Assignment 1
Like so many other aspects of the business world, the field of data analysis and statistics has been impacted by the Big Data phenomenon and the digital revolution. Using a few paragraphs, describe how the digital age has affected your life, education and possibly job, especially with respect to data analysis and statistics.
Worksheet “Credit Cards” in “Assignment 1.xlsx” contains demographic information as well as the total annual charges for 5,000 credit card holders. I planted 5 fairly obvious “mistakes” (e.g., outliers, blanks, “impossible” values) in the data. Can you find them? Please report the account number and what you think the mistake is for each.
Eastman Publishing Company is considering publishing an electronic textbook about spreadsheet applications for business. The fixed cost of manuscript preparation, textbook design, and web site construction is estimated to be $160,000. Variable processing cost are estimated to be $6 per book. The publisher plans to sell single-user licenses to the book for $46.
With a demand of 3,500, there will be a loss of $20,000.
For demand of 3,500, the breakeven access price is $51.71.
Scenario 4 yields the highest profit ($40,000) and scenario 2 the lowest (-$118,000).