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Chapter: 2- MODELING IN A PROBLEM?SOLVING FRAMEWORK -Problem: 3 >> What are the decisions, outcomes, and relationships in the problem? The four short cases we have analyzed in this chapter (Retirement Planning, Draft TV Commercials, Icebergs for Kuwait, and Racquetball Racket) are reproduced with full details toward the end of this book. For each of these cases, prepare for building a model by reading the full case and answering the following questions
Answer Preview: a. The decisions were to seek out an alternative to …

, Chapter: 4- ANALYSIS USING SPREADSHEETS -Problem: 11 >> Refer to the Draft TV Commercials case. From the corresponding exercise in Chapter 3, review the design of a spreadsheet for this problem.a. Develop a base case. You may create any data you need for this purpose. Why is this base case appropriate for this situation?b. Perform an appropriate sensitivity analysis. Which parameters have the most significant impact on the results? Can you find applica
Answer Preview: a . The base case in this situation is appropriate because it provides a starting point for evaluati…

, Chapter: 4- ANALYSIS USING SPREADSHEETS -Problem: 9 >> Refer to the ERP Decision case. From the corresponding exercise in Chapter 3, review the design of a spreadsheet that will assist the Board in understanding the likely costs and benefits of implementing ERP.a. Develop a base case. You may create any data you need for this purpose.Why is this base case appropriate for this situation?b. How sensitive are the benefits of ERP in the base case to the e
Answer Preview: Answer a. The base case for this situation is the expect…

, Chapter: 3- SPREADSHEET ENGINEERING -Problem: 13 >> Refer to the Racquetball Racket case. Review the problem statement and influence chart that were generated for this case in conjunction with the corresponding exercises in Chapter 2. (If this has not yet been done, develop the problem statement and influence chart as preliminary steps.) Design a spreadsheet to evaluate the Net Present Value of selling the new ball at $0.65, assuming the competitor
Answer Preview: To evaluate the Net Present Value (NPV) of selling the new ball at $0 65, assuming the competitor do…

, Chapter: 3- SPREADSHEET ENGINEERING -Problem: 9 >> Refer to the ERP Decision case. Design a spreadsheet that will assist the Board in evaluating the net benefits of implementing the ERP system. The above exercises refer to the cases in the back of this book. Read the case description carefully, sketch an appropriate spreadsheet on paper, and then build and test a prototype model. The purpose of the model is specified in the question.
Answer Preview: Spreadsheet design: Inputs Outputs Implementation costs (in $) Net benefits (in $) Ongoing maintenance costs (in $/year) Net benefits (in $) Increased efficiency (in %) Net benefits (in $) Improved da…

, Chapter: 3- SPREADSHEET ENGINEERING -Problem: 11 >> Refer to the Draft TV Commercials case. Review the problem statement and influence chart that were generated for this case in conjunction with the corresponding exercises in Chapter 2. (If this has not yet been done, develop the problem statement and influence chart as preliminary steps.) Design a spreadsheet to determine the impact on ad quality of paying for three draft commercials.The above exe
Answer Preview: Problem statement: The Draft TV Commercials company has received a request from a potential client to produce three draft commercials for a new product launch. The client has a limited budget and has …

, Chapter: 2- MODELING IN A PROBLEM?SOLVING FRAMEWORK -Problem: 6 >> What modules will we need to build? The four short cases we have analyzed in this chapter (Retirement Planning, Draft TV Commercials, Icebergs for Kuwait, and Racquetball Racket) are reproduced with full details toward the end of this book. For each of these cases, prepare for building a model by reading the full case and answering the following questions
Answer Preview: 1 . Retirement Planning : Financial forecasting module , modeling and optimizatio…

, Chapter: 2- MODELING IN A PROBLEM?SOLVING FRAMEWORK -Problem: 8 >> What are the parameters of the problem? The four short cases we have analyzed in this chapter (Retirement Planning, Draft TV Commercials, Icebergs for Kuwait, and Racquetball Racket) are reproduced with full details toward the end of this book. For each of these cases, prepare for building a model by reading the full case and answering the following questions
Answer Preview: 1 . What is the decision to be made ? 2 . What factors affect …

, Chapter: 4- ANALYSIS USING SPREADSHEETS -Problem: 13 >> Refer to the Racquetball Racket case. From the corresponding exercise in Chapter 3, review the design of a spreadsheet for this problem.a. Develop a base case. You may create any data you need for this purpose.Why is this base case appropriate for this situation?b. Perform an appropriate sensitivity analysis. Which parameters have the most significant impact on the results? Can you find applicatio
Answer Preview: A . The base case for this situation is a forecast of the sales of rac quet ball rack ets over the c…

, Chapter: 4- ANALYSIS USING SPREADSHEETS -Problem: 10 >> Refer to the Retirement Planning case. From the corresponding exercise in Chapter 3, review the design of a spreadsheet for this problem.a. Develop a base case. You may create any data you need for this purpose. Why is this base case appropriate for this situation?b. Perform an appropriate sensitivity analysis. Which parameters have the most significant impact on the results? Can you find applicat
Answer Preview: a . The base case for this situation would be to assume that the couple will retire at age 65 , thei…

, Chapter: 13- DECISION ANALYSIS -Problem: 1 >> Construct a spreadsheet that makes the calculations required to analyze the decision in the WGT example. Include in the spreadsheet the calculation of the expected profit for each action and the calculation of the expected regret for each action. As a check, confirm that these two expected values match the values mentioned in the chapter.a. Does the expected regret equal the EVPI for this example?
Answer Preview: A . Yes , the expected regret equals the EV PI for th…

, Chapter: 5- DATA EXPLORATION AND PREPARATION -Problem: 4 >> The dataset Executives.xlsx contains salary and company data on a number of executives.a. How many records are in this dataset?b. How many fields are in this dataset?c. Are there any missing data?d. Is the STATE field nominal or ordinal?e. Among the top five executives in terms of Salary, how many work in the oil industry?f. How many executives work for companies in California or New York and have
Answer Preview: a. There are 24 records in this dataset. b. There are 7 fields in this dataset, which are Name, Gender, Company, State, Salary, Bonus and Return on Assets. c. Yes, there is some missing data in this d…

, Chapter: 2- MODELING IN A PROBLEM?SOLVING FRAMEWORK -Problem: 4 >> Draw an influence chart for the problem. The four short cases we have analyzed in this chapter (Retirement Planning, Draft TV Commercials, Icebergs for Kuwait, and Racquetball Racket) are reproduced with full details toward the end of this book. For each of these cases, prepare for building a model by reading the full case and answering the following questions
Answer Preview: An influence chart is a visual representation of the relationships and dependencies between differen…

, Chapter: 2- MODELING IN A PROBLEM?SOLVING FRAMEWORK -Problem: 2 >> Formulate one or more problem statements. The four short cases we have analyzed in this chapter (Retirement Planning, Draft TV Commercials, Icebergs for Kuwait, and Racquetball Racket) are reproduced with full details toward the end of this book. For each of these cases, prepare for building a model by reading the full case and answering the following questions.
Answer Preview: 1. What choice has to be made? The choice is whether to retire now or in the future. 2. What are the …

, Chapter: 3- SPREADSHEET ENGINEERING -Problem: 10 >> Refer to the Retirement Planning case. Review the problem statement and influence chart that were generated for this case in conjunction with the corresponding exercise in Chapter 2. (If this has not yet been done, develop the problem statement and influence chart as preliminary steps.) Design a spreadsheet to estimate the impact on Davidson’s retirement of increasing his annual retirement savings
Answer Preview: To estimate the impact on Davidson's retirement of increasing his annual retirement savings by 10 percent, we will need to gather information on the …

, Chapter: 3- SPREADSHEET ENGINEERING -Problem: 12 >> Refer to the Icebergs for Kuwait case. Review the problem statement and influence chart that were generated for this case in conjunction with the corresponding exercises in Chapter 2. (If this has not yet been done, develop the problem statement and influence chart as preliminary steps.) Design a spreadsheet to estimate the economic value of the freshwater produced by towing the largest possible i
Answer Preview: The following spreadsheets can be used to estimate the economic value of the freshwater produced by …

, Chapter: 7- SHORT-TERM FORECASTING -Problem: 1 >> For the moving-average example in Figure 7.2, compute the three error measures based on the forecasts for periods 5–10.a. What is the value of MSE?b. What is the value of MAD?c. What is the value of MAPE?
Answer Preview: a . The value of M S…

, Chapter: 2- MODELING IN A PROBLEM?SOLVING FRAMEWORK -Problem: 7 >> What are the key relationships in the problem? Draw their graphs. The four short cases we have analyzed in this chapter (Retirement Planning, Draft TV Commercials, Icebergs for Kuwait, and Racquetball Racket) are reproduced with full details toward the end of this book. For each of these cases, prepare for building a model by reading the full case and answering the following questions
Answer Preview: Retirement Planning: Key relationships: The relationship between the amount of money saved for retir…

, Chapter: 5- DATA EXPLORATION AND PREPARATION -Problem: 7 >> The dataset German Credit.xlsx contains data on prior applicants for credit, including whether they proved to have good or bad credit.a. How many records are in this dataset?b. How many fields are in this dataset?c. Is the field HISTORY nominal or ordinal?d. Is the field PRESENT_RESIDENT nominal or ordinal?e. Howmanyrecordsaremale, divorced,andunskilledresident?f. Which record number has the highe
Answer Preview: a . There are 1000 records in this dataset . b . There a…

, Chapter: 4- ANALYSIS USING SPREADSHEETS -Problem: 12 >> Refer to the Icebergs for Kuwait case. From the corresponding exercise in Chapter 3, review the design of a spreadsheet for this problem.a. Develop a base case. You may create any data you need for this purpose. Why is this base case appropriate for this situation?b. Perform an appropriate sensitivity analysis. Which parameters have the most significant impact on the results? Can you find applicat
Answer Preview: a . A base case for this situation would be to assume that Kuwait will be to wing a 1 , 000 ton iceb…

, Chapter: 2- MODELING IN A PROBLEM?SOLVING FRAMEWORK -Problem: 5 >> In what ways could we simplify the problem? The four short cases we have analyzed in this chapter (Retirement Planning, Draft TV Commercials, Icebergs for Kuwait, and Racquetball Racket) are reproduced with full details toward the end of this book. For each of these cases, prepare for building a model by reading the full case and answering the following questions
Answer Preview: a What do we know? Retirement arranging: The given case investigates about B's retirement arranging. Further, it discusses his present pay, current monetary status, alongside resources controlled by w…

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13 Reviews for Business Analytics The Art Of Modeling With Spreadsheets Textbook Questions And Answers