Business Statistics : Unit 9 Project

MM305 Unit 9 project

1. The following is the activity and associated costs for the renovation of the local high school football stadium. The times are in weeks.

Activity	Immediate Predecessor	Time	Cost ($)
A	-	4	25,000
B	-	5	30,000
C	A	3	15,000
D	B	8	50,000
E	B	2	12,000
F	C, D	3	15,000
G	C, D	7	46,000
H	E, F	2	20,000

1. What is the critical path for this project?

2. How much of the total budget would be spent in Week 8 (Period 8) with the earliest start budget?

2. Johnson Construction Company is in the process of installing power lines to a large housing development. The company wants to minimize the total length of wire used, which would minimize the company’s cost. The housing development is shown below. Each house has been numbered, and the distances between houses are given in hundreds of feet.

1. What do you recommend to Johnson Construction Company?

3. From the States Data Set the following output for the Income in 2000 and for the Income in 2010 was created.

1. Which variable has the greatest relative variation?

4. You are a consultant working for Kaplan Consulting. The U.S. Department of Labor has requested assistance in evaluating the impact of economic stimulus on the unemployment rate. From the States Data Set the following t test was conducted to answer the question: “Has there been a significant reduction in the national unemployment rate between January and June?”

1. What is the Null and the Alternative Hypotheses?

2. What is your level of alpha (α)?

3. What is your conclusion?

4. What is your answer to the question?

5. The Governor of a southern state has asked Kaplan Consulting to determine if the state were able to increase the percentage of its population with a Bachelor’s Degree to 50%, what might be the expected median household income based on 2010 data? Here is the output from the Regression procedure from Excel.

1. What would be the predicted median household income if the percentage of the population in the state were 50% or 50?

1

t-Test: Paired Two Sample for Means

Jan UnemployJune Unemploy

Mean7.056.824

Variance2.7090816332.538595918

Observations5050

Pearson Correlation0.955329008

Hypothesized Mean Difference0

df49

t Stat3.282157676

P(T<=t) one-tail0.000951726

t Critical one-tail1.676550893

P(T<=t) two-tail0.001903453

t Critical two-tail2.009575237

SUMMARY OUTPUT

Regression Statistics

Multiple R0.801983853

R Square0.643178101

Adjusted R Square0.635744311

Standard Error4537.165553

Observations50

CoefficientsStandard Errort StatP-value

Intercept16034.935683708.196514.3241871457.69392E-05

Bachelors1267.425919136.25802549.3016606892.56467E-12

Income 2000Income 2010

Mean41773.5Mean50007.02

Standard Error914.6546315Standard Error1063.154673

Median41404.5Median48818.5

Mode#N/AMode#N/A

Standard Deviation6467.584924Standard Deviation7517.638789

Sample Variance41829654.74Sample Variance56514892.96

Kurtosis-0.660527439Kurtosis-0.456890276

Skewness0.097844527Skewness0.498203808

Range25124Range28722

Minimum29411Minimum37985

Maximum54535Maximum66707

Sum2088675Sum2500351

Count50Count50