analysis significance and decision making

... accessible website, in whole or in Business Analytics: Data Analysis and Chapter Decision Making Introduction to Data Analysis and Decision Making Introduction (slide of 2)  Living in the age of ... Data analysis? ??includes data description, data inference, and the search for relationships in data  Decision making? ??includes optimization techniques for problems with no uncertainty, decision analysis ... separate fields: statistics and management science  Statistics is the study of data analysis  Management science is the study of model building, optimization, and decision making  Three important

Ngày tải lên: 10/08/2017, 10:35

... analysis: Recognize a problem that needs to be solved Gather data to help understand and then solve the problem Analyze the data Act on this analysis  It is up to you to ask good questions? ?and ... posted to a publicly accessible website, in whole or in Business Analytics: Data Analysis and Chapter Decision Making Describing the Distribution of a Single Variable Introduction (slide of 2) ... violent and property crimes for the years 1960 to 2010  In StatTools, designate a StatTools data set  Then select Times Series Graph from the Time Series and Forecasting dropdown list and fill

Ngày tải lên: 10/08/2017, 10:35

... whole or in Business Analytics: Data Analysis and Chapter Decision Making Finding Relationships among Variables Introduction  The primary interest in data analysis is usually in relationships ... smoking and drinking  Solution: Data set lists the smoking and drinking habits of 8761 adults  Categories have been coded “N,” “O,” “H,” “S,” and “D” for “Non,” “Occasional,” “Heavy,” “Smoker,” and ... Excel and use the COUNTIFS function to fill the table with counts of joint categories  Next, sum across rows and down columns to get totals  Then express the counts as percentages of row and

Ngày tải lên: 10/08/2017, 10:35

... a publicly accessible website, in whole or in Business Analytics: Data Analysis and Chapter Decision Making Probability and Probability Distributions Introduction (slide of 3)  A key aspect ... Random numbers generated with Excel’s RAND function are said to be uniformly distributed between and because all decimal values between and are equally likely  These uniformly distributed random ... different bottom-line results  The key to simulating random variables is Excel’s RAND function, which generates a random number between and  It has no arguments, so it is always entered: © 2015

Ngày tải lên: 10/08/2017, 10:35

... publicly accessible website, in whole or in Business Analytics: Data Analysis and Chapter Decision Making Normal, Binomial, Poisson, and Exponential Distributions Introduction  Several specific distributions ... in part Standardizing: Z-Values  The standard normal distribution has mean and standard deviation 1, so it is denoted by N(0,1)  It is also referred to as the Z distribution  To standardize ... mean and standard deviation of each annual return and then use the standardizing formula to calculate the corresponding Zvalue  OR calculate the Z-values directly, using Excel’s STANDARDIZE function

Ngày tải lên: 10/08/2017, 10:35

... whole or in Business Analytics: Data Analysis and Chapter Decision Making Decision Making under Uncertainty Introduction  A formal framework for analyzing decision problems that involve uncertainty ... choosing among alternative decisions  How probabilities are used in the decision- making process  How early decisions affect decisions made at a later stage  How a decision maker can quantify ... affect the analysis  A powerful graphical tool—a decision tree—guides the analysis  A decision tree enables a decision maker to view all important aspects of the problem at once: the decision

Ngày tải lên: 10/08/2017, 10:35

... to a publicly accessible website, in whole or in Business Analytics: Data Analysis and Chapter Decision Making Sampling and Sampling Distributions Introduction  In a typical statistical inference ... simple random sample of size 10 from this frame  To this, first generate a column of random numbers in column F using the RAND function  Then, sort the rows according to the random numbers and ... population distribution with mean μ and standard deviation σ, the sampling distribution of the sample mean X is approximately normal with mean μ and standard deviation σ/√n, and the approximation improves

Ngày tải lên: 10/08/2017, 10:35

... Analysis and Chapter Decision Making Confidence Interval Estimation Introduction  Statistical inferences are always based on an underlying probability model, which means that some type of random ... confidence interval for the mean difference between husbands’ and wives’ ratings of sales presentations  Solution: A random sample of husbands and wives are asked (separately) to rate the sales presentation ... mean satisfaction rating of the new sandwich  Solution: A random sample of 40 customers who ordered a new sandwich were surveyed Each was asked to rate the sandwich on a scale of to 10  The results

Ngày tải lên: 10/08/2017, 10:35

... whole or in Business Analytics: Data Analysis and Chapter Decision Making Hypothesis Testing Introduction  In hypothesis testing, an analyst collects sample data and checks whether the data provide ... conservative decision making © 2015 Cengage Learning All Rights Reserved May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part Significance Level and ... to know whether the demands for Windows and Mac laptops are related in any way  Big Office has daily information on categories of demand for 250 days, with each day’s demand for each type of computer

Ngày tải lên: 10/08/2017, 10:35

... whole or in Business Analytics: Data Analysis and Chapter Decision Making 10 Regression Analysis: Estimating Relationships Introduction (slide of 2)  Regression analysis is the study of relationships ... relationships between variables  There are two potential objectives of regression analysis: to understand how the world operates and to make predictions  Two basic types of data are analyzed:  Cross-sectional ... is a nonlinear function of demand, and if it is, what form the nonlinearity takes  Solution: The data set lists the number of units of electricity produced (Units) and the total cost of producing

Ngày tải lên: 10/08/2017, 10:35

... a publicly accessible website, in whole or in Business Analytics: Data Analysis and Chapter Decision Making 11 Regression Analysis: Statistical Inference Introduction  Two basic problems are ... predictions, calculate standard errors of prediction  Standard error of prediction for a single Y:  This error is approximately equal to the standard error of estimate  Standard error of prediction ... These standard errors can be used to calculate a 95% prediction interval for an individual value and a 95% confidence interval for a mean value  Go out a t-multiple of the relevant standard error

Ngày tải lên: 10/08/2017, 10:35

... Business Analytics: Data Analysis and Chapter Decision Making 12 Time Series Analysis and Forecasting Introduction  Forecasting is a very difficult task, both in the short run and in the long run ... difficult to separate the noise, or random behavior, from the underlying patterns  Some forecasts may attribute importance to patterns that are in fact random variations and are unlikely to repeat themselves ... reference quarter) and estimate the additive equation:  Then the coefficients of the dummy variables, b1, b2, and b3, indicate how much each quarter differs from the reference quarter, and the coefficient

Ngày tải lên: 10/08/2017, 10:35

... Estate Investment Data Analysis and Decision Making Private Real Estate Investment Data Analysis and Decision Making Roger J Brown, PhD Director of Research Real Estate and Land Use Institute San ... decision- making for consumers and researchers in market economies of any country interested in land use and real estate investment Empirical risk analysis improves the understanding of markets in general ... under the wise guidance of Bob Wilbur, Andy Do, and Milton Chen In 1995 these fine academics breathed a sigh of relief and handed me off to Professors Ken Lusht and Jeff Sharp at Penn State, two superb...

Ngày tải lên: 01/06/2014, 11:30

... Estate Investment Data Analysis and Decision Making Private Real Estate Investment Data Analysis and Decision Making Roger J Brown, PhD Director of Research Real Estate and Land Use Institute San ... decision- making for consumers and researchers in market economies of any country interested in land use and real estate investment Empirical risk analysis improves the understanding of markets in general ... under the wise guidance of Bob Wilbur, Andy Do, and Milton Chen In 1995 these fine academics breathed a sigh of relief and handed me off to Professors Ken Lusht and Jeff Sharp at Penn State, two superb...

Ngày tải lên: 20/06/2014, 18:20

... the location decision through data REFERENCES Alonzo, W Location and Land Use Cambridge, MA: Harvard University Press Geltner, D M., & Miller, N G Commercial Real Estate Analysis and Investments ... not thousands, of examples from the residential field to draw from Rather than take one of those and its somewhat straightforward Land Use Regulation 23 analysis, the setting for the analysis ... Behavior and Institutions, p 62 INTRODUCTION Chapter dealt with how market participants make land use decisions in their own best interests based solely on a combination of revenues and costs...

Ngày tải lên: 20/06/2014, 18:20

... rates, and land assessments are handed down by government Taking the relevant data from Table 4-1, in Equation (4-4) we reproduce Equation (4-3), providing fixed values for tax rates and land assessments, ... equations in component parts and looking at dependencies Symbolic analysis is rather sterile and too abstract for some Let’s combine this approach with the sample project and see how it may be applied ... buildings between and 100 units covering the period from July 1987 through September 2001 Prices and dates of purchase and sale for each building are shown along with the location and number of units...

Ngày tải lên: 20/06/2014, 18:20

... constant and/ or adding a constant merely rescales and re-centers the distribution This is how a normal distribution is ‘‘standardized’’ into ‘‘standard normal,’’ where the mean is zero and the ... standard error, sum of squared error, and mean squared error are all zero, and confidence intervals occupy zero space All of these are expected in that rare case where one variable completely and ... the probabilities and adding up the products as we did in Tables 5-2 and 5-3 For continuous variables, the expectation is the mean Having the pdf we can plot this function and its mean in Figure...

Ngày tải lên: 20/06/2014, 18:20

... self-management and disaster Perhaps there is, and perhaps data can assist The key is to manage the manager The owner must institute supervision policies to keep the manager alert and aware of his duties and ... (ltv), debt coverage ratio (dcr), and capitalization rate  Explore how data on capitalization rate trends can guide lenders and borrowers to better decisions LENDERS AND THEIR RULES The lender influences ... The decision to grant the loan, how much loan to offer, and the terms of the loan are all dependent on this appraisal Appraisal standards have evolved over many years To provide background and...

Ngày tải lên: 20/06/2014, 18:20

... Acquisition standards and criteria for Tier I and Tier III properties differ as much as the participants in these two markets The level of due diligence, analysis techniques, appraisal standards, and negotiating ... lender’s and the buyer’s perspective earlier Then the borrower was negotiating with the lender to allow an underwriting restriction to vary in order to improve both parties’ analysis and decision making ... investment decisions An interesting empirical question might ask if there is a relationship between the top of the market and a time when rules of thumb dominate appraisal and acquisition standards...

Ngày tải lên: 20/06/2014, 18:20

... the location decision through data REFERENCES Alonzo, W Location and Land Use Cambridge, MA: Harvard University Press Geltner, D M., & Miller, N G Commercial Real Estate Analysis and Investments ... not thousands, of examples from the residential field to draw from Rather than take one of those and its somewhat straightforward Land Use Regulation 23 analysis, the setting for the analysis ... run Land users and policymakers must strike a balance between the competing interests represented in the private economic market Land Use Regulation 37 and the market for public services and lifestyle...

Ngày tải lên: 20/06/2014, 20:20