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Data Visualization and Business Modelling – Assignment 2 (EPGDM)

1.

dementia_dataset.csv

provides the details of some patients diagnosed with dementia. Generate a support vector classifier using Python (or R) and fit the model with the given dataset. Determine the prediction accuracy of the model and if found satisfactory use the model to predict the dementia possibility of five new patients whose relevant details are provided in the**new_cases_dementia_test.csv**

file. Do proper treatment for the missing values. [15]

2.

Matthew’s Bakery prepares peanut butter cookies for sale every morning. It costs the bakery $0.50 to bake each peanut butter cookie, and each cookie is sold for $1.25. At the end of the day, leftover cookies are discounted and sold the following day at $0.40 per cookie. The daily demand (in dozens) for peanut butter cookies at this bakery is known to be normally distributed with mean 200 and standard deviation 60. The manager of Matthew’s Bakery is trying to determine how many dozen peanut butter cookies to make each morning to maximize the product’s contribution to bakery profits. Using MS-Excel simulate the scenario and find a very good, if not optimal, production plan. [10]

3.

Department of Health in a large US city is accepting bids for the contract to design and deploy a new citywide healthcare information platform. The IT company Rapid Deployment (RD) plans to submit a bid and is considering a decision on how much to bid. Since RD does not know exactly how much its main competitor will bid, it treats is main competitor’s bid B as a random variable (RD believes that bids from other potential competitors are unlikely to win). RD estimates, based on past experience, that B will be normally distributed with mean $12 million and the standard deviation of $1 million. RD estimates that its own cost of designing and deploying the new platform will be $11 million, and it plans to submit a bid amount A=$11.5 million. The company that submits the lowest bid will win the contract, and if the bids are tied, RD’s competitor will get the contract as it has more experience with similar projects. Thus, if B turns out to be less than or equal to $11.5 million, RD will lose this contract and RD’s profit will be $0. On the other hand, if B turns out to be greater than $11.5 million, then RD will win this contract, and RD’s profit will be equal to $11.5 million - $11million = $0.5 million. RD would like to use simulation to model the distribution of its profit. [2+3+5=10]

Questions:

(a) Write down an algebraic expression for RD’s profit as a function of its competitor’s bid B.

(b) Suppose that Excel’s Random Number Generation tool has generated the following sequence of 5 random values from the normal distribution with mean of 12 and standard deviation of 1: 10.5, 12.3, 11.4, 13.8,12.5. These values reflect 5 random values of competitor’s bid, in $ millions. What is the sample mean of the RD’s profit values corresponding to these competitor’s bid values?

(c) Use MS-Excel to set up and run a simulation of the RD’s profit using n=100 simulation trials and the random seed of 123. Based on the results of this simulation, what are the estimates for the expected value and the standard deviation of the RD’s profit?

Answered 2 days AfterJul 23, 2023

SOLUTION.PDF## Answer To This Question Is Available To Download

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