DQ1 Please define business analytics, discuss its evolution, and explore its scope in terms of interpreting
results and making a decision in an industry of interest to you. Do not use the industry where you
currently (or have previously) worked, to avoid
Part I: Complete Chapter 1 Problems and Exercises #9, p. 31.
Balance = - 17,732 + 367 X age + 1,300 X yrs education + .116 X wealth
Intercept: The expected balance when all other variables equal zero
beta 1: Balance is expected to increase by $367
1) A manager at Gampco Inc. wishes to know the company's revenue and profit in its previous quarter. Which
of the following business analytics will help the manager?
A) prescriptive analytics
B) normative analytics
C) descriptive analytics
D) predictive a
A retailer believes that its new advertising strategy will increase sales. Previously, the mean spending in 15 catego
a. Formulate a hypothesis test to determine if the mean spending in these categories has statistically increased.
H0 < $70.00
a. Interpret all key regression results, hypothesis test, and confidence intervals.
As illustrated in Figure 1:
Intercept: Wedding cost is expected the $480.42 when the couples income is zero.
Couples Income Coefficient: Wedding cost i
Internet Usage: 2009
US Census Bureau
No Internet Internet
55 and older
Educational attainment of individuals 25 years and older
Less than high school
Bachelor's degree or higher
CompleteChapter5Problem and Exercise10,page174,2nded
Many commercial software packages can be used
for Business Analytics.
Spreadsheet software, such as Microsoft Excel, is
widely available and used across all areas of
Spreadsheets provide a