Individual Assignment – Regression Case

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Individual Assignment – Regression Case

 

The risk manager for Big Mac is undertaking a comprehensive analysis of the workers’ compensation injury claims for the firm’s U.S. operations. She has collected monthly data over the last three years with regard to workers’ compensation claims and several other items that she feels may be helpful in predicting future claims.

 

You are a consultant with a risk management consulting firm specializing in detailed quantitative analysis of problems facing corporate risk managers. Your firm has been retained by Big Mac to perform a comprehensive regression analysis of its workers’ compensation claims.

The data provided to you by Big Mac consists of the following information stored in the file data.XLS.

 

Variable Name Description of Variable

 

CLAIMS The number of workers’ compensation injury claims.

 

MALE The proportion of the work force that is male.

 

SAFETY The dollar amount of expenditures on safety programs in thousands.

 

SALES The dollar amount of gross sales in millions.

 

PARTTM The proportion of the work force that is part-time.

 

EMPLOYS The number of employees in thousands.

 

Before you start, please make sure you understand the underlying analytical techniques that you are using (regression analysis). In your written report, please address all of the following points and/or recommendations to the risk manager at Big Mac:

 

1. Before looking at the data, please use intuition to describe each variable’s probable predictive power and direction of relationship with CLAIMS.

 

2. Calculate and analyze the correlation matrix. Explain some of the more significant correlations between the independent variables and CLAIMS, as well as between the independent variables themselves. Please make sure to include in your report the correlation

table you obtain from Excel.

 

3. Perform a comprehensive regression analysis for CLAIMS. This includes calculation and analysis of coefficients, p-values (or t-values), coefficients of determination (R2), etc. Please make sure to include in your report the regression output from Excel including the following: Regression Statistics including R Square, Adjusted R Square, Standard Errors; as well as coefficient, standard error, p-value and t stat for all explanatory/independent variables.

 

4. Identify and describe the model (i.e., which independent variables should be included – a hint here, not all variables are necessarily needed, pending on statistical significance) that you feel best predicts CLAIMS. Justify the selection of this model from both conceptual and statistical viewpoints. This includes a statement of the identified model that a “non-statistician” could understand.

 

5. Is there an alternative model that is almost as good as your first choice as identified in your answer to number 4? If so, describe it.

 

 

6. State several managerial recommendations that you would make based on the model identified in number 4.

 

 

reply another student

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Reply to a classmate regarding post 1; be sure to offer a new quote or idea to keep the conversation flowing! Be sure to quote, cite, and reference from the text(s) using appropriate APA format. Your post must be at least 150 words.

Robert Hayden carries his experiences through his poems. Three of his poems that show these experiences are, “Middle Passage”, “Homage to the Empress of the Blues.” And “Those Winter Sundays.” Hayden talks about what it was like first hand on a ship as a slave. He talks about how the men around him went crazy. He says,” That there were hardly room ‘tween-decks for half the sweltering cattle stowed spoon-fashioned there; that some went mad of thirst and tore their flesh and successful the blood.” (Hayden, R. 2013/1962 p. 2372). He also talked about what it was like being on the “voyage of death”. The way Hayden words his poems are powerful, it really give you a detailed mental image. “A charnel stench, effluvium of living death, spreads outwards from the hold, where the living and the dead, the horribly dying, lie interlocked, lie foul with blood and excrement.” (Hayden, R. 2013/1962 p.2375). In his poem, “Homage to the empress of the Blues”, he is comparing his pain and suffering to a dance. “Because Grey laths began somewhere to show from underneath torn hurdygurdy lithographs of doll faced heavens…” (Hayden, R. 2013/1962 p.2377). As for the poem, “Those Winter Sundays”, he reflects on the Sunday mornings when he was younger. The poem showed what has been lost in African-American experience. The poem started out as a pleasant memory but quickly turned sour. The father worked hard for his family but felt like everyone was ungrateful. “Speaking in differently to him, who had driven out the cold and polished my good shoes as well…” (Hayden, R. 2013/1962 p. 2377.)

Reference:

Hayden, R (1962). Middle Passage. Homage to the Empress of the Blues. Those Winter Sundays. In N. Baym, W. Franklin, P.F. Gura, J. Klinkowitz, A. Krupat, R.S. Levine, M. Loeffelholz, J.C. Reeseman, & P.B. Wallace (Eds.), The Norton anthology of American literature (Shorter 8th ed.) New York, NY: Norton.

Reply to a classmate regarding post 3; be sure to offer a new quote or idea to keep the conversation flowing! Be sure to quote, cite, and reference from the text(s) using appropriate APA format. Your post must be at least 150 words.

Art Spiegelman shows how deep and delicate his work is which in all we expect from his long established novels and as well as his expanded nonfictional text in his novel “Maus”. In Spiegelman story  “Maus” he illustrates the true events throughout the story. The graphic novel “Maus” is a exceptional nonfiction work about the history on Jews. Maus is a story about a Jewish woman and man in Germany from the start of the Holocaust. Both the woman and man are trying there best to stay away from any harmful situations and to not to be seen or confronted by anyone they may know. The couple, the man and woman start to go from house to house trying to stay hidden and sheltered while still trying to find a way out. Finally one of the houses they had sheltered them told them that it was safe in Hungary, she did so by telling the couple “two people I know smuggled them into Hungary. I heard he and his boy were doing well” (Spiegelman, 1986/2013, pg. 2749). As time went on it was not what you could call a safe zone  for “Thousands-  Hundreds of Jews… So many it wasn’t even room enough to bury them all in the ovens”  (Spiegelman, 1986/2013, pg. 2749). As Spiegelman goes on with the story he does magnificent job making his novel a graphic novel with the imagery he uses. As he goes on in the story he makes you feel as if your there while the Holocaust is going on and you see the terror that is occurring.

Spiegelman, A. (1986). Maus. In N. Baym, W. Franklin, P.F. Gura, J. Klinkowitz, A. Krupat, R.S. Levine, M. Loeffelholz, J. C. Reesman, & P.B. Wallace (Eds.), The Norton anthology of American literature (Shorter 8th ed.) (pp. 2372-2377). New York, NY: Norton. (Original work published 1916).

Assignment 4

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Homework Assignment 4

 

Discuss one (1) project where you used a problem-solving approach to address what turned out to be common-cause variation, or where you used a process improvement approach to deal with a special cause.

 

If you do not have a personal experience that echoes either of these situations, you may use Internet to search for a case that reflects either of these situations.

 

Examples:

 

·         one’s personal investment strategy since 2008

 

·         reducing waiting times at the local hospital or emergency room

 

·         reducing difficulties trying to connect to a Wi-Fi Internet provider

 

 

 

Answer the following questions in the space provided below:

 

1.     Describe the experience in the project.

 

2.     What were the solutions used to address the problem?

 

3.     Was the case you described a special-cause or common-cause?

 

4.     Do you feel the solution or approach used appropriate for the cause?

 

5.     What would you do if you could do it again?

 

6.     What conclusions can you draw from the problem-solving or process-improvement techniques?

 

Note: You may create and / or make all necessary assumptions needed for the completion of this assignment. In your original work, you may use aspects of existing processes from either your current or a former place of employment. However, you must remove any and all identifying information that would enable someone to discern the organization(s) that you have used.

 

 

A serial killer that served as the inspiration to nurous films

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Question 7

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A recent article in USA today reported that a job awaits only 1 in 3 (33.3%) new college graduates. The major reasons given were an overabundance of college graduates and a weak economy. A survey of 200 recent graduates from your school revealed that 80 students had jobs. At a .05 significance level, can we conclude that a larger proportion of students at your school have jobs?

 

What is the null hypothesis for this hypothesis test?

 

a The number of students that had jobs is less than 33.3% b The number of students that had jobs is more than 33.3% c The number of students that had jobs is less than or equal to 33.3%. d The number of students that had jobs is more than or equal to 33.3% e The number of students that had jobs is not equal to 33.3%

 

Enter the correct answer by selecting the appropriate letter without a decimal point.

 

___c___

 

What is the alternate hypothesis for this hypothesis test?

 

a The number of students that had jobs is less than 33.3% b The number of students that had jobs is more than 33.3% c The number of students that had jobs is less than or equal to 33.3%. d The number of students that had jobs is more than or equal to 33.3% e The number of students that had jobs is not equal to 33.3%

 

Enter the correct answer by selecting the appropriate letter without a decimal point.

 

___b___

 

What is the significance level of the test?

 

Enter answer as a 2 place decimal with a 0 entered to the left of the decimal point. Do not enter answer as a percent.

 

___0.05___

 

What is the appropriate distribution to use to answer the question?

 

a Uniform Distribution b Normal Distribution c t Distribution d Chi Square Distribution e F Distribution

 

Enter the correct answer by selecting the appropriate letter without a decimal point.

 

___b___

 

What is the numerical value of the test statistic? Enter answer as a decimal rounded to 1 or less places (1 place or an integer which ever is appropriate)?

 

___2.1___

 

What is the numerical value of the Pvalue?

 

Enter answer rounded to 2 places with a zero to the left of the decimal place. Do not enter answer as a percent.

 

___0.40__

 

What is the Pvalue Decision Rule?

 

a. The data supports the alternate hypothesis if the Pvalue is greater than the significant level of the test. b. The data supports the alternate hypothesis if the Pvalue is less than or equal to the significant level of the test. c. The data supports the alternate hypothesis if the Pvalue equals the significant level of the test. d. The data supports the alternate hypothesis if the Pvalue does not equal the significant level of the test.

 

Select the correct answer and enter the appropriate letter without a decimal point.

 

___A__

 

What is the appropriate decision based upon your analyses of the data? Enter the correct answer by selecting the appropriate letter without a decimal point.

 

a There is sufficient evidence reject the null hypothesis. b There is insufficient evidence to reject the null hypothesis. c There is insufficient evidence to make a decision based upon the data.

 

Enter the correct answer by selecting the appropriate letter without a decimal point.

MAT222 Week 1 Assignment

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Read the following instructions to complete this assignment:

  1. Solve problem 56 on page 437 of Elementary and Intermediate Algebra. Set up the two ratios and write your equation, choosing an appropriate variable for the bear population.

  2. Complete problem 10 on page 444 of Elementary and Intermediate Algebra.

  3. Write a two- to three-page paper (not including the title page) that is formatted in APA style and according to the Math Writing Guide. Format your math work as shown in the example, and be concise in your reasoning. In the body of your essay, do the following:

    • Set up the proportion for problem 56 on page 437.

    • Demonstrate your solutions to problem 56 on page 437 and to problem 10 on page 444, making sure to include all mathematical work and an explanation for each step.

    • Identify the form of equation you end up with in problem 10, and explain the relationship between the final coefficient of x compared to the original problem.

    • Incorporate the following four math vocabulary words into your paper. Use bold font to emphasize the words in your writing. (Do not write definitions for the words; use them appropriately in sentences describing your math work.)
      • Extraneous
      • Proportion
      • Cross multiply
      • Extreme-means

Which allows you to search for the final boss fight

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statistics

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The standard deviation of test scores on a certain achievement test is

11.5

. A random sample of

50

scores on this test had a mean of

72.9

. Based on this sample, find a

99%

confidence interval for the true mean of all scores. Then complete the table below.

Carry your intermediate computations to at least three decimal places. Round your answers to one decimal place.

(If necessary, consult a list of formulas.)

 
 

What is the lower limit of the

99%

confidence interval?

 
What is the upper limit of the

99%

confidence interval?

 

 

Two-Sample Hypothesis Tests

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                                                                    Chapter 10

Two-Sample Hypothesis Tests

 

1) Discover Card would like to test the hypothesis that the average credit score for an adult in Dallas is different from the average credit score for an adult in Houston. A random sample of 40 adults in Dallas had an average credit score of 699 and a random sample of 35 adults in Houston had an average credit score of 682. It is believed that the population standard deviation for credit scores is 44 and 41 for Dallas and Houston residents, respectively. Discover Card would like to set α = 0.05. Define Population 1 as Dallas and Population 2 as Houston and use the critical value approach to test this hypothesis.

 

2) Auto Trader Group (ATG) would like to test the hypothesis that the average age of an imported car on the road is greater than the average age of a domestic car. The following data shows the sample size and the average age of cars for import and domestic cars along with the population standard deviations.

 

 

Domestic

Import

Sample mean

9.4 years

10.8 years

Sample size

33

36

Population standard deviation

3.2 years

2.8 years

 

Define Population 1 as import cars and Population 2 as domestic cars. Construct a 90% confidence interval for the difference in population mean and interpret the results.

 

3) Farmers Insurance Group would like to test the hypothesis that the average number of miles driven per month by a male driver exceeds the average number of miles driven per month by a female driver by more than 50 miles. The following data summarizes the sample statistics for the miles driven per month by each gender. Assume that the population variances are equal.

 

 

Male

Female

Sample mean

685

580

Sample size

13

16

Sample standard deviation

130

120

 

Define Population 1 as male drivers and Population 2 as female drivers and use the critical value approach to test this hypothesis with α = 0.05.

4) Holiday Inn Express has developed a training program for its hotel staff in an effort to increase customer satisfaction. The employees at the Philadelphia Midtown location completed the training while the employees at the Philadelphia E Penns Landing location did not. Holiday Inn Express would like to test the hypothesis that the average customer satisfaction score at the Midtown location is higher than the average satisfaction score at the E Penns Landing location. The following data summarizes the sample statistics for customer satisfaction, on a scale of 1 to 100, for each location. Assume that the population variances are unequal.

 

 

Midtown

E Penns Landing

Sample mean

82.6

78.3

Sample size

25

20

Sample standard deviation

5.0

6.0

 

Define Population 1 as the Midtown location and Population 2 as E Penns Landing location and use the critical value approach to test this hypothesis with α = 0.01.

 

 

Question Completion Status: QUESTION 1 1. The ____________________ is a type of financial statement that indicates the worth or financial condition of a business as of a certain date. income statement ratio statement balance sheet vertical analy

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  Question Completion Status:

QUESTION 1

1.The ____________________ is a type of financial statement that indicates the worth or financial condition of a business as of a certain date.

income statement

ratio statement

balance sheet

vertical analysis

10 points   

QUESTION 2

1._________ assets are assets that are normally turned into cash within a year.

Liquid

Nonliquid

Current

Historical

10 points   

QUESTION 3

1._______ and _________ are assets that are used in transacting business and are more long term in nature.

Plant and equipment

Accounts and receivables

Notes and cash

Merchandise and inventory

10 points   

QUESTION 4

1.___________ are amounts that the business owes.

Assets

Liabilities

Receivables

Inventories

10 points   

QUESTION 5

1.Capital, proprietorship, and net worth are all terms that refer to owner’s _______.

liabilities

debts

equity

cash

10 points   

QUESTION 6

1.A __________ analysis of a balance sheet shows the ratio of each item on the balance sheet to the total assets.

horizontal

current

wage

vertical

10 points   

QUESTION 7

1.A(n) ___________ analysis compares the same item for two different years.

vertical

current

horizontal

inventory

10 points   

QUESTION 8

1.The ___________ statement shows the net income of a business over a period of years.

income

expenditure

liability

loss

10 points   

QUESTION 9

1.______ sales is the difference between the total sales and sales returns or allowances.

Gross

Surplus

Discounted

Net

10 points   

QUESTION 10

1.________ profit is the difference between the net sales and the cost of goods sold.

Net

Surplus

Gross

Incidental