BUSI410_NOV24

BUSI410_NOV24 - BUSI410 BusinessAnalyticalApplications

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BUSI 410 Business Analytical Applications Tuesday, November 24, 2009 1
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Today’s Handouts ü   Slides §   No lab practice due next Tuesday §   Final quiz on December 14, 8-11 am, in  Koury auditorium §   No power outlets available in Koury, but you  won’t need your laptop for the quiz. BUSI 410 S-2
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Categorical data and indicator variables Categorical Variables Variables of interest like Gender, Color, Race, Marital Status Q: How do we assign numerical values to categorical data? Use dummy or indicator variables. Dummy variable (a.k.a. Indicator, Binary, Categorical, 0-1) -A 0-1 variable that indicates the presence or absence of an attribute -Numerical value indicates whether the observation has the attribute or not. Example: Two categories (1) UNC fan vs. Not a UNC fan. Example: Two categories (2) Male vs. Female 3
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Applications of Indicator Variables Differences between different population segments, e.g., Males vs. Females Customer preferences, e.g., conjoint analysis of Hot Chocolate Seasonality, e.g., Tyson’s forecast 4
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Case Study:  Triangle Construction Company S-5
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Triangle Construction Company What do the activists claim? Is that true? How can we find out? Female employees are paid lower wages than their male colleagues. In-Class Run a two-sample t-test. S-6
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Triangle Construction Company Q: Are you suggesting that men make significantly more than women? In-Class A: Yes, but that’s not the whole truth! TTEST(C4:C23,C24:C53,1,2) = 0.00004 S-7
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Triangle Construction Company What does the company claim in response? Is that true? How can we find out? Female employees have less years of experience than their male colleagues. In-Class Run a two-sample t-test. S-8
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Triangle Construction Company Q: Are you suggesting that men have significantly more experience than women? In-Class A: Yes, but does this explain everything? TTEST(B4:B23,B24:B53,1,2) = 0.00715 S-9
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Triangle Construction Company What kind of information do we need to present to prove that the company is discriminating? Need to show that the years of experience are not valued the same
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BUSI410_NOV24 - BUSI410 BusinessAnalyticalApplications

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