Business Statistics : 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.

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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?

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