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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...

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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 Calculato
    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 co
ect 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.
        5.83    4.82    5.25    5.96    4.59    4.52    5.06    5.67    5.73    4.71
        5.5    5.84    4.82    5.98    4.89    5.39    4.73    4.96    5.59    4.86
        4.94    4.9    4.71    4.99    5.41    5.26    5.13    4.72    4.54    4.58
        4.59    4.62    4.6    4.67    5.13    4.97    5.27    4.93    5.12    5.14
        5.85    4.67    4.91    5.45    5.19    5.14    4.91    5.37    4.89    5.95
        4.76    5.95    4.91    5.81    4.59    5.91    4.91    4.69    4.81    5.41
        4.93    5.31    4.63    5.62    5.84    5.82    5.57    4.61    5.47    5.33
        4.58    4.83    4.73    5.57    4.76    5.5    5.84    5.1    5.63    5.22
        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 numbe
        Find the smallest numbe
        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
ought 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 Rank    Domestic Gross XXXXXXXXXXin millions)    Rating    Type
    1    $ XXXXXXXXXX    PG-13    Fantasy
    2    $ XXXXXXXXXX    PG    Documentary
    3    $ XXXXXXXXXX    PG-13    Thrille
    4    $ XXXXXXXXXX    Unrated    SuperHero
    5    $ XXXXXXXXXX    R    Fantasy
    6    $ XXXXXXXXXX    PG    Fantasy
    7    $ XXXXXXXXXX    PG    Fantasy
    8    $ XXXXXXXXXX    PG    Family
    9    $ XXXXXXXXXX    PG    Romance
    10    $ XXXXXXXXXX    PG-13    Musical
    11    $ XXXXXXXXXX    R    Ho
o
    12    $ XXXXXXXXXX    PG-13    SuperHero
    13    $ XXXXXXXXXX    PG    Documentary
    14    $ XXXXXXXXXX    Unrated    Sci-Fi
    15    $ XXXXXXXXXX    PG-13    Ho
o
    16    $ XXXXXXXXXX    G    Documentary
    17    $ XXXXXXXXXX    G    Family
    18    $ XXXXXXXXXX    Unrated    Action
    19    $ XXXXXXXXXX    PG    Comedy
    20    $ XXXXXXXXXX    R    Ho
o
    21    $ XXXXXXXXXX    R    Western
    22    $ XXXXXXXXXX    PG-13    Romance
    23    $ XXXXXXXXXX    R    Sci-Fi
    24    $ XXXXXXXXXX    Unrated    Family
    25    $ XXXXXXXXXX    PG-13    Ho
o
    26    $ XXXXXXXXXX    PG-13    Sci-Fi
    27    $ XXXXXXXXXX    Unrated    Cartoon
    28    $ XXXXXXXXXX    Unrated    Ho
o
    29    $ XXXXXXXXXX    Unrated    Action
    30    $ XXXXXXXXXX    PG    Unknown
    31    $ XXXXXXXXXX    Unrated    Ho
o
    32    $ XXXXXXXXXX    R    Thrille
    33    $ XXXXXXXXXX    Unrated    Thrille
    34    $ XXXXXXXXXX    R    Drama
    35    $ XXXXXXXXXX    R    Ho
o
    36    $ XXXXXXXXXX    PG    Thrille
    37    $ XXXXXXXXXX    Unrated    Drama
    38    $ XXXXXXXXXX    PG-13    Comedy
    39    $ XXXXXXXXXX    R    Ho
o
    40    $ XXXXXXXXXX    R    Ho
o
    41    $ XXXXXXXXXX    R    Comedy
    42    $ XXXXXXXXXX    R    Unknown
    43    $ XXXXXXXXXX    R    Comedy
    44    $ XXXXXXXXXX    PG-13    Documentary
    45    $ XXXXXXXXXX    PG    Thrille
    46    $ XXXXXXXXXX    PG    Cartoon
    47    $ XXXXXXXXXX    G    Family
    48    $ XXXXXXXXXX    Unrated    Family
    49    $ XXXXXXXXXX    PG    Musical
    50    $ XXXXXXXXXX    PG-13    Fantasy
    51    $ XXXXXXXXXX    R    Comedy
    52    $ XXXXXXXXXX    PG    Drama
    53    $ XXXXXXXXXX    PG-13    Family
    54    $ XXXXXXXXXX    PG-13    Western
    55    $ XXXXXXXXXX    PG-13    Thrille
    56    $ XXXXXXXXXX    R    Action
    57    $ XXXXXXXXXX    PG-13    Thrille
    58    $ XXXXXXXXXX    R    Thrille
    59    $ XXXXXXXXXX    G    Cartoon
    60    $ XXXXXXXXXX    PG    Sci-Fi
    61    $ XXXXXXXXXX    R    Musical
    62    $ XXXXXXXXXX    R    Sci-Fi
    63    $ XXXXXXXXXX    G    Sci-Fi
    64    $ XXXXXXXXXX    Unrated    SuperHero
    65    $ XXXXXXXXXX    PG    Fantasy
    66    $ XXXXXXXXXX    PG-13    Fantasy
    67    $ XXXXXXXXXX    PG    Action
    68    $ XXXXXXXXXX    G    Romance
    69    $ XXXXXXXXXX    Unrated    Ho
o
    70    $ XXXXXXXXXX    R    Ho
o
    71    $ XXXXXXXXXX    G    Musical
    72    $ XXXXXXXXXX    G    Family
    73    $ XXXXXXXXXX    PG-13    Thrille
    74    $ XXXXXXXXXX    PG-13    Comedy
    75    $ XXXXXXXXXX    PG-13    Ho
o
    76    $ XXXXXXXXXX    Unrated    Ho
o
    77    $ XXXXXXXXXX    Unrated    SuperHero
    78    $ XXXXXXXXXX    R    Documentary
    79    $ XXXXXXXXXX    Unrated    Romance
    80    $ XXXXXXXXXX    PG-13    SuperHero
    81    $ XXXXXXXXXX    Unrated    Sci-Fi
    82    $ XXXXXXXXXX    Unrated    Documentary
    83    $ XXXXXXXXXX    PG    Cartoon
    84    $ XXXXXXXXXX    Unrated    Musical
    85    $ XXXXXXXXXX    PG-13    Action
    86    $ XXXXXXXXXX    G    Family
    87    $ XXXXXXXXXX    PG-13    SuperHero
    88    $ XXXXXXXXXX    G    Family
    89    $ XXXXXXXXXX    G    Family
    90    $ XXXXXXXXXX    R    Musical
    91    $ XXXXXXXXXX    R    Unknown
    92    $ XXXXXXXXXX    R    Drama
    93    $ XXXXXXXXXX    PG-13    Comedy
    94    $ XXXXXXXXXX    G    Sci-Fi
    95    $ XXXXXXXXXX    PG    Documentary
    96    $ XXXXXXXXXX    PG    Unknown
    97    $ XXXXXXXXXX    PG-13    Thrille
    98    $ XXXXXXXXXX    PG-13    Thrille
    99    $ XXXXXXXXXX    R    Thrille
    100    $ XXXXXXXXXX    G    Family
    101    $ XXXXXXXXXX    R    Ho
o
    102    $ XXXXXXXXXX    G    Fantasy
    103    $ XXXXXXXXXX    G    Documentary
    104    $ XXXXXXXXXX    G    Sci-Fi
    105    $ XXXXXXXXXX    PG-13    Thrille
    106    $ XXXXXXXXXX    PG-13    Thrille
    107    $ XXXXXXXXXX    R    Drama
    108    $ XXXXXXXXXX    R    Documentary
    109    $ XXXXXXXXXX    PG-13    Ho
o
    110    $ XXXXXXXXXX    R    Romance
    111    $ XXXXXXXXXX    R    Ho
o
    112    $ XXXXXXXXXX    PG    Ho
o
    113    $ XXXXXXXXXX    PG    Unknown
    114    $ XXXXXXXXXX    PG    Family
    115    $ XXXXXXXXXX    PG    Sci-Fi
    116    $ XXXXXXXXXX    PG    Family
    117    $ XXXXXXXXXX    R    Drama
    118    $ XXXXXXXXXX    G    Sci-Fi
    119    $ XXXXXXXXXX    R    SuperHero
    120    $ XXXXXXXXXX    G    Family
    121    $ XXXXXXXXXX    G    Musical
    122    $ XXXXXXXXXX    R    Action
    123    $ XXXXXXXXXX    PG    Romance
    124    $ XXXXXXXXXX    PG-13    Unknown
    125    $ XXXXXXXXXX    G    Romance
    126    $ XXXXXXXXXX    PG    Musical
    127    $ XXXXXXXXXX    PG-13    Family
    128    $ XXXXXXXXXX    R    Action
    129    $ XXXXXXXXXX    R    Sci-Fi
    130    $ XXXXXXXXXX    PG    Family
    131    $ XXXXXXXXXX    PG-13    Drama
    132    $ XXXXXXXXXX    PG-13    Ho
o
    133    $ XXXXXXXXXX    PG-13    SuperHero
    134    $ XXXXXXXXXX    PG-13    Action
    135    $ XXXXXXXXXX    R    Documentary
    136    $ XXXXXXXXXX    G    Family
    137    $ XXXXXXXXXX    PG-13    SuperHero
    138    $ XXXXXXXXXX    PG-13    SuperHero
    139    $ XXXXXXXXXX    G    Romance
    140    $ XXXXXXXXXX    Unrated    Fantasy
    141    $ XXXXXXXXXX    PG    Cartoon
    142    $ XXXXXXXXXX    PG-13    Thrille
    143    $ XXXXXXXXXX    R    Thrille
    144    $ XXXXXXXXXX    G    Comedy
    145    $ XXXXXXXXXX    PG    Comedy
    146    $ XXXXXXXXXX    G    Sci-Fi
    147    $ XXXXXXXXXX    R    SuperHero
    148    $ XXXXXXXXXX    R    Documentary
    149    $ XXXXXXXXXX    R    Cartoon
    150    $ XXXXXXXXXX    PG-13    Action
    151    $ XXXXXXXXXX    R    Ho
o
    152    $ XXXXXXXXXX    R    SuperHero
    153    $ XXXXXXXXXX    R    Comedy
    154    $ XXXXXXXXXX    R    Comedy
    155    $ XXXXXXXXXX    PG-13    Ho
o
    156    $ XXXXXXXXXX    PG    Family
    157    $ XXXXXXXXXX    PG-13    Western
    158    $ XXXXXXXXXX    R    Fantasy
    159    $ XXXXXXXXXX    PG-13    Fantasy
    160    $ XXXXXXXXXX    G    Romance
    161    $ XXXXXXXXXX    R    Action
    162    $ XXXXXXXXXX    PG-13    Documentary
    163    $ XXXXXXXXXX    PG    Drama
    164    $ XXXXXXXXXX    PG    Action
    165    $ XXXXXXXXXX    PG    Action
    166    $ XXXXXXXXXX    PG-13    Cartoon
    167    $ XXXXXXXXXX    G    Family
    168    $ XXXXXXXXXX    G    Comedy
    169    $ XXXXXXXXXX    PG-13    Comedy
    170    $ XXXXXXXXXX    PG-13    Documentary
    171    $ XXXXXXXXXX    PG-13    Romance
    172    $ XXXXXXXXXX    PG-13    Cartoon
    173    $ XXXXXXXXXX    PG    Romance
    174    $ XXXXXXXXXX    R    Cartoon
    175    $ XXXXXXXXXX    PG-13    Documentary
    176    $ XXXXXXXXXX    PG    Comedy
    177    $ XXXXXXXXXX    G    Family
    178    $ XXXXXXXXXX    PG-13    Thrille
    179    $ XXXXXXXXXX    PG-13    Romance
    180    $ XXXXXXXXXX    PG    Family
    181    $ XXXXXXXXXX    G    Action
    182    $ XXXXXXXXXX    R    Ho
o
    183    $ XXXXXXXXXX    R    Romance
    184    $ XXXXXXXXXX    R    Cartoon
    185    $ XXXXXXXXXX    G    Documentary
    186    $ XXXXXXXXXX    PG-13    Sci-Fi
    187    $ XXXXXXXXXX    PG-13    SuperHero
    188    $ XXXXXXXXXX    G    Cartoon
    189    $ XXXXXXXXXX    PG-13    Drama
    190    $ XXXXXXXXXX    R    Ho
o
    191    $ XXXXXXXXXX    PG    Documentary
    192    $ XXXXXXXXXX    PG-13    SuperHero
    193    $ XXXXXXXXXX    PG    Thrille
    194    $ XXXXXXXXXX    R    Romance
    195    $ XXXXXXXXXX    R    Fantasy
    196    $ XXXXXXXXXX    G    Documentary
    197    $ XXXXXXXXXX    R    Action
    198    $ 4.00    R    Fantasy
    199    $ 4.00    PG    Documentary
    200    $ 1.00    R    SuperHero
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
Answered Same Day Aug 17, 2021

Solution

Biswajit answered on Aug 20 2021
149 Votes
Problem set 1 solutions
Week 2 HW
MGMT 650 Summer 2020
Week 2 Homework Questions
(Last updated 7/8/2020)
Q1 - Grade Calculato
    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 co
ect 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 E
or    0.05                                        4.61
        Median    5.08                                        5.1
        Mode    4.91                                        5.73
        Standard...
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