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Thanks for watching ! This video is supposed to be a short excel tutorial. There are other videos in the “Business Analytics” playlist that go over how to interpret sensitivity analysis etc.. Have you had a chance to review these videos? Happy to try and clarify specific concepts for you if helpful! Thanks again!

Thanks for watching! When you say “3 different types of transportation” do you mean, for example: truck, rail, air? If so you’re going to have more decision variables, transport arcs and add additional constraints. I hope this helps!

Thank you for watching! I hope you find the videos helpful!

Thank you for watching and for the compliment! I’m glad you find the videos helpful - please feel free to share this channel with your colleagues and professors!

Thank you! I have an exam tmr and your videos have been a huge help. Do u have any scatterplot videos?

@ do you have specific questions about scatterplots if I were to make one?

Thank you for watching! That is my mistake- I don’t know why i said 80 instead of 60 even after initially writing 60 degrees of freedom. Ultimately the difference is likely negligible but for the sake of accuracy the denominator should be 20 not 40. I’ll re-record the video to correct the mistake when I get a chance. See 4:26 instead the video for the denominator I’m speaking of. Thank you for catching this!

Thank you for watching for the compliment ! Unfortunately I don’t have any of these videos at this time but I’ll add them to the list of future videos! Thank you for the suggestion!

You're absolutely right- my mistake! I'll re-record a video with this corrected. A simple oversight there - thank you for flagging!

Thank you for your question. The formula stays the same. There is only the 'greater than' symbol for question 'f' given the way the question is formatted. Ultimately 'greater than' or 'greater than or equal to' will not have a meaningful difference, but the 'most right' answer is to leave it as 'greater than'. I hope this helps!

Thank you for your question. For questions related to specific courses and what you need to remember for your final vs. what is on your equation sheet (e.g., ADM2303) you are best to ask your professor/ instructor/ TA as I am not officially affiliated with the course. Relative to the equation itself, effectively, it is the same equation just using proportions instead of 'x'. In short, the z-equation is read: (Observed Value of 'X' minus Expected Value of 'X') divided by the Standard Deviation of 'X'. Here it's the Observed Proportion (i.e., p-hat) minus Expected Proportion (i.e., o)') divided by the Standard Deviation of the proportion of our sample. I hope this helps!

Update: I have made the final exam review available free of charge on the TH-cam channel! Best of luck! -Andrew

Thank you for watching! Unfortunately, I do not have any videos on scatter plots at this time. It's a good idea for a future video though! Thank you for this. In the spirit of helping you understand them better, here is a brief explanation of scatter plots: A scatterplot is a type of graph that displays the relationship between two quantitative variables. It uses points on a two-dimensional grid, where each point represents a pair of values: one plotted along the x-axis (horizontal) and the other along the y-axis (vertical). Scatterplots are widely used in data analysis to explore patterns, trends, and potential relationships between variables. Key Features of Scatterplots 1.Axes: The x-axis represents the independent variable, while the y-axis represents the dependent variable. 2. Points: Each point corresponds to an observation in the dataset, showing its values for both variables. 3. Trend: By observing the arrangement of points, you can identify patterns such as clustering, linear relationships, or dispersion. Interpreting Scatterplots - Direction: Determine the overall trend of the points. If the points tend to rise from left to right, it indicates a "positive relationship" (as one variable increases, the other also increases). If they fall from left to right, there is a "negative relationship" (as one variable increases, the other decreases). If no pattern emerges, the variables may be unrelated. - Strength: Look at how closely the points cluster around an imaginary line. A tight cluster suggests a strong relationship, while scattered points indicate a weak or no relationship. - Outliers: Identify any points that deviate significantly from the general trend. These may represent unique or anomalous cases worth investigating. Practical Example Imagine plotting study hours (x-axis) against exam scores (y-axis). If the points generally slope upward, you could conclude that increased study hours tend to result in higher scores. Scatterplots are invaluable for visualizing relationships and are often a precursor to more detailed statistical analysis, such as regression. I hope this helps! -Andrew

@@cedericksantos2860 thank you for your comment and for watching the videos! I’m thrilled to hear you find them helpful. The short answer is no. Effectively 3 variables would need to be plotted in 3 dimensions (x, y, z) and while potentially possible in excel would be very difficult to interpret. The graphical solution I’ve shared in previous videos is really only meant for two decision variables. I hope this helps!

Thank you for your question and for watching! I'm glad to hear you find them helpful. I think there might be some slight confusion here- 1c) is "less than" but the corresponding z-score was calculated to be -0.39? Happy to help clarify if you can provide additional details!

Thank you for watching! Unfortunately not at this time- definitely a good recommendation for a future video! -Andrew

Hi! Thank you for watching and for the question. You make an interesting observation, but the quoted flight time is 2 hours and 5 minutes (or 125 minutes). To the end, for question b "no more than 5 minutes late" reflects the possibility that the flight is: "early", "on-time" or "late" (but less than 5 minutes late). To this end, "d" is equal to 130 (i.e., 125 minutes + 5 minutes), "c" is equal to 120, "b" is always 140, and "a" is always 120. For question C. "More than 10 minutes late" reflects (125 minutes + 10 minutes) = 135 mins. Consequently, this should be interpreted as >=135 minutes. Within the bounds of our uniform distribution this would be P(135 <=x<=140). I hope this helps! -Andrew

@@AndrewScarffe Thank you for the clarification, i understand now

@@Hirunic4357 thank you for watching! I’m glad to hear you found the video helpful! Good luck with your studies! :)

Thank you for watching the video and I am glad to hear you find the video helpful. It is important to remember in this video we are working with the variables x_1 and x_2. You will see these variables are plotted on what is commonly referred to as the x and y axes. In video the variable x_1 is on the horizontal axis (i.e., commonly interpreted as the x-axis) and x_2 is on the vertical axis (i.e., commonly interpreted as the y-axis). When plotting the various constraints, you have the equation. For example: (2/5)x_1 + (1/2)x_2 <= 20 In this step wise approach we set x_1 as equal to zero and then x_2 as equal to zero. What this is effectively doing is finding the points where our line intercepts the x_1 and x_2 axis so we can plot our constraint. We plot our constraint by drawing a linear line through the two points. When x_1 is equal to 0 we are calculating the point where the line intercepts the x_2 axis. Alternatively, when x_2 is equal to 0 we are calculating the point where the line intercepts the x_1 axis. On a cartesian plane (i.e., with x and y axes). You might familiar to interpreting points as (x, y). In this case, you would interpret this as (x_1, x_2). I hope this helps make sense of things! Please let m know if you have any additional questions. Good luck! -Andrew

Thank you for watching and for your question! A geometric distribution will calculate the probability that you have your FIRST success on your ‘n’th trial (e.g., the probability that your first heads - on a flip of a coin- will be on your 5th attempt). Alternatively, a binomial distribution will provide you the probability that you have exactly x number of success given n trials (e.g., the probability you get exactly 3 heads given 10 trials of flipping the coin). I hope this helps clarify things!

@@AndrewScarffe thank you so much, now I get it

Thank you for watching! I’m glad you found the video helpful!

Thank you for watching and for the suggestion! Simply, discrete events are those type of events for which it would make sense to count by distinct values (e.g., number of cars in a parking lot, number of seeds that germinate, etc.). A continuous distribution is applied to measurement where the value can take on any value within a given range (e.g., temperature, height, time, etc.). I hope this is helpful and helps to clarify the concept!

@@AndrewScarffe it very much did, thank you so much!

Thank you for watching and for the complement! Please consider sharing this resource with your colleagues/ professors!

Definitely an important point to consider. It’s also relevant to consider that Boston was taking high quality shots on goal as determined by their mean shot angle. You raise a good point though that analytics need to consider (or at least mention) all the factors that might influence the game. Thanks for watching!

Thank you for watching and for your question. In this specific example the question stipulates that you cannot crash a single node by more than 2 days. I hope this helps!

@@AndrewScarffe Thank you so much!

My pleasure, thank you for watching! I’m glad to hear you found the video helpful!

You’re very welcome! Thank you for watching! I hope you’re finding the videos insightful and helpful for your purposes! If there are specific videos or topics you’d like to see on the channel please let me know :)

Thank you for watching! I'm glad to hear you found the videos helpful!

Thank you for watching! I'm glad to hear you found the videos helpful!

Yes! You would want to make sure your constraints still accurately reflect your decision problem and that your objective function (and decisions variables) are properly defined, but yes, a similar structure would work if you added a third product for your business. Thank you for watching!

Thank you for watching! I'm thrilled to hear the videos are helpful!

Unfortunately, there did not appear to be enough interesting in a review for 2304. If you know of a group of students who might be interested it is something we can explore though.

@@AndrewScarffe yes it would be very helpful as lectures this semester were not the most conclusive and every thing post midterm has been a lot of theory that I would love some of your insight on how to prepare for better!

When is your final?

@@AndrewScarffeit is tmrw morning, 9:30-12:30 just looking for last bit of review to clarify any errors I might be making!

I'm sorry I don't think I have enough time to pull together a review and advertise for enough people to be able to attend. Best of luck on your exam though! :)

I'm glad to hear you are finding the videos helpful- thank you for watching! I would encourage you to consult your course syllabus for an idea of the general topics that are covered in your course (professors sometimes change what content is covered). I would anticipate the beginning of "new" topics for ADM2304 to start around the videos related to "sampling distributions" (again consult your syllabus). Of course, ADM2303 and ADM2304 build on each other, so you can use the previous videos to familiarize yourself with concepts that are related (e.g., normal distributions, etc.). Good luck with your studying!

Thank you for watching! I am glad to hear you found the video helpful- good luck with your studies!

Thank you for the question. Question (c) is answered in two separate parts. The first part of question (c) answers the question of a 98% confidence interval with an increase in sample size (i.e., note the smaller standard error). The second part of question (c) calculates the 95% CI with the original sample size as stated in the original question. Of course, you could calculate the 95% CI with the new sample size if you wanted. Good luck!

Thank you for your question. If you follow the order of operations (0.45-0.55) and then divide by the SD(p-hat) = 0.02225. The resulting value is -4.49. I hope this helps! Best of luck!

Thank you for your comment and for watching. I will do my best to develop and upload new content over the coming weeks. Good luck with your studies!

Thank you for the kind words- I am glad these videos are helping support your learning in your other courses. I will do my best to continue to develop and upload new content over the coming weeks. Thank you for watching and good luck!

I’m thrilled to hear you’re feeling more confident with how to work with confidence intervals! Good luck with your studying!

Thank you for your support! I am thrilled to hear that you found the "short" helpful! Good luck with your studies!

Thank you for watching! I’m thrilled to hear you found the video helpful! Good luck!

Thank you for your comment and I am glad to hear you find the videos helpful. That is a good idea- I will spend sometime making videos showing how you can solve in excel! Thanks for the feedback! :)

You are absolutely right! I am sorry for the confusion- I grabbed the wrong z-score probability from the table. Look up 1.03 in the z table. Thank you for letting me know ! :)

Thank you! I'm glad you find the videos helpful. Good luck!

Thank you! I am glad you find the videos helpful. Good luck!

is this a formula that must be followed? whenever covariance is introduced or is this something unique to this problem?

@@strikerSMwhen you have two variables that have a correlation between them you need to account for this when calculating the standard deviation. This is the equation you would use to do that. I hope this helps!

@@AndrewScarffe understood, thank you !

Thank you so much! I’m glad you find the videos helpful and I certainly appreciate your support!

Thank you for your comment! I’m glad to hear that you found this video helpful! :)

Thank you! I appreciate your support!

I am glad to hear you found the video helpful! Please do continue to watch the other videos and leave comments when you find the videos helpful :) Thank you for watching and good luck on your exam!