Complete Solutions Manual for Business Analytics, 5th Edition by Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann ; ISBN13: 9780357902202. (Full Chapters included Chapter 1 to 17). Excel solutions included...
1. Introduction.
2. Descriptive Statistics.
3. Data Visualization....
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JEFFREY D. CAMM, JAMES J. COCHRAN, MICHAEL J. FRY, JEFFREY W. OHLMANN, BUSINESS
ANALYTICS, 2024, 9780357902202; CHAPTER 1: INTRODUCTION TO BUSINESS ANALYTICS
TABLE OF CONTENTS
Problems ............................................................. 1
PROBLEMS
1. Quality versus Low Cost. Car manufacturer Lexus competes in the luxury
car category and is known for its quality. The decision to compete on
quality rather than low cost is an example of what type of decision:
strategic, tactical, or operational? Explain. LO 1
Solution
Because it concerns the overall direction of the company, the decision
to be a luxury brand is a strategic decision. Tactical and operational
decisions should support this strategic decision. For example, using
only the highest quality materials would be a tactical decision that
supports a luxury brand. An example of an operational decision would be
to always offer a free loaner car when the car is serviced.
2. Package Delivery. Every day, logistics companies like United Parcel
Service (UPS) must decide how to route their trucks, that is, the order
in which to deliver the packages that have been loaded on a truck. UPS
developed a system called On-Road Integrated Optimization and
Navigation (ORION) which dynamically routes its trucks based on
packages on the truck and traffic conditions. It is estimated that
ORION saves UPS about 10 million gallons of fuel per year. Is the
decision of how to route a ruck a strategic, tactical, or operational
decision? Explain. LO 1
Solution
Because how to route a truck depends on the packages that need to be
delivered that day, the decision of how to route a truck is an
operational decision.
3. Airline Decisions. JetBlue is a major U.S. airline that ranked seventh
in the United States in 2021 based on number of passengers carried.
JetBlue has 270 aircraft and services 104 destinations. Consider three
decisions below that an airline like JetBlue must make. For each
decision, tell if it is strategic, tactical, or operational and
explain. LO 1
a. Which crew should be assigned to a given flight?
b. Should we compete on low cost or quality?
c. What type of aircraft should we purchase?
, Solution
a. Which crew should be assigned to a given flight is a decision that
needs to be made daily, so it is an operational decision.
b. To compete on low cost versus quality sets the direction of the
airline, so it is s strategic decision.
c. The type of aircraft to purchase is not a daily decision, but one
that does concern how the airline will achieve its strategy. So, the
type of aircraft to purchase is a tactical decision. For example, a
low-cost strategy might be best supported tactically by purchasing
planes that have no first-class seats.
4. Choosing A College. Millions of high school graduates decide annually
to enroll in a college or university. Many factors can influence a
student’s choice of where to enroll. List the five steps of the
decision-making process and discuss each step of the process, where the
decision to be made is choosing which college to attend. LO 2
Solution
1. Identify and define the problem. Choosing where to enroll, given the
set of schools to which the student gained admission, is the
decision to be made.
2. Determine the criteria that will be used to evaluate alternative
solutions. Criteria to be considered might include, cost, amount of
financial aid received, location, and academic reputation of the
school.
3. Determine the set of alternative solutions. The set of alternative
solutions from which to choose is the set of colleges and
universities that granted the student admission.
4. Evaluate the alternatives. Using the importance the student places
on each of the factors listed in step 2, evaluate each offer of
admission.
5. Choose an alternative. Based on the evaluation in step 4, the
student can rank order the schools offering admission, trade off the
pros and cons for each school for each factor, and choose to enroll
in the school ranked number one.
5. Package Delivery (Revisited). Consider again the ORION system discussed
in problem 2. Is ORION an example of descriptive, predictive, or
prescriptive analytics? Explain.
LO 3
Solution
ORION provides a course of action (the route to the next delivery
spot), so it is an example of prescriptive analytics.
6. Quality Control for Boxes of Cereal. A control chart is a graphical
tool to help determine if a process is in control or out of control.
The following figure shows a control chart for a production line that
fills boxes of cereal. Based on past data, we can calculate the mean
weight of a box of cereal when the process is in control. The mean
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