Description

Type your answers in the Excel File on Blackboard. Submit your finished work with the excel file onto Blackboard.

Suppose that the average time an employee takes to reach the office is 35 minutes. To address the issue of late comers, the mode of transport chosen by the employee is tracked: private transport (two-wheelers and four-wheelers) and public transport. The data on the average time (in minutes) taken using both a private transportation system and a public transportation system for a sample of employees are given below.

Private Transport Public Transport

27 30

33 29

28 25

32 20

20 27

34 32

30 37

28 38

18 21

29 35

What are the mean and median travel times for employees using a private transport? What are the mean and median travel times for employees using a public transport?

What are the variance and standard deviation of travel times for employees using a private transport? What are the variance and standard deviation of travel times for employees using a public transport?

Comment on the results.

The data on the scores obtained by students in five different entrance exams have been collected from 50 colleges and they are provided below. Create a PivotTable in Excel to display the number of students who took each exam and the average score for students in each exam.

Exams Scores Exams Scores

SAT 520 MCAT 487

ACT 400 GRE 267

MCAT 580 GMAT 455

GRE 280 SAT 528

GMAT 540 GMAT 536

ACT 356 SAT 469

MCAT 520 GRE 455

GRE 355 MCAT 520

GMAT 480 GRE 489

SAT 574 ACT 455

GRE 396 MCAT 589

GMAT 450 GRE 500

ACT 420 GMAT 500

MCAT 560 SAT 528

GRE 297 GMAT 480

GMAT 520 SAT 475

SAT 489 GMAT 570

GMAT 500 ACT 480

SAT 566 MCAT 567

GRE 451 GRE 546

GMAT 460 GMAT 544

ACT 422 SAT 420

MCAT 550 GMAT 453

GRE 310 SAT 510

ACT 384 GRE 473

Which exam did most students attempt?

Which exam has the highest average score?

Students taking the Graduate Management Admissions Test (GMAT) were asked about their undergraduate major and intent to pursue their MBA as a full-time or part-time student. A summary of their response follows.

Undergraduate Major

Intended Enrollment Status Business Engineering Other Totals

  Full-Time 352 197 251 800

  Part-Time 150 161 194 505

  Totals 502 358 445 1305

If a student was an undergraduate business major, what is the probability that the student intends to attend classes full-time in pursuit of an MBA degree?

If a student intends to attend classes full-time in pursuit of an MBA degree, what is the probability that the student was an undergraduate engineering major?

Let F denote the event that the student intends to attend classes full-time in pursuit of an MBA degree, and let B denote the event that the student was an undergraduate business major. Are events F and B independent? Justify your answer.

A survey is conducted to determine whether the age of car influences the annual maintenance cost. A sample of 10 cars is selected and the data is shown below.

Age of car (months) x Annual Maintenance Cost ($) y

3 120

5 115

6 135

7 290

9 275

10 300

11 350

13 475

14 500

15 550

Develop a scatter chart for these data with age of cars as the independent variable. What does the scatter chart indicate about the relationship between age of a car and the annual maintenance cost?

Use the data to develop an estimated regression equation that could be used to predict the annual maintenance cost given the age of the car. What is the estimated regression model?

Eastbay Publishing Company is considering publishing an electronic textbook about spreadsheet applications for business. The fixed cost of manuscript preparation, textbook design, and web-site construction is estimated to be $160,000. Variable processing costs are estimated to be $6 per book. The publisher plans to sell single-user access to the book for $46.

Build a spreadsheet model to calculate the profit/loss for a given demand. What profit can be anticipate with a demand of 3500 copies?

Use Goal Seek to determine the demand that will make the profit equals to 0.

Use a data table to vary demand from 1000 to 6000 in increments of 200 to assess the sensitivity of profit to demand.

Instruction Files