EBK BUSINESS ANALYTICS
3rd Edition
ISBN: 9780136880844
Author: Evans
Publisher: PEARSON
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Chapter 2, Problem 12PE
Use Excel’s filtering capability in the Purchase Orders database to extract
- all orders for control panels.
- all orders for quantities of less than
- all orders for control panels with quantities of less than
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3. Bayesian Inference – Updating Beliefs
A medical test for a rare disease has the following characteristics:
Sensitivity (true positive rate): 99%
Specificity (true negative rate): 98%
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A patient receives a positive test result.
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a) Define the relevant events and use Bayes’ Theorem to compute the probability that the patient actually has the disease.b) Explain why the result might seem counterintuitive, despite the high sensitivity and specificity.c) Discuss how prior probabilities influence posterior beliefs in Bayesian inference.d) Suppose a second, independent test with the same accuracy is conducted and is also positive. Update the probability that the patient has the disease.
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Ŷ50,000+150X
YBoB₁X + €
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R² = 0.76
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5. Probability Distributions – Continuous Random Variables
A factory machine produces metal rods whose lengths (in cm) follow a continuous uniform distribution on the interval [98, 102].
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Chapter 2 Solutions
EBK BUSINESS ANALYTICS
Ch. 2 - The Excel file Syringe Samples provides data for...Ch. 2 - Convert the Store and Regional Sales database to...Ch. 2 - Convert the Purchase Orders database to an Excel...Ch. 2 - Prob. 6PECh. 2 - Prob. 8PECh. 2 - In the Excel file Automobile Quality, search for...Ch. 2 - Prob. 10PECh. 2 - Conduct a Pareto analysis for the number of...Ch. 2 - Use Excels filtering capability in the Purchase...Ch. 2 - In the Sales Transactions database, use Excels...
Ch. 2 - Filter the data in the Bicycle Inventory database...Ch. 2 - Use the Excel file Credit Risk Data that was...Ch. 2 - Apply the Advanced Filter to the Credit Risk Data...Ch. 2 - Prob. 17PECh. 2 - For the Bicycle Inventory database, use database...Ch. 2 - For the Bicycle Inventory database, write a...Ch. 2 - The Excel file SP500 provides open, high, low, and...Ch. 2 - In the Purchase Orders database, we need to find...Ch. 2 - An auditor found an expense receipt for 179.24...Ch. 2 - Use PivotTables to find the number of sales...
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