Concept explainers
A recent survey points to tremendous revenue potential and consumer value in leveraging driver and vehicle data in the automobile industry. The 2017 KPMG Global Automotive Executive Study found that automobile executives believe data will be the fuel for future business models and that they will make money from that data (prn.to/2q9rubN). Eighty-two percent of automobile executives agree that in order to create value and consequently monetize data a car needs its own ecosystem/operating system; otherwise the valuable consumer and/or vehicle data will likely be routed through third parties and valuable revenue streams will be lost. What additional information would you want to know about the survey before you accepted the results of the study?
Want to see the full answer?
Check out a sample textbook solutionChapter 1 Solutions
BASIC BUSINESS STATISTICS-STUD.SOLN.MAN
- To what extent do data and information have an impact on one another?arrow_forwardA mail-order catalog business that sells personal computer supplies, software, and hardware maintains a centralized warehouse for the distribution of products ordered. Management is currently examining the process of distribution from the warehouse and has the business objective of determining the factors that affect warehouse distribution costs. Currently, a handling fee is added to the order, regardless of the amount of the order. Data that indicate the warehouse distribution costs and the number of orders received have been collected over the past 24 months and can be seen below: Months Distribution Cost ($thousands) Number of Orders 1 52.95 4015 2 71.66 3806 3 85.58 5309 4 63.69 4262 5 72.81 4296 6 68.44 4097 7 52.46 3213 8 70.77 4809 9 82.03 5237 10 74.39 4732 11 70.84 4413 12 54.08 2921 13 62.98 3977 14 72.30 4428 15 58.99 3964 16 79.38 4582…arrow_forwardWhat is business analytics? Briefly describe the domain of the major fields of business analytics databases and data warehousing, descriptive, predictive, and prescriptive analytics.arrow_forward
- Globally, numerous people died in road traffic crashes every year. For the betterment of the public at large, ways to alleviate the frequency and severity of traffic crashes have been the primary concerns of many governments. In fact, many traffic crashes can be avoided with the implementation of effective policies and regulations. Assume that a dataset is collected for traffic crash analysis. The dataset contains data of severe traffic crashes between 2015 and 2019 in Australia. The description of the dataset is listed in Table 1. Suggest two (2) additional variables that can be included in traffic crash analysis. Explain the rationale of their inclusion. Table 1. Description of the dataset Field Description Experience The driving experience of the driver (Under 7 years/7- 14 years/Over 14 years) Whether the crash involves fatigue driving (True/False) Whether the crash involves drunk or drug driving (True/False) The type of road where the crash occurs (E.g., Highway, Freeway, etc) The…arrow_forwarden 000 Pursuing an MBA is a major personal investment. Tuition and expenses associated with business school programs are costly, but the high costs come with hopes of career advancement and high salaries. A prospective MBA student would like to examine the factors that impact starting salary upon graduation and decides to develop a model that uses program per-year tuition as a predictor of starting salary. Data were collected for 37 full-time MBA programs offered at private universities. The data are stored in the accompanying table. Complete parts (a) through (e) below. E Click the icon to view the data on program per-year tuition and mean starting salary. a. Construct a scatter plot. Choose the correct graph below. OA. O B. В. OC. OD. O D. Q 80,000- 80,000- TOLL 200,000- 200,000- 0- 0+ 04 200,000 Starting Salary (S) 80,000 200,000 Starting Salary (S) 80,000 Tuition ($) Tuition ($) b. Assuming a linear relationship, use the least-squares method to determine the regression coefficients…arrow_forwardConsider a business owner, how would you use methodology and the data results to increase sales or improve overall profitability? What are some of your recommendations?arrow_forward
- Profitability remains a challenge for banks and thrifts with less than $2 billion of assets. The business problem facing a bank analyst relates to the factors that affect return on assets (ROA), an indicator of how profitable a company is relative to its total assets. Data collected from a sample of 88 community banks include the ROA (%), the efficiency ratio (%), as a measure of bank productivity (the lower the efficiency ratio, the better), and total risk-based capital (%), as a measure of capital adequacy. Use the accompanying multiple linear regression results to complete parts (a) and (b) below. Variable Coefficient Standard Error t Statistic p-value Intercept −0.21762 0.39401 −0.55 0.5822 Efficiency Ratio, X1 0.01443 0.00498 2.90 0.0048 Risk-Based Capital, X2 0.04002 0.01034 3.87 0.0002 Determine the p-value for X1. p-value=________ (Type an integer or a decimal. Do not round.)arrow_forwardProfitability remains a challenge for banks and thrifts with less than $2 billion of assets. The business problem facing a bank analyst relates to the factors that affect return on assets (ROA), an indicator of how profitable a company is relative to its total assets. Data collected from a sample of 88 community banks include the ROA (%), the efficiency ratio (%), as a measure of bank productivity (the lower the efficiency ratio, the better), and total risk-based capital (%), as a measure of capital adequacy. Use the accompanying multiple linear regression results to complete parts (a) and (b) below. Variable Coefficient Standard Error t Statistic p-value Intercept −0.21762 0.39401 −0.55 0.5822 Efficiency Ratio, X1 0.01443 0.00498 2.90 0.0048 Risk-Based Capital, X2 0.04002 0.01034 3.87 0.0002 a. Construct a 95% confidence interval estimate of the population slope between ROA and efficiency…arrow_forwardProfitability remains a challenge for banks and thrifts with less than $2 billion of assets. The business problem facing a bank analyst relates to the factors that affect return on assets (ROA), an indicator of how profitable a company is relative to its total assets. Data collected from a sample of 88 community banks include the ROA (%), the efficiency ratio (%), as a measure of bank productivity (the lower the efficiency ratio, the better), and total risk-based capital (%), as a measure of capital adequacy. Use the accompanying multiple linear regression results to complete parts (a) and (b) below. Variable Coefficient Standard Error t Statistic p-value Intercept −0.21762 0.39401 −0.55 0.5822 Efficiency Ratio, X1 0.01443 0.00498 2.90 0.0048 Risk-Based Capital, X2 0.04002 0.01034 3.87 0.0002 Find the test statistic for X1. tSTAT=______ (Type an integer or a decimal. Do not round.)arrow_forward
- The Federal Bureau of Investigation reports state-level and national data on crimes. An investigator compares the incidence of crime in the United States in 1991 and in 2001. In 1991, there were 28,000 crimes compared with 22,000 in 2001. Can you conclude that the US became more law-abiding over that time period?arrow_forwardThe success of an airline depends heavily on its ability to provide a pleasant customer experience. One dimension of customer service on which airines compete is on-time arrival. The file LateFlights contains a sample of data from delayed fights showing the number of minutes each delayed fight was late for two dfferent airlines, Deita and Southwest. Click on the datafile logo to reference the data. DATA file Delta Southwest Delta Southwest Delta Southwest Delta Southwest Deita 36 30 34 38 119 120 63 37 35 67 114 53 102 55 8 87 68 100 43 50 86 74 17 66 87 35 40 34 64 41 53 30 86 33 57 61 7. 46 S2 26 70 62 75 54 80 a. Formulate the hypotheses that can be used to test for a difference between the population mean minutes late for delayed flights by these two airlines. 41= population mean minutes late for delayed Deita flights Ha = population mean minutes late for delayed Southwest flights Ho: H- 2Select your answer H.: -4a- Select your answer b. What is the sample mean number of minutes…arrow_forwardGovernment economic studies reveal that young adults, not middle-aged or older adults, are having the most difficult time in today’s economy. Although the nation’s labor market shows a decline in the unemployment rate, the percentage of young adults, ages 18 to 24, currently employed (54 percent) is at the lowest level since the government data collection began in 1948. If you were working for a national survey organization doing a general public survey of young adults and older adults, what topics and questions would you design into your survey to elaborate on this finding?arrow_forward
- Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw HillBig Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin Harcourt