Required You are to evaluate the performance of the Notre Dame Women's basketball team in the championship game versus Baylor. In particular, address each of the following:
1. Calculate the SMV, SQV, MSV, and MShV for Notre Dame indicating whether each is favorable or unfavorable. Provide any supporting calculations you must make, and clearly organize your work in accordance with the illustration in Figure 1.
2. Relate the results of each variance to Notre Dame's performance in the championship game. Note the key components that lead to a favorable or unfavorable variance.
3. Pull any data that might explain how the favorable or unfavorable variances manifested in game 6. For example, you might use shot accuracy, rebounds (offensive and defensive), blocks, and steals.
4. Compare and contrast the variances of the Notre Dame analysis with those of the Lady Aggies. The outcomes of their championship games were different. Are the variances for each team indicative of these distinct outcomes?
5. Come up with your own unique scenario for variance analysis! Explore something outside of the business setting. Explain how each variance arises and is operationalized in the context of whatever setting you choose.