Category: s15-busad360

Lesson 15

Wed, Apr 1

Review:

  • Intro to Quality Control
  • Survey Reminder

Presentation:

Activity:

  • Create Flowchart for Blog Check #1, i.e., Lessons 1-4
  • Identify and list “bottlenecks” and “problem” areas

Assignment:

  • Read p 747-748, Ch 18.2 Process Analysis
  • Understand Figure 18.1 and 18.2, Flowchart symbols and example on p 748-749
  • Create Flowchart for Blog Check #2 (Lessons 6-12) using Google Slides (or similar)
  • Post the flowchart image to your blog.

 

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Final Project

Here are instructions for your Final Project.

[highlight color=”options: yellow, black”]Due date: Wed, Apr 29 at 5pm[/highlight]

Prepare an online profile (career-oriented) and use your blog as a work portfolio. Follow these steps.

  1. Create a LinkedIn profile (or use an existing LinkedIn profile).
    1. Build your profile, i.e., an online resume
    2. Connect to me on LinkedIn [optional]
  2. Identify a job advertisement of interest involving data analysis.
    1. Use SimplyHired or any other job posting service to find a job
    2. You don’t need to apply to the job or even qualify; just find an open position that looks interesting.
  3. Write a “Cover Letter” specifically for the position. The letter should be…
    1. Professionally written, i.e., relatively formal tone, check for typos, spelling errors and grammar.
    2. Describe the applicable data analysis skills you’ve acquired in this course.
    3. Save to PDF format for universal compatibility and easy printing.
    4. Only 1 page in length.
  4. Create a “Final Project” post on your blog.
    1. Link to your LinkedIn profile page.
    2. Link to the job description identified in Step #2.
    3. Link to the PDF file created in Step #3.
  5. Create a Twitter account (or use an existing Twitter account).
    1. Follow me on Twitter [optional]
    2. Compose a Tweet with a link to your “Final Project” blog page created in Step #4.
    3. Be sure to include @justinholman so I receive your tweet.
    4. Your tweet must be sent [highlight color=”options: yellow, black”]before the deadline[/highlight].

That’s it!

 

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Lesson 14

Mon, Mar 30

Review:

Presentation:

  • Intro to Quality Control
    • How to Assess Quality?
      • Product Quality
      • User Quality
      • Value Quality
    • Types of Quality Control (QC)
      • After-process QC
      • In-process QC
    • Quality “Buzzwords” in Corporate America
      • TQM – Total Quality Management
      • Six Sigma
      • Lean Manufacturing
      • Just-in-time Inventory

Assignment:

 

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Lesson 13

Wed, Mar 18

Review:

  • Exam 2

Presentation:

  • Multicollinearity
  • Residual Analysis

Assignment:

  • Have a great Spring Break!
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Exam 2 – Troubleshooting

Here are a few common issues people are running into:

  • When creating Dummy variables in Excel many are using the IF function but not getting it to work. You need to format the statement with double quotes around the neighborhood name like the following: =IF(G2=”Eastside”,1,0)
  • Non-numeric data found and LINEST() errors seem to be related to the use of Filters in combination with the Regression function. To remedy, follow these steps.
    1. Copy your data
    2. Paste (values only) into a brand new worksheet
    3. Re-run regression

 

Please let me know if there are other issues to post here.

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Exam 2 Review

Mon, Mar 9

Exam 2 Part 1

Part 2 (in-class) Review Topics

  • Regression Modeling
    • Trend Forecasting
    • Polynomial Regression
    • Multiple Regression
    • Indicator (Dummy) Variables
  • Regression Output
    • R-Squared
    • Coefficients > Equation
    • t-statistic and p-values
    • F-statistic and F significance
  • Forecast Error
    • MAD
    • MSE
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Exam 2 with Part 1 Instructions

Exam 2 information will be posted here. Check back for details.

  • Part 1 (take-home) details will be be announced in class on Wed/Thu Mar 4-5.
  • Part 2 (in-class) is scheduled for Wed/Thu Mar 11-12

Part 1 (take-home) Instructions:

Download Pueblo Real Estate Sales Data: Exam 2 Part 1 (MW 11am – the Google Sheet file was corrupt. Please use this file instead.)

There are 2 worksheets:

  • 2014 SF Sales (1,418 records)
  • 2015 YTD SF Sales (166 records)

Like Exam 1, the last digit of your PID determines which column of data you will use for the exam. If your PID ends in 3 your assigned column is “PID 3”. If your PID ends in 4 your assigned column is “PID 4”. And so on. Your assigned column has either a 1 or a 0 in each row. You will include each row listed with a 1 in your assigned column. You can ignore rows with a 0.

Use your assigned “2014 SF Sales” data to build a regression model (or a set of regression models) designed to accurately forecast “Selling Price”.

Use your assigned “2015 YTD SF Sales” data to test your regression model(s). Generate forecasts for each assigned row and compare forecast vs actual selling price in two ways:

  1. Create a scatter plot with “Actual” on the horizontal (x) axis and “Forecast” on the vertical (y) axis.
  2. Calculate MAD and MSE for your set of forecasts.

Deliverables:

  1. A set of descriptive statistics and graphs summarizing the 2014 data.
  2. Regression Output for your forecasting model(s).
  3. Scatter plot comparing Actual to Forecast selling prices.
  4. MAD and MSE calculations.
  5. 1-page “executive summary” describing your modeling process and results.

Think of this as a consulting project. You have been asked to develop a statistical model to forecast Single Family property sales in Pueblo. Part 1 is the initial report you will present to your client.

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