Business Analytics
3rd Edition
ISBN: 9780135231715
Author: Evans
Publisher: PEARSON
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Textbook Question
Chapter 1, Problem 4PE
For each of the following scenarios, state whether descriptive, predictive, or prescriptive analytics tools would most likely be used.
- The chief financial officer for a small manufacturing firm would like to estimate the net profit that the firm could expect over the next three years.
- A human resource manager needs to understand whether the company’s current employee mix has the skills and capabilities needed to achieve the goals laid out by a new strategic plan.
- A financial advisor would like to develop the best mix of stocks, bonds, and other investments for a client to achieve a comfortable level of risk.
- A large service firm wishes to determine how to invest the cash received from its financial product to achieve the best return.
- A logistics company wants to better understand the relative profitability of its numerous customers over the past three years.
- A disaster relief agency needs to allocate its budget for the next year among various relief efforts and programs.
- An automobile company would like to determine the number of vehicles it could sell next year based on the proposed price.
- A baseball team would like to set ticket prices for different sections in its stadium to attract the highest number of fans throughout the season.
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Chapter 1 Solutions
Business Analytics
Ch. 1 - Discuss how you might use business analytics in...Ch. 1 - How might analytics be used in the following...Ch. 1 - A supermarket has been experiencing long lines...Ch. 1 - For each of the following scenarios, state whether...Ch. 1 - Suppose that a manufacturer can produce a part for...Ch. 1 - A bank developed a model for predicting the...Ch. 1 - Four key marketing decision options are price P,...Ch. 1 - Total marketing effort is a term used to describe...Ch. 1 - A manufacturer of headphones is preparing to set...Ch. 1 - In this chapter, we noted the importance of...
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