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The document provides information about the eBook 'Business Analytics 4th Edition' by Jeffrey D. Camm, available for instant PDF download. It includes a high rating of 4.8 out of 5.0 based on 47 reviews and outlines various educational resources and chapters covered in the book, such as data visualization, probability, and predictive data mining. The content is structured to aid in understanding business analytics concepts and applications.

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Collection Highlights

Business Analytics 3rd Edition Edition Jeffrey D. Camm

Business Analytics, 5e 5th Edition Jeffrey D. Camm

Data Visualization: Exploring and Explaining with Data 1st


Edition Jeffrey D. Camm

(eTextbook PDF) for Business Analytics 3rd Edition by


James R. Evans
An Introduction to Management Science: Quantitative
Approaches to Decision Making, 16e 16th Edition Jeffrey D.
Camm

(eTextbook PDF) for IT Strategy & Innovation 4th Edition


By James D. McKeen

Global Business 4th Edition by Mike W. Peng

An Introduction to Management Science: Quantitative


Approach 15th Edition David R. Anderson & Dennis J.
Sweeney & Thomas A. Williams & Jeffrey D. Camm & James J.
Cochran

Business Analytics : Global Edition James R. Evans


vi Contents

2.4 Creating Distributions from Data 30


Frequency Distributions for Categorical Data 30
Relative Frequency and Percent Frequency Distributions 31
Frequency Distributions for Quantitative Data 32
Histograms 35
Cumulative Distributions 38
2.5 Measures of Location 40
Mean (Arithmetic Mean) 40
Median 41
Mode 42
Geometric Mean 42
2.6 Measures of Variability 45
Range 45
Variance 46
Standard Deviation 47
Coefficient of Variation 48
2.7 Analyzing Distributions 48
Percentiles 49
Quartiles 50
z-Scores 50
Empirical Rule 51
Identifying Outliers 53
Boxplots 53
2.8 Measures of Association Between Two Variables 56
Scatter Charts 56
Covariance 58
Correlation Coefficient 61
2.9 Data Cleansing 62
Missing Data 62
Blakely Tires 64
Identification of Erroneous Outliers and Other Erroneous Values 66
Variable Representation 68
Summary 69
Glossary 70
Problems 71
Case Problem 1: Heavenly Chocolates Web Site Transactions 81
Case Problem 2: African Elephant Populations 82
Available in the MindTap Reader:
Appendix: Descriptive Statistics with R

Chapter 3 Data Visualization 85


3.1 Overview of Data Visualization 88
Effective Design Techniques 88
3.2 Tables 91
Table Design Principles 92
Crosstabulation 93

Copyright 2021 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s).
Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.
Contents vii

PivotTables in Excel 96
Recommended PivotTables in Excel 100
3.3 Charts 102
Scatter Charts 102
Recommended Charts in Excel 104
Line Charts 105
Bar Charts and Column Charts 109
A Note on Pie Charts and Three-Dimensional Charts 110
Bubble Charts 112
Heat Maps 113
Additional Charts for Multiple Variables 115
PivotCharts in Excel 118
3.4 Advanced Data Visualization 120
Advanced Charts 120
Geographic Information Systems Charts 123
3.5 Data Dashboards 125
Principles of Effective Data Dashboards 125
Applications of Data Dashboards 126
Summary 128
Glossary 128
Problems 129
Case Problem 1: Pelican stores 139
Case Problem 2: Movie Theater Releases 140
Appendix: Data Visualization in Tableau 141
Available in the MindTap Reader:
Appendix: Creating Tabular and Graphical Presentations with R

Chapter 4 Probability: An ­Introduction to ­Modeling


Uncertainty 157
4.1 Events and Probabilities 159
4.2 Some Basic Relationships of Probability 160
Complement of an Event 160
Addition Law 161
4.3 Conditional Probability 163
Independent Events 168
Multiplication Law 168
Bayes’ Theorem 169
4.4 Random Variables 171
Discrete Random Variables 171
Continuous Random Variables 172
4.5 Discrete Probability Distributions 173
Custom Discrete Probability Distribution 173
Expected Value and Variance 175
Discrete Uniform Probability Distribution 178
Binomial Probability Distribution 179
Poisson Probability Distribution 182

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Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.
viii Contents

4.6 Continuous Probability Distributions 185


Uniform Probability Distribution 185
Triangular Probability Distribution 187
Normal Probability Distribution 189
Exponential Probability Distribution 194
Summary 198
Glossary 198
Problems 200
Case Problem 1: Hamilton County Judges 209
Case Problem 2: McNeil’s Auto Mall 210
Case Problem 3: Gebhardt Electronics 211
Available in the MindTap Reader:
Appendix: Discrete Probability Distributions with R
Appendix: Continuous Probability Distributions with R

Chapter 5 Descriptive Data Mining 213


5.1 Cluster Analysis 215
Measuring Distance Between Observations 215
k-Means Clustering 218
Hierarchical Clustering and Measuring Dissimilarity
Between Clusters 221
Hierarchical Clustering Versus k-Means Clustering 225
5.2 Association Rules 226
Evaluating Association Rules 228
5.3 Text Mining 229
Voice of the Customer at Triad Airline 229
Preprocessing Text Data for Analysis 231
Movie Reviews 232
Computing Dissimilarity Between Documents 234
Word Clouds 234
Summary 235
Glossary 235
Problems 237
Case Problem 1: Big Ten Expansion 251
Case Problem 2: Know Thy Customer 251
Available in the MindTap Reader:
Appendix: Getting Started with Rattle in R
Appendix: k-Means Clustering with R
Appendix: Hierarchical Clustering with R
Appendix: Association Rules with R
Appendix: Text Mining with R
Appendix: R/Rattle Settings to Solve Chapter 5 Problems
Appendix: Opening and Saving Excel Files in JMP Pro
Appendix: Hierarchical Clustering with JMP Pro

Copyright 2021 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s).
Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.
Contents ix

Appendix: k-Means Clustering with JMP Pro


Appendix: Association Rules with JMP Pro
Appendix: Text Mining with JMP Pro
Appendix: JMP Pro Settings to Solve Chapter 5 Problems
Chapter 6 Statistical Inference 253
6.1 Selecting a Sample 256
Sampling from a Finite Population 256
Sampling from an Infinite Population 257
6.2 Point Estimation 260
Practical Advice 262
6.3 Sampling Distributions 262
Sampling Distribution of x 265
Sampling Distribution of p 270
6.4 Interval Estimation 273
Interval Estimation of the Population Mean 273
Interval Estimation of the Population Proportion 280
6.5 Hypothesis Tests 283
Developing Null and Alternative Hypotheses 283
Type I and Type II Errors 286
Hypothesis Test of the Population Mean 287
Hypothesis Test of the Population Proportion 298
6.6  Big Data, Statistical Inference, and Practical Significance 301
Sampling Error 301
Nonsampling Error 302
Big Data 303
Understanding What Big Data Is 304
Big Data and Sampling Error 305
Big Data and the Precision of Confidence Intervals 306
Implications of Big Data for Confidence Intervals 307
Big Data, Hypothesis Testing, and p Values 308
Implications of Big Data in Hypothesis Testing 310
Summary 310
Glossary 311
Problems 314
Case Problem 1: Young Professional Magazine 324
Case Problem 2: Quality Associates, Inc. 325
Available in the MindTap Reader:
Appendix: Random Sampling with R
Appendix: Interval Estimation with R
Appendix: Hypothesis Testing with R
Chapter 7 Linear Regression 327
7.1 Simple Linear Regression Model 329
Regression Model 329
Estimated Regression Equation 329

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Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.
x Contents

7.2 Least Squares Method 331


Least Squares Estimates of the Regression Parameters 333
Using Excel’s Chart Tools to Compute the Estimated Regression
Equation 335
7.3 Assessing the Fit of the Simple Linear Regression Model 337
The Sums of Squares 337
The Coefficient of Determination 339
Using Excel’s Chart Tools to Compute the Coefficient
of Determination 340
7.4 The Multiple Regression Model 341
Regression Model 341
Estimated Multiple Regression Equation 341
Least Squares Method and Multiple Regression 342
Butler Trucking Company and Multiple Regression 342
Using Excel’s Regression Tool to Develop the Estimated ­Multiple
Regression Equation 343
7.5 Inference and Regression 346
Conditions Necessary for Valid Inference in the Least Squares
­Regression Model 347
Testing Individual Regression Parameters 351
Addressing Nonsignificant Independent Variables 354
Multicollinearity 355
7.6 Categorical Independent Variables 358
Butler Trucking Company and Rush Hour 358
Interpreting the Parameters 360
More Complex Categorical Variables 361
7.7 Modeling Nonlinear Relationships 363
Quadratic Regression Models 364
Piecewise Linear Regression Models 368
Interaction Between Independent Variables 370
7.8 Model Fitting 375
Variable Selection Procedures 375
Overfitting 376
7.9 Big Data and Regression 377
Inference and Very Large Samples 377
Model Selection 380
7.10 Prediction with Regression 382
Summary 384
Glossary 384
Problems 386
Case Problem 1: Alumni Giving 402
Case Problem 2: Consumer Research, Inc. 404
Case Problem 3: Predicting Winnings for NASCAR Drivers 405
Available in the MindTap Reader:
Appendix: Simple Linear Regression with R

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Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.
Contents xi

Appendix: Multiple Linear Regression with R


Appendix: Regression Variable Selection Procedures with R

Chapter 8 Time Series Analysis and Forecasting 407


8.1 Time Series Patterns 410
Horizontal Pattern 410
Trend Pattern 412
Seasonal Pattern 413
Trend and Seasonal Pattern 414
Cyclical Pattern 417
Identifying Time Series Patterns 417
8.2 Forecast Accuracy 417
8.3 Moving Averages and Exponential Smoothing 421
Moving Averages 422
Exponential Smoothing 426
8.4 Using Regression Analysis for Forecasting 430
Linear Trend Projection 430
Seasonality Without Trend 432
Seasonality with Trend 433
Using Regression Analysis as a Causal Forecasting Method 436
Combining Causal Variables with Trend and Seasonality Effects 439
Considerations in Using Regression in Forecasting 440
8.5 Determining the Best Forecasting Model to Use 440
Summary 441
Glossary 441
Problems 442
Case Problem 1: Forecasting Food and ­Beverage Sales 450
Case Problem 2: Forecasting Lost Sales 450
Appendix: Using the Excel Forecast Sheet 452
Available in the MindTap Reader:
Appendix: Forecasting with R

Chapter 9 Predictive Data Mining 459


9.1 Data Sampling, Preparation, and Partitioning 461
Static Holdout Method 461
k-Fold Cross-Validation 462
Class Imbalanced Data 463
9.2 Performance Measures 464
Evaluating the Classification of Categorical Outcomes 464
Evaluating the Estimation of Continuous Outcomes 470
9.3 Logistic Regression 471
9.4 k-Nearest Neighbors 475
Classifying Categorical Outcomes with k-Nearest Neighbors 475
Estimating Continuous Outcomes with k-Nearest Neighbors 477

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Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.
xii Contents

9.5 Classification and Regression Trees 478


Classifying Categorical Outcomes with a Classification Tree 478
Estimating Continuous Outcomes with a Regression Tree 483
Ensemble Methods 485
Summary 489
Glossary 491
Problems 492
Case Problem: Grey Code Corporation 505
Available in the MindTap Reader:
Appendix: Classification via Logistic Regression with R
Appendix: k-Nearest Neighbor Classification with R
Appendix: k-Nearest Neighbor Regression with R
Appendix: Individual Classification Trees with R
Appendix: Individual Regression Trees with R
Appendix: Random Forests of Classification Trees with R
Appendix: Random Forests of Regression Trees with R
Appendix: R/Rattle Settings to Solve Chapter 9 Problems
Appendix: Data Partitioning with JMP Pro
Appendix: Classification via Logistic Regression with JMP Pro
Appendix: k-Nearest Neighbors Classification and Regression with JMP Pro
Appendix: Individual Classification and Regression Trees with JMP Pro
Appendix: Random Forests of Classification or Regression Trees with JMP Pro
Appendix: JMP Pro Settings to Solve Chapter 9 Problems

Chapter 10 Spreadsheet Models 509


10.1 Building Good Spreadsheet Models 511
Influence Diagrams 511
Building a Mathematical Model 511
Spreadsheet Design and Implementing the Model in a
Spreadsheet 513
10.2 What-If Analysis 516
Data Tables 516
Goal Seek 518
Scenario Manager 520
10.3 Some Useful Excel Functions for Modeling 525
SUM and SUMPRODUCT 526
IF and COUNTIF 528
VLOOKUP 530
10.4 Auditing Spreadsheet Models 532
Trace Precedents and Dependents 532
Show Formulas 532
Evaluate Formulas 534
Error Checking 534
Watch Window 535

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Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.
Contents xiii

10.5  Predictive and Prescriptive Spreadsheet Models 536


Summary 537
Glossary 537
Problems 538
Case Problem: Retirement Plan 544

Chapter 11 Monte Carlo Simulation 547


11.1 Risk Analysis for Sanotronics LLC 549
Base-Case Scenario 549
Worst-Case Scenario 550
Best-Case Scenario 550
Sanotronics Spreadsheet Model 550
Use of Probability Distributions to Represent Random
Variables 551
Generating Values for Random Variables with Excel 553
Executing Simulation Trials with Excel 557
Measuring and Analyzing Simulation Output 557
11.2 Inventory Policy Analysis for Promus Corp 561
Spreadsheet Model for Promus 562
Generating Values for Promus Corp’s Demand 563
Executing Simulation Trials and Analyzing Output 565
11.3 Simulation Modeling for Land Shark Inc. 568
Spreadsheet Model for Land Shark 569
Generating Values for Land Shark’s Random Variables 570
Executing Simulation Trials and Analyzing Output 572
Generating Bid Amounts with Fitted Distributions 575
11.4 Simulation with Dependent Random Variables 580
Spreadsheet Model for Press Teag Worldwide 580
11.5 Simulation Considerations 585
Verification and Validation 585
Advantages and Disadvantages of Using Simulation 585
Summary 586
Summary of Steps for Conducting a Simulation Analysis 586
Glossary 587
Problems 587
Case Problem: Four Corners 600
Appendix: Common Probability Distributions for Simulation 602

Chapter 12 Linear Optimization Models 609


12.1 A Simple Maximization Problem 611
Problem Formulation 612
Mathematical Model for the Par, Inc. Problem 614
12.2 Solving the Par, Inc. Problem 614
The Geometry of the Par, Inc. Problem 615
Solving Linear Programs with Excel Solver 617

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Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.
xiv Contents

12.3 A Simple Minimization Problem 621


Problem Formulation 621
Solution for the M&D Chemicals Problem 621
12.4 Special Cases of Linear Program Outcomes 623
Alternative Optimal Solutions 624
Infeasibility 625
Unbounded 626
12.5 Sensitivity Analysis 628
Interpreting Excel Solver Sensitivity Report 628
12.6 General Linear Programming Notation and More Examples 630
Investment Portfolio Selection 631
Transportation Planning 633
Maximizing Banner Ad Revenue 637
12.7  Generating an Alternative Optimal Solution for a Linear Program 642
Summary 644
Glossary 645
Problems 646
Case Problem: Investment Strategy 660

Chapter 13 Integer Linear ­Optimization Models 663


13.1 Types of Integer Linear Optimization Models 664
13.2 Eastborne Realty, an Example of Integer Optimization 665
The Geometry of Linear All-Integer Optimization 666
13.3  Solving Integer Optimization Problems with Excel Solver 668
A Cautionary Note About Sensitivity Analysis 671
13.4 Applications Involving Binary Variables 673
Capital Budgeting 673
Fixed Cost 675
Bank Location 678
Product Design and Market Share Optimization 680
13.5 Modeling Flexibility Provided by Binary Variables 683
Multiple-Choice and Mutually Exclusive Constraints 683
k Out of n Alternatives Constraint 684
Conditional and Corequisite Constraints 684
13.6 Generating Alternatives in Binary Optimization 685
Summary 687
Glossary 688
Problems 689
Case Problem: Applecore Children’s Clothing 701

Chapter 14 Nonlinear Optimization Models 703


14.1 A Production Application: Par, Inc. Revisited 704
An Unconstrained Problem 704
A Constrained Problem 705
Solving Nonlinear Optimization Models Using Excel Solver 707
Sensitivity Analysis and Shadow Prices in Nonlinear Models 708

Copyright 2021 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s).
Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.
Contents xv

14.2 Local and Global Optima 709


Overcoming Local Optima with Excel Solver 712
14.3 A Location Problem 714
14.4 Markowitz Portfolio Model 715
14.5 Adoption of a New Product: The Bass Forecasting Model 720
Summary 723
Glossary 724
Problems 724
Case Problem: Portfolio Optimization with Transaction Costs 732
Chapter 15 Decision Analysis 737
15.1 Problem Formulation 739
Payoff Tables 740
Decision Trees 740
15.2 Decision Analysis Without Probabilities 741
Optimistic Approach 741
Conservative Approach 742
Minimax Regret Approach 742
15.3 Decision Analysis with Probabilities 744
Expected Value Approach 744
Risk Analysis 746
Sensitivity Analysis 747
15.4 Decision Analysis with Sample Information 748
Expected Value of Sample Information 753
Expected Value of Perfect Information 753
15.5 Computing Branch Probabilities with Bayes’ Theorem 754
15.6 Utility Theory 757
Utility and Decision Analysis 758
Utility Functions 762
Exponential Utility Function 765
Summary 767
Glossary 767
Problems 769
Case Problem: Property Purchase Strategy 780

 ulti-Chapter Case ProblemS  


M
      Capital State University ­Game-Day Magazines 783
Hanover Inc. 785
           
Appendix A  Basics of Excel 787
Appendix B  Database Basics with Microsoft Access 799
Appendix C  Solutions to Even-Numbered Problems (MindTap Reader)
References 837
Index 839

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Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.
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Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.
About the Authors
Jeffrey D. Camm. is the Inmar Presidential Chair and Associate Dean of Business Analyt-
ics in the School of Business at Wake Forest University. Born in Cincinnati, Ohio, he holds
a B.S. from Xavier University (Ohio) and a Ph.D. from Clemson University. Prior to joining
the faculty at Wake Forest, he was on the faculty of the University of Cincinnati. He has also
been a visiting scholar at Stanford University and a visiting professor of business adminis-
tration at the Tuck School of Business at Dartmouth College.
Dr. Camm has published over 40 papers in the general area of optimization applied
to problems in operations management and marketing. He has published his research in
Science, Management Science, Operations Research, Interfaces, and other professional
journals. Dr. Camm was named the Dornoff Fellow of Teaching Excellence at the University
of Cincinnati and he was the 2006 recipient of the INFORMS Prize for the Teaching of
Operations Research Practice. A firm believer in practicing what he preaches, he has served
as an operations research consultant to numerous companies and government agencies. From
2005 to 2010 he served as editor-in-chief of Interfaces. In 2016, Professor Camm received
the George E. Kimball Medal for service to the operations research profession, and in 2017
he was named an INFORMS Fellow.

James J. Cochran. James J. Cochran is Associate Dean for Research, Professor of Applied
Statistics and the Rogers-Spivey Faculty Fellow at The University of Alabama. Born in Day-
ton, Ohio, he earned his B.S., M.S., and M.B.A. from Wright State University and his Ph.D.
from the University of Cincinnati. He has been at The University of Alabama since 2014 and
has been a visiting scholar at Stanford University, Universidad de Talca, the University of
South Africa and Pole Universitaire Leonard de Vinci.
Dr. Cochran has published more than 40 papers in the development and application of
operations research and statistical methods. He has published in several journals, including
Management Science, The American Statistician, Communications in Statistics—Theory
and Methods, Annals of Operations Research, European Journal of Operational Research,
Journal of Combinatorial Optimization, Interfaces, and Statistics and Probability Letters. He
received the 2008 INFORMS Prize for the Teaching of Operations Research Practice, 2010
Mu Sigma Rho Statistical Education Award and 2016 Waller Distinguished Teaching Career
Award from the American Statistical Association. Dr. Cochran was elected to the International
Statistics Institute in 2005, named a Fellow of the American Statistical Association in 2011,
and named a Fellow of INFORMS in 2017. He also received the Founders Award in 2014 and
the Karl E. Peace Award in 2015 from the American Statistical Association, and he received
the INFORMS President’s Award in 2019.
A strong advocate for effective operations research and statistics education as a means
of improving the quality of applications to real problems, Dr. Cochran has chaired teaching
effectiveness workshops around the globe. He has served as an operations research consultant
to numerous companies and not-for-profit organizations. He served as editor-in-chief of
INFORMS Transactions on Education and is on the editorial board of INFORMS Journal
of Applied Analytics, International Transactions in Operational Research, and Significance.

Michael J. Fry. Michael J. Fry is Professor of Operations, Business Analytics, and Infor-
mation Systems (OBAIS) and Academic Director of the Center for Business Analytics in
the Carl H. Lindner College of Business at the University of Cincinnati. Born in Killeen,
Texas, he earned a B.S. from Texas A&M University, and M.S.E. and Ph.D. degrees from
the University of Michigan. He has been at the University of Cincinnati since 2002, where
he served as Department Head from 2014 to 2018 and has been named a Lindner Research
Fellow. He has also been a visiting professor at Cornell University and at the ­University of
British Columbia.

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Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.
xviii About the Authors

Professor Fry has published more than 25 research papers in journals such as Operations
Research, Manufacturing & Service Operations Management, Transportation Science, Naval
Research Logistics, IIE Transactions, Critical Care Medicine, and Interfaces. He serves on
editorial boards for journals such as Production and Operations Management, INFORMS
Journal of Applied Analytics (formerly Interfaces), and Journal of Quantitative Analysis in
Sports. His research interests are in applying analytics to the areas of supply chain manage-
ment, sports, and public-policy operations. He has worked with many different organizations
for his research, including Dell, Inc., Starbucks Coffee Company, Great American Insurance
Group, the Cincinnati Fire Department, the State of Ohio Election Commission, the Cincin-
nati Bengals, and the Cincinnati Zoo & Botanical Gardens. In 2008, he was named a finalist
for the Daniel H. Wagner Prize for Excellence in Operations Research Practice, and he has
been recognized for both his research and teaching excellence at the University of Cincinnati.
In 2019, he led the team that was awarded the INFORMS UPS George D. Smith Prize on
behalf of the OBAIS Department at the University of Cincinnati.

Jeffrey W. Ohlmann. Jeffrey W. Ohlmann is Associate Professor of Business Analytics


and Huneke Research Fellow in the Tippie College of Business at the University of Iowa.
Born in Valentine, Nebraska, he earned a B.S. from the University of Nebraska, and M.S.
and Ph.D. degrees from the University of Michigan. He has been at the University of Iowa
since 2003.
Professor Ohlmann’s research on the modeling and solution of decision-making prob-
lems has produced more than two dozen research papers in journals such as Operations
Research, Mathematics of Operations Research, INFORMS Journal on Computing, Trans-
portation Science, and the European Journal of Operational Research. He has collaborated
with companies such as Transfreight, LeanCor, Cargill, the Hamilton County Board of Elec-
tions, and three National Football League franchises. Because of the relevance of his work
to industry, he was bestowed the George B. Dantzig Dissertation Award and was recognized
as a finalist for the Daniel H. Wagner Prize for Excellence in Operations Research Practice.

Copyright 2021 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s).
Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.
Preface
B usiness Analytics 4E is designed to introduce the concept of business analytics to under-
graduate and graduate students. This edition builds upon what was one of the first collec-
tions of materials that are essential to the growing field of business analytics. In Chapter 1, we
present an overview of business analytics and our approach to the material in this textbook. In
simple terms, business analytics helps business professionals make better decisions based on
data. We discuss models for summarizing, visualizing, and understanding useful information
from historical data in Chapters 2 through 6. Chapters 7 through 9 introduce methods for both
gaining insights from historical data and predicting possible future outcomes. C ­ hapter 10 cov-
ers the use of spreadsheets for examining data and building decision models. In Chapter 11,
we demonstrate how to explicitly introduce uncertainty into spreadsheet models through the
use of Monte Carlo simulation. In Chapters 12 through 14, we discuss optimization models
to help decision makers choose the best decision based on the available data. Chapter 15 is an
overview of decision analysis approaches for incorporating a decision maker’s views about
risk into decision making. In Appendix A we present optional material for students who need
to learn the basics of using Microsoft Excel. The use of databases and manipulating data in
Microsoft Access is discussed in Appendix B. Appendixes in many chapters illustrate the
use of additional software tools such as R, JMP Pro and Tableau to apply analytics methods.
This textbook can be used by students who have previously taken a course on basic
statistical methods as well as students who have not had a prior course in statistics. Business
Analytics 4E is also amenable to a two-course sequence in business statistics and analytics.
All statistical concepts contained in this textbook are presented from a business analytics
perspective using practical business examples. Chapters 2, 4, 6, and 7 provide an intro-
duction to basic statistical concepts that form the foundation for more advanced analytics
methods. Chapters 3, 5, and 9 cover additional topics of data visualization and data mining
that are not traditionally part of most introductory business statistics courses, but they are
exceedingly important and commonly used in current business environments. Chapter 10
and Appendix A provide the foundational knowledge students need to use Microsoft Excel
for analytics applications. Chapters 11 through 15 build upon this spreadsheet knowledge
to present additional topics that are used by many organizations that are leaders in the use
of prescriptive analytics to improve decision making.

Updates in the Fourth Edition


The fourth edition of Business Analytics is a major revision. We have added online appen-
dixes for many topics in Chapters 1 through 9 that introduce the use of R, the exceptionally
popular open-source software for analytics. Business Analytics 4E also includes an appendix
to Chapter 3 introducing the powerful data visualization software Tableau. We have further
enhanced our data mining chapters to allow instructors to choose their preferred means of
teaching this material in terms of software usage. We have expanded the number of concep-
tual homework problems in both Chapters 5 and 9 to increase the number of opportunities
for students learn about data mining and solve problems without the use of data mining soft-
ware. Additionally, we now include online appendixes on using JMP Pro and R for teaching
data mining so that instructors can choose their favored way of teaching this material. Other
changes in this edition include an expanded discussion of binary variables for integer optimi-
zation in Chapter 13, an additional example in Chapter 11 for Monte Carlo simulation, and
new and revised homework problems and cases.
●● Tableau Appendix for Data Visualization. Chapter 3 now includes a new appendix
that introduces the use of the software Tableau for data visualization. Tableau is a very
powerful software for creating meaningful data visualizations that can be used to dis-
play, and to analyze, data. The appendix includes step-by-step directions for generating
many of the charts used in Chapters 2 and 3 in Tableau.

Copyright 2021 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s).
Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.
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Discussion 1: Research findings and conclusions


Learning Objective 1: Research findings and conclusions
• Comparative analysis and synthesis
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 1: Diagram/Chart/Graph]
Learning Objective 2: Current trends and future directions
• Experimental procedures and results
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
[Figure 2: Diagram/Chart/Graph]
Learning Objective 3: Historical development and evolution
• Interdisciplinary approaches
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Learning Objective 4: Experimental procedures and results
• Interdisciplinary approaches
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Learning Objective 5: Interdisciplinary approaches
• Historical development and evolution
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 5: Diagram/Chart/Graph]
Example 5: Learning outcomes and objectives
• Ethical considerations and implications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Remember: Theoretical framework and methodology
• Fundamental concepts and principles
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Definition: Practical applications and examples
• Research findings and conclusions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Definition: Learning outcomes and objectives
• Theoretical framework and methodology
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Formula: [Mathematical expression or equation]
[Figure 9: Diagram/Chart/Graph]
Definition: Study tips and learning strategies
• Historical development and evolution
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Section 2: Experimental procedures and results
Note: Learning outcomes and objectives
• Historical development and evolution
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Remember: Study tips and learning strategies
• Theoretical framework and methodology
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Key Concept: Experimental procedures and results
• Experimental procedures and results
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 13: Diagram/Chart/Graph]
Example 13: Comparative analysis and synthesis
• Best practices and recommendations
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Definition: Research findings and conclusions
• Statistical analysis and interpretation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Key Concept: Best practices and recommendations
• Statistical analysis and interpretation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Note: Research findings and conclusions
• Experimental procedures and results
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 17: Diagram/Chart/Graph]
Important: Historical development and evolution
• Experimental procedures and results
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Important: Interdisciplinary approaches
• Experimental procedures and results
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 19: Diagram/Chart/Graph]
Note: Comparative analysis and synthesis
• Assessment criteria and rubrics
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Section 3: Case studies and real-world applications
Remember: Interdisciplinary approaches
• Assessment criteria and rubrics
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Remember: Critical analysis and evaluation
• Learning outcomes and objectives
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Example 22: Critical analysis and evaluation
• Comparative analysis and synthesis
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Example 23: Key terms and definitions
• Assessment criteria and rubrics
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Remember: Historical development and evolution
• Historical development and evolution
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
[Figure 25: Diagram/Chart/Graph]
Example 25: Ethical considerations and implications
• Comparative analysis and synthesis
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 26: Diagram/Chart/Graph]
Definition: Practical applications and examples
• Case studies and real-world applications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Important: Comparative analysis and synthesis
• Study tips and learning strategies
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Definition: Critical analysis and evaluation
• Comparative analysis and synthesis
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Definition: Literature review and discussion
• Literature review and discussion
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Part 4: Statistical analysis and interpretation
Note: Learning outcomes and objectives
• Study tips and learning strategies
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Remember: Current trends and future directions
• Experimental procedures and results
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 32: Diagram/Chart/Graph]
Important: Case studies and real-world applications
• Learning outcomes and objectives
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Formula: [Mathematical expression or equation]
Remember: Best practices and recommendations
• Historical development and evolution
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 34: Historical development and evolution
• Statistical analysis and interpretation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Note: Statistical analysis and interpretation
• Research findings and conclusions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Remember: Practical applications and examples
• Historical development and evolution
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Key Concept: Problem-solving strategies and techniques
• Study tips and learning strategies
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 38: Comparative analysis and synthesis
• Critical analysis and evaluation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 39: Case studies and real-world applications
• Experimental procedures and results
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 40: Diagram/Chart/Graph]
Introduction 5: Ethical considerations and implications
Remember: Research findings and conclusions
• Ethical considerations and implications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
[Figure 41: Diagram/Chart/Graph]
Definition: Theoretical framework and methodology
• Current trends and future directions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Note: Study tips and learning strategies
• Experimental procedures and results
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Example 43: Historical development and evolution
• Research findings and conclusions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Practice Problem 44: Theoretical framework and methodology
• Best practices and recommendations
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 45: Diagram/Chart/Graph]
Definition: Ethical considerations and implications
• Research findings and conclusions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Key Concept: Comparative analysis and synthesis
• Study tips and learning strategies
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Formula: [Mathematical expression or equation]
[Figure 47: Diagram/Chart/Graph]
Remember: Research findings and conclusions
• Key terms and definitions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Definition: Assessment criteria and rubrics
• Research findings and conclusions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Remember: Research findings and conclusions
• Study tips and learning strategies
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Methodology 6: Interdisciplinary approaches
Definition: Current trends and future directions
• Case studies and real-world applications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Key Concept: Key terms and definitions
• Statistical analysis and interpretation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Note: Theoretical framework and methodology
• Research findings and conclusions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 53: Diagram/Chart/Graph]
Example 53: Best practices and recommendations
• Best practices and recommendations
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 54: Diagram/Chart/Graph]
Example 54: Experimental procedures and results
• Problem-solving strategies and techniques
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Definition: Study tips and learning strategies
• Practical applications and examples
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Remember: Ethical considerations and implications
• Study tips and learning strategies
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Note: Theoretical framework and methodology
• Interdisciplinary approaches
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Key Concept: Statistical analysis and interpretation
• Problem-solving strategies and techniques
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Note: Research findings and conclusions
• Case studies and real-world applications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Exercise 7: Interdisciplinary approaches
Definition: Fundamental concepts and principles
• Practical applications and examples
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Key Concept: Case studies and real-world applications
• Current trends and future directions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Formula: [Mathematical expression or equation]
Practice Problem 62: Assessment criteria and rubrics
• Key terms and definitions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
[Figure 63: Diagram/Chart/Graph]
Note: Experimental procedures and results
• Study tips and learning strategies
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Note: Assessment criteria and rubrics
• Study tips and learning strategies
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Definition: Literature review and discussion
• Problem-solving strategies and techniques
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Note: Statistical analysis and interpretation
• Learning outcomes and objectives
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Formula: [Mathematical expression or equation]
Remember: Research findings and conclusions
• Historical development and evolution
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Example 68: Fundamental concepts and principles
• Fundamental concepts and principles
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Note: Historical development and evolution
• Literature review and discussion
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Formula: [Mathematical expression or equation]
Module 8: Literature review and discussion
Practice Problem 70: Best practices and recommendations
• Literature review and discussion
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Example 71: Key terms and definitions
• Critical analysis and evaluation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Key Concept: Best practices and recommendations
• Case studies and real-world applications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Key Concept: Practical applications and examples
• Current trends and future directions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Formula: [Mathematical expression or equation]
Note: Learning outcomes and objectives
• Comparative analysis and synthesis
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Remember: Interdisciplinary approaches
• Comparative analysis and synthesis
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 76: Current trends and future directions
• Current trends and future directions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Note: Ethical considerations and implications
• Experimental procedures and results
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Remember: Experimental procedures and results
• Statistical analysis and interpretation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 79: Key terms and definitions
• Practical applications and examples
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
[Figure 80: Diagram/Chart/Graph]
Conclusion 9: Current trends and future directions
Key Concept: Problem-solving strategies and techniques
• Experimental procedures and results
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Practice Problem 81: Best practices and recommendations
• Best practices and recommendations
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Definition: Historical development and evolution
• Problem-solving strategies and techniques
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
[Figure 83: Diagram/Chart/Graph]
Important: Current trends and future directions
• Best practices and recommendations
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Formula: [Mathematical expression or equation]
Practice Problem 84: Experimental procedures and results
• Study tips and learning strategies
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Important: Comparative analysis and synthesis
• Experimental procedures and results
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Definition: Fundamental concepts and principles
• Best practices and recommendations
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Key Concept: Problem-solving strategies and techniques
• Statistical analysis and interpretation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 88: Diagram/Chart/Graph]
Note: Fundamental concepts and principles
• Historical development and evolution
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Practice Problem 89: Theoretical framework and methodology
• Case studies and real-world applications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Methodology 10: Fundamental concepts and principles
Remember: Research findings and conclusions
• Historical development and evolution
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Example 91: Statistical analysis and interpretation
• Literature review and discussion
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Example 92: Best practices and recommendations
• Literature review and discussion
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Key Concept: Ethical considerations and implications
• Theoretical framework and methodology
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 94: Diagram/Chart/Graph]
Definition: Best practices and recommendations
• Key terms and definitions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Key Concept: Case studies and real-world applications
• Ethical considerations and implications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Important: Case studies and real-world applications
• Experimental procedures and results
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Formula: [Mathematical expression or equation]
Note: Statistical analysis and interpretation
• Fundamental concepts and principles
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Definition: Research findings and conclusions
• Critical analysis and evaluation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Definition: Problem-solving strategies and techniques
• Theoretical framework and methodology
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Quiz 11: Critical analysis and evaluation
Key Concept: Learning outcomes and objectives
• Critical analysis and evaluation
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 101: Diagram/Chart/Graph]
Important: Problem-solving strategies and techniques
• Fundamental concepts and principles
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Note: Best practices and recommendations
• Fundamental concepts and principles
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Practice Problem 103: Historical development and evolution
• Experimental procedures and results
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Definition: Ethical considerations and implications
• Practical applications and examples
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Definition: Practical applications and examples
• Fundamental concepts and principles
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Practice Problem 106: Study tips and learning strategies
• Learning outcomes and objectives
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Remember: Fundamental concepts and principles
• Interdisciplinary approaches
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Important: Interdisciplinary approaches
• Case studies and real-world applications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Note: Learning outcomes and objectives
• Ethical considerations and implications
- Sub-point: Additional details and explanations
- Example: Practical application scenario
Formula: [Mathematical expression or equation]
Lesson 12: Experimental procedures and results
Practice Problem 110: Literature review and discussion
• Assessment criteria and rubrics
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Formula: [Mathematical expression or equation]
Key Concept: Statistical analysis and interpretation
• Study tips and learning strategies
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Note: Problem-solving strategies and techniques
• Learning outcomes and objectives
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Example 113: Key terms and definitions
• Historical development and evolution
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Important: Ethical considerations and implications
• Study tips and learning strategies
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 115: Diagram/Chart/Graph]
Important: Critical analysis and evaluation
• Historical development and evolution
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 116: Diagram/Chart/Graph]
Example 116: Research findings and conclusions
• Current trends and future directions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
Key Concept: Theoretical framework and methodology
• Key terms and definitions
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
[Figure 118: Diagram/Chart/Graph]
Definition: Key terms and definitions
• Literature review and discussion
- Sub-point: Additional details and explanations
- Example: Practical application scenario
- Note: Important consideration
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