Business Analytics
Business Analytics
3rd Edition
ISBN: 9780135231678
Author: Evans, James R. (james Robert)
Publisher: PEARSON EDUCATION (COLLEGE)
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Chapter 1, Problem 4PE

For each of the following scenarios, state whether descriptive, predictive, or prescriptive analytics tools would most likely be used.

  1. a. The chief financial officer for a small manufacturing firm would like to estimate the net profit that the firm could expect over the next three years.
  2. b. A human resource manager needs to understand whether the company’s current employee mix has the skills and capabilities needed to achieve the goals laid out by a new strategic plan.
  3. c. A financial advisor would like to develop the best mix of stocks, bonds, and other investments for a client to achieve a comfortable level of risk.
  4. d. A large service firm wishes to determine how to invest the cash received from its financial product to achieve the best return.
  5. e. A logistics company wants to better understand the relative profitability of its numerous customers over the past three years.
  6. f. A disaster relief agency needs to allocate its budget for the next year among various relief efforts and programs.
  7. g. An automobile company would like to determine the number of vehicles it could sell next year based on the proposed price.
  8. h. A baseball team would like to set ticket prices for different sections in its stadium to attract the highest number of fans throughout the season.
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Chapter 1 Solutions

Business Analytics

Ch. 1 - Define prescriptive analytics and provide two...Ch. 1 - Define prescriptive analytics and provide two...Ch. 1 - Define prescriptive analytics and provide two...Ch. 1 - State three examples of how data are used in...Ch. 1 - How are data obtained from the Web used in...Ch. 1 - Define big data and list the four characteristics...Ch. 1 - Explain the concepts of data reliability and...Ch. 1 - Define a model and state three common forms of a...Ch. 1 - Prob. 5.2CYUCh. 1 - Prob. 5.3CYUCh. 1 - Define optimization and the characteristics of...Ch. 1 - Explain the importance of assumptions in building...Ch. 1 - What is the difference between uncertainty and...Ch. 1 - List the major phases of problem solving and...Ch. 1 - What lessons did Hewlett-Packard learn about using...Ch. 1 - For each of the following scenarios, state whether...Ch. 1 - Suppose that a manufacturer can produce a part for...Ch. 1 - Use the model developed in Example 1.5 to predict...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 - PERFORMANCE LAWN EQUIPMENT In each chapter of this...Ch. 1 - Develop a spreadsheet for computing the demand for...Ch. 1 - The Excel file Science and Engineering Jobs shows...Ch. 1 - A new graduate has taken a job with an annual...Ch. 1 - Example 1.2 in the chapter described a scenario...Ch. 1 - Return on investment (ROI) is profit divided by...Ch. 1 - In the Accounting Professionals database, use...Ch. 1 - Prob. 7PEACh. 1 - Prob. 8PEACh. 1 - The worksheet Base Data in the Excel file Credit...Ch. 1 - The Excel file Store and Regional Sales Database...Ch. 1 - Define range names for all the data and model...Ch. 1 - Define range names for all the entities in the...Ch. 1 - Define range names for all the entities in the...
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