1. Consider the following: How is data analytics different from

1. Consider the following:

  • How is data analytics different from statistics? 
  • What are the main differences between descriptive,      predictive, and prescriptive analytics tools?
  • How do businesses use analytics to convert raw      operational data into actionable information?

Reflect on the following in a minimum of 500 words.

Think about the organization you work for (or any other organization you are familiar with). Does the organization use data analytics? 

  • If so, how is it used? How can the organization improve      the way it uses data analytics? What opportunities is the organization      missing out on?
  • If not, how could data analytics be used to improve the      organizations performance?

2. Consider the following:

Many business activities generate data that can be thought of as random. An example described in the textbook is the servicing of cars at an oil change shop. Each car entering the shop can be considered an experiment with random outcomes. A variable of interest in this experiment could be the amount of time necessary to service the car. Service time will vary randomly with each car. Often, we can capture the most relevant characteristics of a stochastic process with a simple probability distribution model. We can then analyze the model to make predictions and drive decisions. For instance, we could estimate the number of technicians the oil change shop needs to service demand on a Saturday afternoon.

Respond to the following questions:

  • What      is a random variable? 
  • How      would you differentiate a discrete from a continuous random variable?

A laptop manufacturing company has implemented a 2-step process to test the quality of each production batch. In the first step, a technician randomly selects 15 laptops from the batch and determines whether they meet specifications. The batch is considered acceptable provided no more than 1 laptop fails to meet specifications. Otherwise, the entire batch has to be tested in the second step. Historical data shows that 95% of the laptops produced adhere to specifications.

Reflect on the following in a minimum of 500 words:

  • What      are the 4 characteristics of a binomial experiment?
  • Can      we use a binomial distribution to model this process?
  • What      is the probability that the entire batch unnecessarily has to be tested if      in fact 95% of its laptops conform to specifications? (Hint: Use Excels      =BINOMDIST() function to find the probability)
  • What      is the probability that the batch is incorrectly accepted if only 75% of      its laptops actually conform to specifications?
  • What      situations in your organization might this type of analysis apply to?      Explain.

Share This Post

Email
WhatsApp
Facebook
Twitter
LinkedIn
Pinterest
Reddit

Order a Similar Paper and get 15% Discount on your First Order

Related Questions

Pick one of the topics to write a 6 page

  Pick one of the topics to write a 6 page paper on. Please use citations and quotes mentioned in the topic you chose (An Outline of the history of Economic Thought by Screpanti or The Clash of Economic Ideas by White). 1. Screpanti/Zamagni in chapter 12 provide a host

The term “knowledge worker” was first coined by management consultant

  The term “knowledge worker” was first coined by management consultant and author Peter Drucker in his book, The Landmarks of Tomorrow (1959). Drucker defined knowledge workers as high-level workers who apply theoretical and analytical knowledge, acquired through formal training, to develop products and services. Does this sound familiar? Nurses are very

Create a professional presentation of your evidence-based intervention and change

Create a professional presentation of your evidence-based intervention and change proposal to be disseminated to an interprofessional audience of leaders and stakeholders. Include the intervention, evidence-based literature, objectives, resources needed, anticipated measurable outcomes, and how the intervention would be evaluated. Submit the presentation in the digital classroom for feedback from

Foot Binding, Sati and Female infanticide

Your essay should have an introduction, analytical thesis, and conclusion. You should rely on the attached PDF files to help you support your arguments. These are the only 2 items you will need on your reference page.Here are the questions you will need to make sure are answered within the

The emergence of technology has changed health care delivery over

The emergence of technology has changed health care delivery over the last 20 years. Imagine that your clinic proposed adding telemedicine as a health care delivery method. Outline the specific steps you would take when conducting an analysis to determine the costs and implementations of this addition. Design a strategic

Please read the information in the Case Study: Hertz Global

Please read the information in the Case Study: Hertz Global and write a report to answer the following three questions:  You can demonstrate your calculations of questions 1 and 2 in a Table.   (word file, no more than 4 pages, double spacing, font size 12)  1. What percentage of its

Paper – Drug Control policy Controlling the use and abuse

Paper – Drug Control policy Controlling the use and abuse of drugs has been a long standing battle in our society. What theories have the most relevance in addressing drug use and addiction? Describe and explain how theories can help us formulate effective polices for addressing drug use in the

Write a 3 page research paper describing critical information and

Write a 3 page research paper describing critical information and data security concerns that plague mobile apps.  Describe the problems and a  possible course of action to eliminate or mitigate the security  concerns.  Provide four references. APA format.  Use peer  reviewed and academic sources and properly cite these in your

You need to write a 700-1000 word on the visit

You need to write a 700-1000 word on the visit along with reflections on what they experienced and what they saw. It should be with embedded or linked digital photos (or possibly videos) of some representative samples of the art.  First, It should include the following information tabulated at the

I sent you enough samples of how to do it.

I sent you enough samples of how to do it. so you can do it exactly as the teacher requires it. I need to approve this project remember I failed the Midterm because you put wrong expressions and sign. Please I am paying to pass. take the time to make

Preparing for Major Research Paper This week’s assignment is to

  Preparing for Major Research Paper This week’s assignment is to select a research topic for the major research paper, due in Week 8. See below for possible choices. If the potential topics do not appeal to you, you may suggest an alternative related to the course for approval. ·         Homeland

Operational Art and Design / Joint Intelligence Preparation of the

The biggest thing is using this DEEP method for each subject. Operational Art and Design / Joint Intelligence Preparation of the Operational Environment / Joint Planning Process / Mission Command, I don’t need cites, just using DEEP method for each subject Tasks: Define- To state the precise meaning of a

Outline for a persuasive or informational speech

Description: For this assignment, you will prepare and write a delivery outline for a persuasive or informational speech. Objectives: Engage in the first six steps of preparing a speech, including selecting a topic, analyzing your audience, researching your topic, collecting supporting materials, developing main points, and organizing your speech materials.

Topic- Any topic from Human Resource Management Directions- You should

  Topic–  Any topic from Human Resource Management Directions- You should research two peer-reviewed articles. You are to complete two annotated bibliographies. Your AB’s should be a minimum of ¾ page long not including the bibliography. Your submission should be double-spaced, and you should use Times New Roman 12 font.

Citizenship requires a certain level of political knowledge, yet most

 Citizenship requires a certain level of political knowledge, yet most Americans do not know much about politics. What types of political information are Americans most likely to possess? Do you think this is sufficient to fully participate in a democracy? What solutions would you suggest for Americans’ lack of political