Submitted By AnaAlmeida28

Words 2902

Pages 12

Words 2902

Pages 12

Course Title: Applied Managerial Statistics

Course Number: GM 533

Instructor Name: Susan Orr

Student Name: Braulio E. Assis (713-382-8789)

Home Address: 3833 Cummins St Apt.1328, Houston, TX 77027

Email Address: edmur_assis2005@hotmail.com

Title of the Work: “Statistical Analysis in the Car Market”

Date: Aug 19, 2011

Introduction

Business managers and owners in the car industry need information on which they could anchor their decision to maximize the company’s profit as well as to ensure efficiency and productivity of the operations of their business. One of these factors is the price, which is one the key determinants of demand and supply. Further, it is essential for them to know the various factors that affect the price of cars and how each of those factors influence the price.

This report presents the result of the statistical analysis done in order to identify the factors that significantly affect the price of cars. The asking price is in terms of dollars. The predictor variables considered are the following: whether the car is convertible or not (CONVERT), the age of cars in years (AGE), the odometer reading in miles (MILES), whether the car is automatic or not (TRANS), whether the car has air conditioner or not (AIR), the number of cylinder in engine (CYL), the color (maroon, silver, grey, red, blue, black or white), (8) the model of the car, whether it is a GT model or not, and (9) the ownership which is either private or dealer owner.

The analysis involved 35 cars from 1 to 8 years. The price of the cars ranges from $2,488 to $14,500 with an average of $8,194. In terms of the odometer reading, the minimum recorded is 3000 miles while the maximum is 110,000 miles. Out of the 35 cars, majority were found to be non-convertible (20), automatic (21), having 8 engines (24), with blue (9) and white (9)…...

...will be gathered and organized categorically into cold beverages that are considered healthy, cold beverages that are most popular, sodas, fruit juices, etc. to determine how the organization could capitalize in the market by gaining greater market shares by strategically introducing a new cold beverage product. In this case my line of questioning would be what popular drinks are being marketed successfully currently? Is the health-concious drinks and foods at the top of the food chain currently? Is there a more convenient consumption of cold beverages we can capitalize on such as a no-sugar-added fruit juice in a carton that is individual in size? How will the product be marketed? What regions are the cold beverages selling best? What surveys indicate who is buying the drinks by gender, age, time of year, etc. These are all questions that would be important to my report to identify a relationship between variables, probably single linear analysis would provide this information best with dependent and independent variables to be considered. The variables in my mind then become gender, will the drink be more appealing to women than men; portability, will the personalized approach to individual grab-and-go drinks be more appealing to consumers in that market? Research could easily show a company where most cold beverages are sold from regionally designed research for collecting this data. This variable would be region. The generational/age input or “baby boomer”......

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...LO3: Understand the behaviour of organisations in their market environment LO4: Be able to assess the significance of the global factors that shape national business activities Scenario: Understanding the environment within which the business has to operate is very important for running a business unit successfully. The environmental factors influence almost every aspect of business; be it its nature, its location, the price of products, the distribution system, and the personnel policies. Hence, it is important to learn about the various components of the business environment, which consists of the economic aspect, the socio-cultural aspects, the political framework, the legal aspects and the technological aspects. Evaluating the external environmental factors is as crucial as analysing the internal environment to all organisations. Working as an assistant to the Business Development Manager you need to conduct research on various aspects of the business environment. Task 1: understand the nature of the national environment in which businesses operate: INDIVIDUAL REPORT DATED DECEMBER 3, 2012 P4: Explain how economic systems attempt to allocate resources effectively P5: Assess the impact of fiscal and monetary policy on business organisations and their activities P6: Evaluate the impact of competition policy and other regulatory mechanisms on the activities of a selected organisation. P7: Explain how market structures determine the pricing and output......

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...Basic statistical analysis is descriptive analysis, descriptive statistics summarizes responses for large numbers of respondents in a few simple statistics. When a sample is gathered, the sample descriptive statistics are used to make inferences about characteristics of the entire population of interests. Descriptive analysis is describing data in a way that explains the basic characteristics such as tendency, distribution, and variables. Examples of this would be if a company wanted to find out what type of bonus employees prefer. Descriptive statistics are used to explain the basic properties of these variables. Mean, Median, and Modes are descriptive statistics that is used to explain the basic properties of variables. The mean would reflect the average answer that is given. The Median would provide the answer that is the central, or middle range answer. The mode would be the answer that was given the most often. Tabulation refers to the orderly arrangement of data in a table or other summary format. When the tabulation process is done by hand, the term tallying is used. Simple tabulation tells how frequently each response or bit of information occurs. Cross Tabulation is used for addressing research questions involving relationships among multiple less than interval variables. One key factor in interpreting a cross tabulation table is comparing the observed table values with the hypothetical values that could result from pure chance. Percentage Cross......

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...Final Project: Statistics II Descriptive analysis of statistical data INTRODUCTION There have always been crimes, from a treachery to an assassination. Happens in every country you can think of, and every government has to deal with it. It is really stressful to try to understand the nature of the crimes: why are they done and where could they happen next. Out of this preoccupation is that we found studies gathering data from communities; we focused on one specific crime: murders. In several communities, it is thought that the murder rate is somehow related to several factors. For instance, it is common to hear that the murder rate depends on poverty and unemployment. Starting from this hypothesis, the database found to make this analysis relates the number of murders per year per 1,000,000 inhabitants with the number of inhabitants, the percentage of families’ incomes below $5000, and the percentage unemployed. OBJECTIVE OF THE STUDY Trying to estimate how many murders will happen in a year in a specific place is difficult, but not impossible. This is why we are using the dataset found with the variables mentioned above, with which we’ll be able to find a formula. So, after this project, if we want to know how many murders will be on a city, for example Monterrey, we’d just plug in the data from that city (the inhabitants, the percentage of families income below $5000, and the percentage unemployed) and we’ll get a number, which would be the predicted number of......

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...BMW, the Bavarian based luxury car producer is seen as one of the most prestigious, stable and admired companies in the world. BMW takes differentiation strategy to ensure BMW Group's lead over competitors and to actively shape the company's future by creating BMW vehicles that are perceived by customers to be unique. The mission statement of BMW Group is clearly defined: “the BMW Group is the world’s leading provider of premium products and premium services for individual mobility”. Another important point in the mission statement was that “BMW Group will invest substantially in future technologies, new vehicle concepts and pioneering drive systems”. This means that in addition to providing quality services to its customers, the BMW Group will engage in new and profitable areas to enhance the business. Vehicles made by BMW are able to command premium prices the prices of BMW Group are based on a differentiated strategy. This means that they charge extra for premium quality. This difference in prices is due to each cars different engine size, gear levels, fuel consumption, sports version. Premium-tization trend of BMW causes polarization of markets. This trend triggers the consumers to demand and pay much higher prices for the perceived quality because customers perceive that the luxury, sportiness, and prestige of owing these vehicles are something worth paying for. The ability to increase revenues by charging premium prices allows BMW group to outperform its competitors......

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...tools (e.g., spreadsheet, database) or creating custom programs. MIS 301: Statistical Analysis for Business At the end of this course students should be able to: 1. Use data from a sample to make inferences about a population. 2. Apply probability theory in decision making situations. 3. Formulate hypotheses for decision making and research. 4. Analyze data using appropriate statistical techniques. 5. Interpret the results of statistical analysis. 6. Present statistical results using graphics, text, and the spoken word. MIS 302: Introduction to Operations Management At the end of this course students should be able to: 1. Define the role of operations and supply chain in an organization and its interactions with business functions such as accounting, finance, and marketing. 2. Develop the basic business and operations strategies for increased productivity and competitiveness for service and manufacturing. 3. Use descriptive and optimization models and incorporate cost drivers to improve general business decision making. 4. Identify issues in inventories and resources for an organization and use basic models to improve its management 5. Design quality management strategies, techniques and tools for improved customer satisfaction. 6. Plan the basic scheduling for project and its management 7. List and apply lean operations principles. 1 Last updated August 2012 MIS 306: Information Systems Analysis At the end of this course students should be able to: 1. Work in a......

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...ABSTRACT As the Indian car market is one of the fastest growing car markets in the world, there is a race to carve out a sizeable chunk among the car manufacturers. With market over flooded by various car models than ever before, customers’ face a hard time in making their right choices. While consumers have many options available, an attempt to purchase a car without researching extensively can become a costly mistake. This report deals with one of the complex decisions on owing a right vehicle. The main aim is to decide the best suitable car for our family, which meets the intended expectations. Analytic Hierarchy Process (AHP), which is based on pair-wise comparison of each alternative, is used to structure the approach towards the decision. At the end of the calculation we check the consistency of results using the Consistency Ration (CR). The decision parameters and ratings awarded for analysis are purely based on my perspective and has nothing to do with the brand or car company. SUMMARY Purchasing a new car is an expensive purchase, second only to a new home for many Indian consumers. That is why it is also critical for us to research before choosing a car that optimises financial and operation goals. This report distils the various available alternatives in the Indian car market to come up with the optimal car, which suits both the personal and business need of our family. Conventional wisdom says that the diesel vehicles are more fuelefficient than the petrol,......

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...Statistical Analysis Process: Generally, all of the business courses that you take are focused on answering a single question - “What can managers do to improve the performance of their organizations?” It is not sufficient to theorize that a particular business strategy will lead to improved performance. You must test the theory. The statistical analysis process is a standardized methodology for testing theories. Generally, you identify a strategy that you believe may work, you ask experts what they think about the strategy, you analyze the data collected from the experts, you interpret the results from the analysis, and you draw conclusions about how well the strategy works based on the interpretations. All remaining assignments require that you follow this process. 1. State the research question. This is general question related to our area of concern. For example: “What can managers do to improve the performance of their organizations?” That’s probably stated a little too generally. More specific examples include: “Will implementation of a market orientation strategy improve my organization’s performance?” and “Will implementation of JIT and TQM improvement programs combine to improve my organization’s performance?” 2. State the hypotheses. Hypotheses are formulated from the research question. They must be stated in a form that is statistically testable. For example, “Market orientation is positively associated with operational......

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...salaries for schools requiring English test = µ (starting salaries for schools not requiring english test) Alternative hypothesis (Ha): µ (starting salaries for schools requiring English test) ≠ µ (starting salaries for schools not requiring English test) Significance level = 5% Minitab test results: Conclusion: At 5% significance level, P-value is 0.245 which is greater than 0.05. FAIL TO REJECT NULL HYPOTHESIS. 95% CI for difference contains 0. Hence, there is no statistically significant difference between the mean starting salary of schools requiring and not requiring English test. Part 3: Relation between starting salaries and tuition: We can conduct a correlation analysis to measure association between starting salaries and tuition fees. Two separate correlation analysis can be conducted using local and foreign tuition fees data sets. Correlation between starting salaries and local tuition fees: There is a significant strong positive linear correlation between Local Tuition and Starting Salary of MBA graduates. As the Local Tuition fee increases, the starting salaries increase too. Correlation between starting salaries and foreign tuition fees: There is a significant strong positive linear correlation between Foreign Tuition and Starting Salary of MBA graduates. As the Foreign Tuition fee increases, the starting salaries increase too. Part 4: There are three interesting observations that I’d like to cover in this section: 1.......

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...Statistical Information Paper HCS 438 July 17, 2011 Monica Vargas Statistical Information Paper Statistics are used in many different ways in my workplace. The use of statistics is for the improvement of quality care and safety. Statistics are also used to measure employee compliance in regards to hand washing and proper use of policies and procedures. We also use charts and graphs to show infection rates, skin integrity, falls within the facility, budget concerns, and many more. These graphs help hospital personal improve care and safety to provide quality care to all patients. Graphs can also be used to measure patient and employee satisfaction. Descriptive statistics are used to describe the basic features of the data in a study and do not involve generalizing the data that has been collected. They provide simple summaries about the sample and the measures. Together with simple graphics analysis, they form the basis of virtually every quantitative analysis of data (Trochim, 2006). An example of descriptive statistics used at my workplace can be the number of patients that are admitted into the hospital on a Monday versus a patient admitted on any other day of the week. This information can also be broken down into more descriptive categories such as how many patient were men, women , children, what is their diagnosis, why were they admitted, and so on and so forth. We use inferential statistics to make judgments of the probability that an observed......

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...Market Analysis: Car industry A market is a platform where the forces of demand and supply, essentially in the form of buyers and sellers interact. It is a switchboard that directs those with a commodity towards those who are in need of it. Since demand and supply exists for virtually all products, similarly a market for cars also exists. The car market globally is dominated by the Japanese after the decline in the American car makers after the World War II. This market today is dominated by names like Honda, Toyota, Chrysler (now bankrupt), GM (now bankrupt), Mercedes, BMW and Ford etc. In the recent years, the market for cars has undergone major demand and supply changes, causing the prices to fluctuate, but this fluctuation has been a stable one. Demand Forces The demand for cars in the world, in general, was increasing until the world was hit was a recession. The recession has impacted demand negatively. Demand can be defined as the quantity of a commodity, in our case cars, demanded at a certain price over a given period of time. The demand for cars is price elastic, which means that a price and quantity demanded have an inverse relationship, and an increase in the price of cars will cause the demand to fall. The world market for cars has also seen a downward trend on the demand graph due to the recent economic crisis in the world. All the sectors in the economies all over the world have seen a decline in demand. Since all the sectors within an economy are......

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...MA260 statistical analysis 1 Click Link Below To Buy: http://hwcampus.com/shop/ma260-statistical-analysis-1/ 1. A recent article in the Myrtle Beach Sun Times reported that the mean labor cost to repair a color television is $90 with a standard deviation of $22. Monte’s TV Sales and Service completed repairs on two sets this morning. The labor cost for the first was $75 and it was $100 for the second. Compute z values for each and comment on your findings. 2. The mean of a normal distribution is 400 pounds. The standard deviation is 10 pounds. a. What is the area between 415 pounds and the mean? b. What is the area between the mean and 395 pounds? c. What is the probability of selecting a value at random and discovering that it has a value of less than 395 pounds? 3. The monthly sales of mufflers in the Richmond, VA area follow the normal distribution with a mean of 1200 and a standard deviation of 225. The manufacturer would like to establish inventory levels such that there is only a 5% chance of running out of stock. Where should the manufacturer set the inventory levels? 4. Research on new juvenile delinquents revealed that 38% of them committed another crime. a. What is the probability that of the last 100 new juvenile delinquents put on probation, 30 or more will commit another crime? b. What is the probability that 40 or fewer of the delinquents will commit another crime? c. What is the probability that between 30 and 40 of the......

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...References Agresti, Alan (1996).Introduction to categorical data analysis. NY: John Wiley and Sons. Ahmed, N. (1976); Development Agriculture of Bangladesh. Dhaka, Bangladesh Books of International Ltd. BANBEIS (1998); Bangladesh Education Statistics (At a glance), Bangladesh Bureau of Statistics. BBS, 2003: Report of the household expenditure survey 2000, Statistical Division, Ministry of Planning, Government of Bangladesh, Dhaka. BBS (2002); Statistical Year book of Bangladesh, 2001, Dhaka. Bunce, L. and R. Pomeroy. 2003. Socioeconomic Monitoring Guidelines for Coastal Managers in the Caribbean: SocMon Caribbean. GCRMN. Bunce, L., P. Townsley, R. Pomeroy, and R. Caribbean. GCRMN. Bunce, L., P. Townsley, R. Pomeroy, and R. Pollnac. 2000. Chandra KJ. Fish parasitological studies in Bangladesh: A Review. J Agric Rural Dev. 2006; 4: 9-18. Cochran, W.G. (1977); Sampling Techniques, 3rded. New Delhi: Wiley Eastern. Davis, James A. (1971). Elementary survey analysis. Des Raj (1971); Sampling Theory. Fox, J. 1984: Linear Statistical Models and Ravallion, M. and B. Sen 1996: When Method Matters: Monitoring Poverty in Bangladesh, Economic Development and Cultural Change, 44: 761-792 Gujarati, Damodar.N; Basic Econometrics. 4TH edition; Mcgraw-Hill. Gupta, S.C., Kapoor; Fundamental of Mathematical Statistics. New Delhi. Heyman, W. and R. Graham (eds.). 2000. The voice of the fishermen of Southern Belize, Toledo Institute for......

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...MA260 statistical analysis 1 Click Link Below To Buy: http://hwcampus.com/shop/ma260-statistical-analysis-1/ 1. A recent article in the Myrtle Beach Sun Times reported that the mean labor cost to repair a color television is $90 with a standard deviation of $22. Monte’s TV Sales and Service completed repairs on two sets this morning. The labor cost for the first was $75 and it was $100 for the second. Compute z values for each and comment on your findings. 2. The mean of a normal distribution is 400 pounds. The standard deviation is 10 pounds. a. What is the area between 415 pounds and the mean? b. What is the area between the mean and 395 pounds? c. What is the probability of selecting a value at random and discovering that it has a value of less than 395 pounds? 3. The monthly sales of mufflers in the Richmond, VA area follow the normal distribution with a mean of 1200 and a standard deviation of 225. The manufacturer would like to establish inventory levels such that there is only a 5% chance of running out of stock. Where should the manufacturer set the inventory levels? 4. Research on new juvenile delinquents revealed that 38% of them committed another crime. a. What is the probability that of the last 100 new juvenile delinquents put on probation, 30 or more will commit another crime? b. What is the probability that 40 or fewer of the delinquents will commit another crime? c. What is the probability that between 30 and 40 of the......

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...Professor Vaccaro MBAMS 630 – STATISTICAL ANALYSIS FOR MANAGERS SUMMER SESSION - I , 5th EXAMINATION ( Chapter 13 ) – Part I NAME ___Due Thursday, July 14th, 2016 MULTIPLE CHOICE : ( select the most correct response ) 1. The Y-intercept ( bo ) represents the: a. estimated average Y when X = 0. b. change in estimated average Y per unit change in X. c. predicted value of Y. d. variation around the sample regression line. 2. The slope ( b1 ) represents: a. predicted value of Y when X = 0. b. the estimated average change in Y per unit change in X. c. the predicted value of Y. d. variation around the line of regression. 3. The least squares method minimizes which of the following? a. SSR b. SSE c. SST d. all of the above A candy bar manufacturer is interested in trying to estimate how sales are influenced by the price of its product. To do this, the firm randomly chooses six (6) small cities and offers the candy bar at different prices. Using candy bar sales as the dependent variable, the company will construct a simple linear regression on the data below: City Price ($) Sales River Falls 1.30 100 Hudson 1.60 90 ...

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