Consider the data in the file Growth.csvwhich contains data on average growth rates over 1960-1995 for 65 countries, along with variables that are potentially related to growth. A complete description of the data is given in data description which is under the name Growth- Data Description and can be found on Blackboard.
Using this data, carry out the following empirical exercises:
Construct a table that shows the sample mean, std. deviation, minimum and maximum values for the variablesGrowth, Trade-Share, YearsSchool, Oil, Rev_Coups, Assasinations, and RGDP60.
Run a regression of Growthon TradeShare, YearsSchool,Rec_Coups, Assasinations and RGDP60.Show the output of this regression in R (take a screenshot and crop the output summary in your word file that contains your answers).
What is the value on the coefficient on Rev_Coups?Is it statistically significant? Do interpretation on this coefficient.
What is the value of the adjusted R-square? Do these variables explain the majority of country growth?
Use the regression to predict the average annual growth for a country that has average values for all regressors.
Repeat (3) but now assume that the country’s value for TradeShareis one std. deviation above its mean.
Notes: Please submit through email an individual word file with your answers WELL ORGANIZEDalong with your R code (.R file) at the end.
In: Math
The population from 1975 to 2015 are given below
|
Year |
1980 |
1995 |
2010 |
2020 |
|
Population In 1000s |
10 |
20 |
32 |
44 |
In: Civil Engineering
Jan Northcutt, owner of Northcutt Bikes, started business in 1995. She notices the quality of bikes she purchased for sale in her bike shop declining while the prices went up. She also found it more difficult to obtain the features she wanted on ordered bikes without waiting for months. Her frustration turned to a determination to build her own bikes to her particular customer specifications.
She began by buying all the necessary parts (frames, seats, tires, etc.) and assembling them in a rented garage using two helpers. As the word spread about her shop’s responsiveness to options, delivery, and quality, however, the individual customer base grew to include other bike shops in the area. As her business grew and demanded more of her attention, she soon found it necessary to sell the bike shop itself and concentrate on the production of bikes from a fairly large leased factory space.
As the business continued to grow, she backward integrated more and more processes into her operation, so that now she purchases less than 50% of the component value of the manufactured bikes. This not only improves her control of production quality but also helps her control the costs of production and makes the final product more cost attractive to her customers.
The Current Situation
Jan considers herself a hands-on manager and has typically used her intuition and her knowledge of the market to anticipate production needs. Since one of her founding principles was rapid and reliable delivery to customer specification, she felt she needed to begin production of the basic parts for each particular style of bike well in advance of demand. In that way she could have the basic frame, wheels, and standard accessories started in production prior to the recognition of actual demand, leaving only the optional add-ons to assemble once the order came in. Her turnaround time for an order of less than half the industry average is considered a major strategic advantage, and she feels it is vital for her to maintain or even improve on response time if she is to maintain her successful operation.
As the customer base have grown, however, the number of customers Jan knows personally has shrunk significantly as a percentage of the total customer base for Northcutt Bikes, and many of these new customers are expecting or even demanding very short response times, as that is what attracted them to Northcutt Bikes in the first place. This condition, in addition to the volatility of overall demand, has put a strain on capacity planning. She finds that at times there is a lot of idle time (adding significantly to costs), whereas at other times the demand exceeds capacity and hurts customer response time. The production facility has therefore turned to trying to project demand for certain models, and actually building a finished goods inventory of those models. This has not proven to be too satisfactory, as it has actually hurt costs and some response times. Reasons include the following:
- The finished goods inventory is often not the “right” inventory, meaning shortages for some goods and excessive inventory of others. This condition both hurts responsiveness and increases inventory costs.
- Often, to help maintain responsiveness, inventory is withdrawn from finished goods and reworked, adding to product cost.
- Reworking inventory uses valuable capacity for other customer orders, again resulting in poorer response times and/or increased costs due to expediting. Existing production orders and rework orders are both competing for vital equipment and resources during times of high demand, and scheduling has become a nightmare.
The inventory problem has grown to the point that additional storage space is needed, and that is a cost that Jan would like to avoid if possible.
Another problem that Jan faces is the volatility of demand for bikes. Since she is worried about unproductive idle time and yet does not wish to lay off her workers during times of low demand, she has allowed them to continue to work steadily and build finished goods. This makes the problem of building the “right” finished goods even more important, especially given the tight availability of storage space.
Past Demand
The following shows the monthly demand for one major product line: the standard 26-inch 10-speed street bike. Although it is only one of Jan’s products, it is representative of most of the major product lines currently being produced by Northcutt Bikes. If Jan can find a way to sue this data to more constructively understand her demand, she feels she can probably use the same methodologies to project demand for other major product families. Such knowledge can allow her, she feels, to plan more effectively and continue to be responsive while still controlling costs.
|
Actual Demand |
||||
|
Month |
2011 |
2012 |
2013 |
2014 |
|
January |
437 |
712 |
613 |
701 |
|
February |
605 |
732 |
984 |
1291 |
|
March |
722 |
829 |
812 |
1162 |
|
April |
893 |
992 |
1218 |
1088 |
|
May |
901 |
1148 |
1187 |
1497 |
|
June |
1311 |
1552 |
1430 |
1781 |
|
July |
1055 |
927 |
1392 |
1843 |
|
August |
975 |
1284 |
1481 |
839 |
|
September |
822 |
1118 |
940 |
1273 |
|
October |
893 |
737 |
994 |
912 |
|
November |
599 |
983 |
807 |
996 |
|
December |
608 |
872 |
527 |
792 |
1. Plot the data and describe what you see. What does it mean and how would you use the information from the plot to help you develop a forecast?
2. Use at least two different methodologies to develop as accurate a forecast as possible for the demand. Use each of those methods to project the next four months demand.
3. Which method from question 2 is “better”? How do you know that?
In: Math
Assignment Purpose
The purpose of this lab is to write a well commented java program that demonstrates the use of two dimensional arrays, input validation, and methods. (Write by Java Code, Need Comment)
Instructions
Seat Ticket Price
10 10 10 10 10 10 10 10 10 10
10 10 10 10 10 10 10 10 10 10
10 10 10 10 10 10 10 10 10 10
10 10 20 20 20 20 20 20 10 10
10 10 20 20 20 20 20 20 10 10
10 10 20 20 20 20 20 20 10 10
20 20 30 30 40 40 30 30 20 20
20 40 50 50 50 50 50 50 40 20
80 50 50 80 80 80 80 50 50 30
Seating Arrangement: Seats No.
1 2 3 4 5 6 7 8 9 10
11 12 13 14 15 16 17 18 19 20
21 22 23 24 25 26 27 28 29 30
31 32 33 34 35 36 37 38 39 40
41 42 43 44 45 46 47 48 49 50
51 52 53 54 55 56 57 58 59 60
61 62 63 64 65 66 67 68 69 70
71 72 73 74 75 76 77 78 79 80
81 82 83 84 85 86 87 88 89 90
Hint: Basically, you will search the 2D array for the input price, and as soon as you find a matching price, you will replace the price at that location with a 0.
Sample output 1
Please pick a price or press Q to quit: 80
Checking for the availability……
Your seat is confirmed! Your seat number is 81. Enjoy your movie
Please pick a price or press Q to quit: 80
Checking for the availability……
No seat at this price is available. Sorry!
Please pick a price or press Q to quit: Q
Thank you for using our online ticketing
service. Goodbye!
Sample output 2
Please pick a price or press Q to quit: 10
Checking for the availability……
Your seat is confirmed! Your seat number is 1. Enjoy your movie
Please pick a price or press Q to quit: 20
Checking for the availability……
Your seat is confirmed! Your seat number is 33. Enjoy your movie
Please pick a price or press Q to quit: 20
Checking for the availability……
Your seat is confirmed! Your seat number is 34. Enjoy your movie
Please pick a price or press Q to quit: 200
Please pick a valid price. Valid prices are $10, $20, $30, $40, $50, and $80
Please pick a price or press Q to quit: Q
Thank you for using our online ticketing service. Goodbye!
In: Computer Science
In: Nursing
On December 31 of last year, Lauren burst into the family living room and announced that she and Connor (her college boyfriend) were going to be married. After recovering
from the shock, her mother hugged her and asked, “When?” The following conversation resulted:
Lauren: January 21.
Mom: What?
Dad: The Now Wedding will be the social hit of the year. Wait a minute. Why so soon?
Lauren: Because on January 30 Connor, who is in the National Guard, will be shipping out overseas. We want a week for a honeymoon.
Mom: But Honey, we can't possibly finish all the things that need to be done by then. Remember all the details that were involved in your sister's wedding?
Even if we start tomorrow, it takes a day to reserve the church and reception hall, and they need at least 14 days' notice. That has to be done before we can start decorating, which takes 3 days. An extra $200 on Sunday would probably cut that 14 day notice to 7 days, though.
Dad: Oh, boy!
Lauren: I want Jane Summers to be my maid of honor.
Dad: But she's in the Peace Corps in Guatemala, isn't she? It would take her 10
days to get ready and drive up here.
Lauren: But we could fly her up in 2 days and it would only cost $1,000.
Dad: Oh, boy!
Mom: And catering! It takes 2 days to choose the cake and decorations, and Jack's Catering wants at least 5 days' notice. Besides, we'd have to have those things before we could start decorating.
Lauren: Can I wear your wedding dress, Mom?
Mom: Well, we'd have to replace some lace, but you could wear it, yes. We could order the lace from New York when we order the material for the bridesmaids' dresses. It takes 8 days to order and receive the material. The pattern needs to be chosen first, and that would take 3 days.
Dad: We could get the material here in 5 days if we paid an extra $20 to airfreight it. Oh, boy!
Lauren: I want Mrs. Jacks to work on the dresses.
Mom: But she charges $48 a day.
Dad: Oh, boy!
Mom: If we did all the sewing we could finish the dresses in 11 days. If Mrs. Jacks helped we could cut that down to 6 days at a cost of $48 for each day less than 11 days. She is very good too.
Lauren: I don't want anyone but her.
Mom: It would take another 2 days to do the final fitting and 2 more days to clean and press the dresses. They would have to be ready by rehearsal night. We must have rehearsal the night before the wedding.
Dad: Everything should be ready rehearsal night.
Mom: We've forgotten something. The invitations!
Dad: We should order the invitations from Bob's Printing Shop, and that usually takes 7 days. I'll bet he would do it in 6 days if we slipped him an extra $20!
Mom: It would take us 2 days to choose the invitation style before we could order them and we want the envelopes printed with our return address.
Lauren: Oh! That will be elegant.
Mom: The invitations should go out at least 10 days before the wedding. If we let them go any later, some of the relatives would get theirs too late to come and that would make them mad. I'll bet that if we didn't get them out until 8 days before the wedding, Aunt Ethel couldn't make it and she would reduce her wedding gift by $200.
Dad: Oh, boy!!
Mom: We'll have to take them to the Post Office to mail them and that takes a day. Addressing would take 3 days unless we hired some part-time girls and we can't start until the printer is finished. If we hired the girls we could probably save 2 days by spending $40 for each day saved.
Lauren: We need to get gifts for the bridesmaids. I could spend a day and do that.
Mom: Before we can even start to write out those invitations we need a guest list. Heavens, that will take 4 days to get in order and only I can understand our address file.
Lauren: Oh, Mom, I'm so excited. We can start each of the relatives on a different job.
Mom: Honey, I don't see how we can do it. Why, I've got to choose the invitations and patterns and reserve the church and . . .
Dad: Why don't you just take $3,000 and elope. Your sister's wedding cost me $2,400 and she didn't have to fly people up from Guatemala, hire extra girls and Mrs. Jacks, use airfreight, or anything like that.
Considering the list of items Lauren and Mom plan for the wedding, identify a contingency plan for three key items essential to the wedding. The list may not include the three original items you suggested alternates for, but it may include the alternates since you may assume that Lauren loved your suggestions. Why are these items essential to the wedding and therefore in need of a contingency plan?
In: Operations Management
In: Accounting
What mathematical evidence can you provide to support the assertion that the universe is electrically neutral on large scales?
Ryden, Barbara. Introduction to Cosmology (p. 47). Cambridge University Press. Kindle Edition.
In: Physics
In: Accounting
Describe the impact that the Protestant Reformation had on the monopoly of power and influence of the Catholic church. What critical role did the recent invention of the movable printing press have on Martin Luther’s “accidental” revolution?
In: Psychology