Problem set 1 solutions Week 2 HW MGMT 650 Summer 2020 Week 2 Homework Questions (Last updated 7/8/2020) Q1 - Grade Calculator Create a spreadsheet that automatically calculates your grade in this...

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Problem set 1 solutions Week 2 HW MGMT 650 Summer 2020 Week 2 Homework Questions (Last updated 7/8/2020) Q1 - Grade Calculator Create a spreadsheet that automatically calculates your grade in this class as you enter the grades that you receive. It should include: 1) the weights of each graded assignment, 2) your grade in each assignment, and 3) your final grade. Be sure to label everything: such as the places where the information, is stored; the names of each assignment; and where to add the actual grades that you receive. Make this sheet user friendly; especially for users that see the sheet for the first time. To use this for your benefit, you may want to design it so that it can be used to calculate your interim grade before you have all the grades. After this week, you will receive the solution from your professor and you will be able to use your solution or our solution for future classes. To test your calculator, make up grades for all assignments. This will allow you to test it and make sure that you get the correct final grade. 1) “give yourself” 85 on all assignments, make sure the final is 85. Now change all grades to 90 and verify that your final grade is 90. 2) Next change one of the quizzes from 90 to 80, and make sure the final grade is lower. 3) Then change the 80 back to 90 and change the mid term grade to 80. Make sure that the result is different. MGMT 650 Grade Calculator Q2 - Descriptive Stat Here is sample data showing the weight of coffee beans in bags labeled 5 pounds. The data is in pounds. 5.834.825.255.964.594.525.065.675.734.71 5.55.844.825.984.895.394.734.965.594.86 4.944.94.714.995.415.265.134.724.544.58 4.594.624.64.675.134.975.274.935.125.14 5.854.674.915.455.195.144.915.374.895.95 4.765.954.915.814.595.914.914.694.815.41 4.935.314.635.625.845.825.574.615.475.33 4.584.834.735.574.765.55.845.15.635.22 For the following questions, you must use Excel formulas in the cells so that Excel calculates the answers for you. 1)Compute the mean: Compute the median Find the mode 2)Compute the first quartile; use =QUARTILE.EXC() First Quartile Compute the third quartile; use =QUARTILE.EXC() Third Quartile Compute the interquartile range 3)Find the largest number Find the smallest number What is the range? 4)What is the difference between the Excel functions, STDEV.P and STDEV.S? (Hint: Use the Excel help files.) 5)What is the Variance? What is the standard deviation? 6)Explain why the standard deviation is a better measure to use than the variance 7)What is the Coefficient of Variation, or the CV? https://www.statisticshowto.datasciencecentral.com/probability-and-statistics/how-to-find-a-coefficient-of-variation/ When is the Coefficient of Variation especially useful? Give an example of when you will use Coefficient of Variation in real life. This can be from your work, from the popular press, or from a statistics website Copy all of the data into a column, use Column M and go from cell M1:M80 8)Use the Data Analysis tool on the numbers just copied to find the Descriptive Statistics: Click on Data Analysis and Choose Descriptive Statistics Click on the Summary Statistics box. Highlight the mean, median, mode, Standard deviation, Range, Minimum, and Maximum Notice that the Data Analysis tool gives you all of the info needed for this problem except for the quartiles, variance, and CV. Compare your answers in the previous sections with what you got here. If there is a difference, you probabkly made a mistake, go bak and check your work. For questions 9 and 10, you are a consultant who is brought in and given these numbers and asked to generate a report to management. What would your recommendation be? These two parts are your chance to show your understanding of the material. To do a good job (and justify your consultant fees :-)) I would expect at least 1-2 paragpahs on each 9)Interpret the measures of central tendency within the context of this problem. Should the company producing the coffee be concerned about the central tendency? 10)Interpret the measures of variation within the context of this problems. Should the company producing the coffee be concerned about variation? &D https://www.statisticshowto.datasciencecentral.com/probability-and-statistics/how-to-find-a-coefficient-of-variation/ Pivot Table Data Movie RankDomestic Gross (in millions)RatingType 1$ 999.00PG-13Fantasy 2$ 988.00PGDocumentary 3$ 984.00PG-13Thriller 4$ 984.00UnratedSuperHero 5$ 981.00RFantasy 6$ 979.00PGFantasy 7$ 972.00PGFantasy 8$ 970.00PGFamily 9$ 970.00PGRomance 10$ 957.00PG-13Musical 11$ 956.00RHorror 12$ 953.00PG-13SuperHero 13$ 952.00PGDocumentary 14$ 951.00UnratedSci-Fi 15$ 948.00PG-13Horror 16$ 939.00GDocumentary 17$ 934.00GFamily 18$ 932.00UnratedAction 19$ 932.00PGComedy 20$ 930.00RHorror 21$ 907.00RWestern 22$ 905.00PG-13Romance 23$ 904.00RSci-Fi 24$ 903.00UnratedFamily 25$ 898.00PG-13Horror 26$ 896.00PG-13Sci-Fi 27$ 882.00UnratedCartoon 28$ 878.00UnratedHorror 29$ 875.00UnratedAction 30$ 874.00PGUnknown 31$ 873.00UnratedHorror 32$ 860.00RThriller 33$ 856.00UnratedThriller 34$ 851.00RDrama 35$ 848.00RHorror 36$ 839.00PGThriller 37$ 835.00UnratedDrama 38$ 830.00PG-13Comedy 39$ 829.00RHorror 40$ 824.00RHorror 41$ 821.00RComedy 42$ 819.00RUnknown 43$ 815.00RComedy 44$ 809.00PG-13Documentary 45$ 802.00PGThriller 46$ 798.00PGCartoon 47$ 792.00GFamily 48$ 787.00UnratedFamily 49$ 785.00PGMusical 50$ 775.00PG-13Fantasy 51$ 770.00RComedy 52$ 758.00PGDrama 53$ 755.00PG-13Family 54$ 750.00PG-13Western 55$ 744.00PG-13Thriller 56$ 740.00RAction 57$ 736.00PG-13Thriller 58$ 736.00RThriller 59$ 731.00GCartoon 60$ 721.00PGSci-Fi 61$ 721.00RMusical 62$ 717.00RSci-Fi 63$ 700.00GSci-Fi 64$ 692.00UnratedSuperHero 65$ 684.00PGFantasy 66$ 682.00PG-13Fantasy 67$ 671.00PGAction 68$ 667.00GRomance 69$ 658.00UnratedHorror 70$ 645.00RHorror 71$ 642.00GMusical 72$ 642.00GFamily 73$ 637.00PG-13Thriller 74$ 637.00PG-13Comedy 75$ 634.00PG-13Horror 76$ 632.00UnratedHorror 77$ 629.00UnratedSuperHero 78$ 623.00RDocumentary 79$ 623.00UnratedRomance 80$ 620.00PG-13SuperHero 81$ 615.00UnratedSci-Fi 82$ 612.00UnratedDocumentary 83$ 610.00PGCartoon 84$ 610.00UnratedMusical 85$ 605.00PG-13Action 86$ 600.00GFamily 87$ 594.00PG-13SuperHero 88$ 590.00GFamily 89$ 589.00GFamily 90$ 586.00RMusical 91$ 582.00RUnknown 92$ 581.00RDrama 93$ 571.00PG-13Comedy 94$ 570.00GSci-Fi 95$ 564.00PGDocumentary 96$ 562.00PGUnknown 97$ 556.00PG-13Thriller 98$ 545.00PG-13Thriller 99$ 545.00RThriller 100$ 531.00GFamily 101$ 527.00RHorror 102$ 520.00GFantasy 103$ 503.00GDocumentary 104$ 494.00GSci-Fi 105$ 494.00PG-13Thriller 106$ 485.00PG-13Thriller 107$ 478.00RDrama 108$ 474.00RDocumentary 109$ 474.00PG-13Horror 110$ 470.00RRomance 111$ 453.00RHorror 112$ 449.00PGHorror 113$ 446.00PGUnknown 114$ 445.00PGFamily 115$ 434.00PGSci-Fi 116$ 429.00PGFamily 117$ 423.00RDrama 118$ 401.00GSci-Fi 119$ 398.00RSuperHero 120$ 393.00GFamily 121$ 391.00GMusical 122$ 388.00RAction 123$ 387.00PGRomance 124$ 386.00PG-13Unknown 125$ 381.00GRomance 126$ 380.00PGMusical 127$ 378.00PG-13Family 128$ 378.00RAction 129$ 376.00RSci-Fi 130$ 375.00PGFamily 131$ 364.00PG-13Drama 132$ 352.00PG-13Horror 133$ 335.00PG-13SuperHero 134$ 335.00PG-13Action 135$ 332.00RDocumentary 136$ 326.00GFamily 137$ 321.00PG-13SuperHero 138$ 317.00PG-13SuperHero 139$ 313.00GRomance 140$ 306.00UnratedFantasy 141$ 300.00PGCartoon 142$ 298.00PG-13Thriller 143$ 296.00RThriller 144$ 293.00GComedy 145$ 284.00PGComedy 146$ 278.00GSci-Fi 147$ 269.00RSuperHero 148$ 253.00RDocumentary 149$ 253.00RCartoon 150$ 250.00PG-13Action 151$ 245.00RHorror 152$ 241.00RSuperHero 153$ 233.00RComedy 154$ 230.00RComedy 155$ 228.00PG-13Horror 156$ 224.00PGFamily 157$ 219.00PG-13Western 158$ 218.00RFantasy 159$ 216.00PG-13Fantasy 160$ 202.00GRomance 161$ 202.00RAction 162$ 197.00PG-13Documentary 163$ 194.00PGDrama 164$ 193.00PGAction 165$ 187.00PGAction 166$ 183.00PG-13Cartoon 167$ 182.00GFamily 168$ 181.00GComedy 169$ 171.00PG-13Comedy 170$ 169.00PG-13Documentary 171$ 167.00PG-13Romance 172$ 166.00PG-13Cartoon 173$ 164.00PGRomance 174$ 157.00RCartoon 175$ 130.00PG-13Documentary 176$ 129.00PGComedy 177$ 129.00GFamily 178$ 125.00PG-13Thriller 179$ 106.00PG-13Romance 180$ 82.00PGFamily 181$ 81.00GAction 182$ 79.00RHorror 183$ 79.00RRomance 184$ 78.00RCartoon 185$ 73.00GDocumentary 186$ 70.00PG-13Sci-Fi 187$ 69.00PG-13SuperHero 188$ 69.00GCartoon 189$ 63.00PG-13Drama 190$ 60.00RHorror 191$ 57.00PGDocumentary 192$ 54.00PG-13SuperHero 193$ 36.00PGThriller 194$ 30.00RRomance 195$ 26.00RFantasy 196$ 15.00GDocumentary 197$ 14.00RAction 198$ 4.00RFantasy 199$ 4.00PGDocumentary 200$ 1.00RSuperHero Q3 - Pivot Table 11)Using the data on the Pivot Table Data Sheet, create a Pivot table showing: 1) The Movie Type, Count of Type, and Sum of Domestic Gross (in millions); columns B and D from the Pivot Table Data Sheet Have three columns:Movie Type, Count of Type, and Sum of Domestic Gross (in millions) Format the Sum of Domestic Gross (in millions) Field using $ 12)Which type of movie had the highest Domestic Gross Total for 2018? Which type of movie had the highest number of films made of that type in 2018? (You might try making more/different pivot tables to learn about the raw data. What do you want to know about Domestic Movies in 2018?) Q4 - Frequency Use the raw Data on the Pivot Table Data Sheet to create a Frequency Chart: Follow these steps to get the Frequency chart. The following website also has instructions to create bins. https://www.statisticshowto.datasciencecentral
mgmt-650-hw-2-5n4reju4.xlsx mgmt-650-hw-2-v3bzpokm-51fntxtb.xlsx
Answered Same DayAug 17, 2021

Answer To: Problem set 1 solutions Week 2 HW MGMT 650 Summer 2020 Week 2 Homework Questions (Last updated...

Biswajit answered on Aug 20 2021
143 Votes
Problem set 1 solutions
Week 2 HW
MGMT 650 Summer 2020
Week 2 Homework Questions
(Last updated 7/8/2020)
Q1 - Grade Calculator
    Create a spreadsheet that automatically calculates your grade in this class as you enter the grades that you receive.
                                Name of Assignment    Grade in each assignment    weight
    It should include: 1) the weights of each graded assignment, 2) your grade in each assignment,                            Assignment1    85    0.1
     and 3) your final grade. Be sure to label everything: such as the places where the information,                            Assignment2    85    0.18
     is stored; the names of each assignment; and where to add the actual grades that you receive.                            Midterm    85    0.15
    Make this sheet user friendly; especially for users that see the sheet for the first time.                            Assignment4    85    0.22
                                Assignment5    85    0.35
    To use this for your benefit, you may want to design it so that it can be used to calculate your interim grade                                     1    Final Grade    85.00
    before you have all the grades. After this week, you will receive the solution from your professor
    and you will be able to use your solution or our solution for future classes.
                                Name of Assignment    Grade in each assignment    weight
    To test your calculator, make up grades for all assignments. This will allow you to test it and make sure that you get the correct final grade.                            Assignment1    90    0.1
    1) “give yourself” 85 on all assignments, make sure the final is 85. Now change all grades to 90 and verify that your final grade is 90.                            Assignment2    90    0.18
    2) Next change one of the quizzes from 90 to 80, and make sure the final grade is lower.                            Midterm    90    0.15
    3) Then change the 80 back to 90 and change the mid term grade to 80. Make sure that the result is different.                            Assignment4    90    0.22
                                Assignment5    90    0.35
                                        1    Final Grade    90.00
                                                
        MGMT 650 Grade Calculator                        Name of Assignment    Grade in each assignment    weight
        Name of Assignment    Grade in each assignment    weight                Assignment1    80    0.1
        Assignment1    90    0.1                Assignment2    90    0.18
        Assignment2    90    0.18                Midterm    90    0.15
        Midterm    80    0.15                Assignment4    90    0.22
        Assignment4    90    0.22                Assignment5    90    0.35
        Assignment5    90    0.35                        1    Final Grade    89.00
                1    Final Grade    88.5
                                Name of Assignment    Grade in each assignment    weight
                                Assignment1    90    0.1
                                Assignment2    90    0.18
                                Midterm    80    0.15
                                Assignment4    90    0.22
                                Assignment5    90    0.35
                                        1    Final Grade    88.50
Q2 - Descriptive Stat
        Here is sample data showing the weight of coffee beans in bags labeled 5 pounds. The data is in pounds.                                            5.83
                                                    5.5
        5.83    4.82    5.25    5.96    4.59    4.52    5.06    5.67    5.73    4.71        4.94
        5.5    5.84    4.82    5.98    4.89    5.39    4.73    4.96    5.59    4.86        4.59
        4.94    4.9    4.71    4.99    5.41    5.26    5.13    4.72    4.54    4.58        5.85
        4.59    4.62    4.6    4.67    5.13    4.97    5.27    4.93    5.12    5.14        4.76
        5.85    4.67    4.91    5.45    5.19    5.14    4.91    5.37    4.89    5.95        4.93
        4.76    5.95    4.91    5.81    4.59    5.91    4.91    4.69    4.81    5.41        4.58
        4.93    5.31    4.63    5.62    5.84    5.82    5.57    4.61    5.47    5.33        4.82
        4.58    4.83    4.73    5.57    4.76    5.5    5.84    5.1    5.63    5.22        5.84
                                                    4.9
                                                    4.62
        For the following questions, you must use Excel formulas in the cells so that Excel calculates the answers for you.                                            4.67
                                                    5.95
    1)    Compute the mean:                                            5.31
        5.15                                            4.83
        Compute the median                                            5.25
        5.08                                            4.82
        Find the mode                                            4.71
        4.91                                            4.6
    2)    Compute the first quartile; use =QUARTILE.EXC()                                             4.91
        4.76    First Quartile                                        4.91
        Compute the third quartile; use =QUARTILE.EXC()                                             4.63
        5.5    Third Quartile                                        4.73
        Compute the interquartile range                                            5.96
        0.74                                            5.98
    3)    Find the largest number                                            4.99
        5.98                                            4.67
        Find the smallest number                                            5.45
        4.52                                            5.81
        What is the range?                                            5.62
        1.46                                            5.57
    4)    What is the difference between the Excel functions, STDEV.P and STDEV.S? (Hint: Use the Excel help files.)                                            4.59
        0.4395    stdevp                                        4.89
        0.4423    stdevs                                        5.41
        difference is because for population standard deviation,it is divided by n whereas for sample standard deviation it is divided by n-1                                            5.13
    5)    What is the Variance?                                             5.19
        0.20                                            4.59
        What is the standard deviation?                                             5.84
        0.44                                            4.76
    6)    Explain why the standard deviation is a better measure to use than the variance                                            4.52
        standard deviation is a better measure because it has same unit of measurement like the individual data points                                            5.39
    7)    What is the Coefficient of Variation, or the CV?                                            5.26
        https://www.statisticshowto.datasciencecentral.com/probability-and-statistics/how-to-find-a-coefficient-of-variation/                                            4.97
        0.086                                            5.14
        When is the Coefficient of Variation especially useful?                                            5.91
        when you are comparing variation in two different groups of data points                                            5.82
        Give an example of when you will use Coefficient of Variation in real life. This can be from your work, from the popular press, or from a statistics website                                            5.5
        if comparing marks variation in two different subjects for all the students where scales & ranges for all are different                                            5.06
                                                    4.73
        Copy all of the data into a column, use Column M and go from cell M1:M80                                            5.13
                                                    5.27
    8)    Use the Data Analysis tool on the numbers just copied to find the Descriptive Statistics:                                            4.91
        Click on Data Analysis and Choose Descriptive Statistics                                            4.91
        Click on the Summary Statistics box.                                            5.57
                                                    5.84
        Highlight the mean, median, mode, Standard deviation, Range, Minimum, and Maximum                                            5.67
        Notice that the Data Analysis tool gives you all of the info needed for this problem except for the quartiles, variance, and CV.                                            4.96
        Compare your answers in the previous sections with what you got here. If there is a difference, you probabkly made a mistake, go bak and check your work.                                            4.72
        Column1                                            4.93
                                                    5.37
        Mean    5.15                                        4.69
        Standard Error    0.05                                        4.61
        Median    5.08                                        5.1
        Mode    4.91                                        5.73
        Standard...
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