City Police Department (NYPD) in 1994 when William Bratton was police commissioner. CompStat is a comprehensive, city-wide database that records all reported crimes or complaints, arrests, and summonses issued in each of the city’s 76 precincts. City officials had previously believed that crime could not be prevented by better information and analytical tools but instead by using more foot patrols in neighborhoods along with the concept of “community policing” in which efforts were made to strengthen the involvement of community groups. In contrast, Bratton and Rudy Giuliani, then the mayor of New York City, believed that. police could be more effective in reducing crime if operational decisions took place at the precinct level and if decision makers had better information. Precinct commanders were in a better position than police…
Hide Assignment Information
Instructions
Exercise #5
For this week exercise, we need to try a few logit models (see this link for more information: LOGIT REGRESSION)
If you have chosen to work with Excel, please run above three models and complete the following tables.
Model 1: Run a regression model and use being a member of network and find out its impact on hospital cost? (Model 1) Model 2: For the 2nd model run a regression model and use being a member of network and find out its impact on hospital cost and hospital revenue? (Model 2) Model 3: For the 3rd model run a regression model and use being a member of network and find out its impact on ratio-Medicare-discharge and ratio-Medicaid-discharge.
Based on your finding please recommend 3 policies and discuss the impact of being on a network on hospital cost, hospital revenue and out its impact on ratio-Medicare-discharge and ratio-Medicaid-discharge. Do you recommend keeping membership for a hospital? Why or why not?
Ahmed's interest was cricket. When he finished university, he wanted to work in a management job. He wanted to do his research project on some aspect of general management and social sciences, preferably for a sports goods manufacturer but had no research idea. He asked five friends, all taking business education degrees, to help him brainstorm the problem. You are requested to use the following problem-solving techniques to generate and refine the research idea in this business scenario. a) The technique of Brainstormingb) The Delphi technique
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...
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.Similar questions
- Determine the type of business analytics for the following scenarios. A. Imagine you are a meteorologist. You have to foretell the weather for the next two weeks by analysing the data from the satellites. Here, you have to apply advanced statistical, information software, or operations research methods to identify predictive variables and build predictive models. Discuss in detail which type of business analytics will be suitable for this scenario.arrow_forwardDiscuss, with reasons, whether they fall into the category of applied orbasic research. Scenario 3 Effects of service recovery on customer satisfaction A research scientist wants to investigate the question: What is the mosteffective way for an organization to recover from a service failure? Herobjective is to provide guidelines for establishing the proper "fit" betweenservice failure and service recovery that will generalize across a variety ofservice industries.arrow_forwardThe following estimated regression equation is based on 30 observations. The values of SST and SSR are 1,804 and 1,761, respectively. a. Compute R² (to 3 decimals). b. Compute R (to 3 decimals). y= 18.5 +3.9x1 c. Comment on the goodness of fit. The estimated regression equation - Select your answer - - 2x2 +7.6x3 + 2.5x4arrow_forward
- docs.google.com a In this section, there are 25 questions/statements. Each question/statement is followed by four alternatives out of which only one is correct. Select the correct answer (Score: 60 Marks). George is the eldest in his 3 points family. He proved to be a responsible man since he was eighteen. During his higher education, George started a part time job to cover his tuition fees. Mrs. Rose -His manger- describes him as a thoughtful young man, reserved, timid and quiet. George is more likely to be described as: * An Introvert person An Extravert person A Consistent person An Emotionally stable person In the present context, 2 points challenges of OB are? * Multiculturismarrow_forward1. Problem: If a car driven 50,000 miles, how much would be the maintenance cost? 2. Use Linear Regression equation to find the maintenance cost. Show step by step calculations. 3. Also, calculate r^2 for the above model. Show step by step calculations.arrow_forwardAnswer the following scenarios by providing the applicable analysis type and benefits: a. The Marketing Department is planning a "direct mailing" campaign. To minimize the cost of the campaign it should determine which customers are most likely to respond to the offer. b. The Sales Department, in order to increase sales, has to decide which combination of products should be recommended to a particular customer. c. The Marketing Department is to prepare or modify the products and services offer so that it optimally matches the needs of different customers. d. The CRM Department is to determine the profile of clients who intend to resign from our services, and then take actions to keep themarrow_forward
- . Think of a broad problem area. Select a research paper related to the broad problem area. Define the problem statement on the basis of research paper by clearly highlighting the variables.arrow_forwardDecision making using analytics is viewed as Question 5 options: descriptive (use of data to summarize the present situation). All of these choices are correct. prescriptive (use of mathematical models to optimize decisions). predictive (use of data to predict what is likely to happen).arrow_forwardInterpret the coefficients of your regression model. Specifically, what does the fixed component of the model mean to the consulting firm? Interpret the fixed term, b 0b0, if appropriate. Choose the correct answer below. A. It is not appropriate to interpret b 0b0, because its value is the predicted billable hours for overhead costs of 0 dollars, but the firm cannot have overhead costs of 0 dollars associated with a client. B. The value of b 0b0 is the predicted overhead costs for 0 billable hours. C. It is not appropriate to interpret b 0b0, because its value is the predicted overhead costs for 0 billable hours, but someone with 0 billable hours would not actually be a client of the firm. D. For each increase of 1 unit in billable hours, the predicted overhead costs are estimated to increase by b 0b0. E. The value of b 0b0 is the predicted billable hours for an overhead cost of 0 dollars. F. For each increase of 1 unit in…arrow_forward
- In the original OJ Simpson trial, it was accepted that OJ had battered his wife. OJ’s lawyer tried to negate the impact of this information by stating that in a one-year period, only 1 out of 2500 battered women are murdered, so the fact that OJ battered his wife does not give much evidence that he was the murderer. The prosecution (foolishly!) let this go unchallenged. Here are the relevant statistics: In a typical year 6.25 million women are battered, 2500 are battered and murdered, and 2250 of the women who were battered and murdered were killed by the batterer. How should the prosecution have refuted the defense’s argument?arrow_forwardSales over the past 10 years are shown below. Using the method of least squares, calculate the values of a and b to complete this regression equation. Year Sales 1 1,640 2 1,850 3 1,240 4 1,250 5 1,980 6 1,400 7 1,060 8 1,430 9 1,050 10 1,990 (Indicate a negative answer using a "-" sign. Do not round intermediate calculations and round your answer to 3 decimal places.) What is your forecast for next year's sales? (Do not round intermediate calculations and round your answer to 2 decimal places.)arrow_forwardDevelop a spreadsheet for the question. The vice president of finance has looked at your ooriginal scoring model and feels that tax considerations should be included in teh model with a weight of 15. In addition, the VP has scored the methods on tax considerations as follows: method A recieved a score of 3, method B recieved a score of 2, and Method C recieved a score of 1. How would this additional information affect your recommendation?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
BUSN 11 Introduction to Business Student EditionBusinessISBN:9781337407137Author:KellyPublisher:Cengage Learning
Essentials of Business Communication (MindTap Cou...BusinessISBN:9781337386494Author:Mary Ellen Guffey, Dana LoewyPublisher:Cengage Learning
Accounting Information Systems (14th Edition)BusinessISBN:9780134474021Author:Marshall B. Romney, Paul J. SteinbartPublisher:PEARSON
International Business: Competing in the Global M...BusinessISBN:9781259929441Author:Charles W. L. Hill Dr, G. Tomas M. HultPublisher:McGraw-Hill Education
BUSN 11 Introduction to Business Student Edition
Business
ISBN:9781337407137
Author:Kelly
Publisher:Cengage Learning
Essentials of Business Communication (MindTap Cou...
Business
ISBN:9781337386494
Author:Mary Ellen Guffey, Dana Loewy
Publisher:Cengage Learning
Accounting Information Systems (14th Edition)
Business
ISBN:9780134474021
Author:Marshall B. Romney, Paul J. Steinbart
Publisher:PEARSON
International Business: Competing in the Global M...
Business
ISBN:9781259929441
Author:Charles W. L. Hill Dr, G. Tomas M. Hult
Publisher:McGraw-Hill Education
Points, Lines, Planes, Segments, & Rays - Collinear vs Coplanar Points - Geometry; Author: The Organic Chemistry Tutor;https://www.youtube.com/watch?v=dDWjhRfBsKM;License: Standard YouTube License, CC-BY
Naming Points, Lines, and Planes; Author: Florida PASS Program;https://www.youtube.com/watch?v=F-LxiLSSaLg;License: Standard YouTube License, CC-BY