The dataset ToyotaCorolla.jmp contains data on used cars on sale during the late summer of 2004 in the Netherlands. It has 1436 records containing details on 38 attributes, including Price, Age, Kilometers, HP, and other specifications.

Explore the data using the data visualization (e.g., Graph > Scatterplot Matrix and Graph > Graph Builder) capabilities of JMP. Which of the pairs among the variables seem to be correlated? (Refer to the guides and videos at jmp.com/learn, under Graphical Displays and Summaries, for basic information on how to use these platforms.)

We plan to analyze the data using various data mining techniques described in future chapters. Prepare the dataset for data mining techniques of supervised learning by creating partitions using the JMP Pro Make Validation Column utility (from the Cols menu). Use the following partitioning percentages: training (50%), validation (30%), and test (20%). Describe the roles that these partitions will play in modeling.

# Category: Numerical analysis homework help

You are a Business Analyst working for the ABC Ball Bearing company. An hour ago, you sent an order of 74 boxes of your A1 ball bearings to a customer on your delivery truck. You have just found out that your truck is going to go over a bridge that has a weight limit of 11,500 lbs. You need to determine if your truck will safely make it over the bridge. If you determine that the truck cannot make it over the bridge, you will need to call the driver and have him/her turn back.

The plant manager has told you that an empty delivery truck with the driver weights about 8500 lbs.

You have 30 boxes of the A1 ball bearings in your plant. You immediately had them weighed. The weights of the boxes are:

ASSIGNMENT QUESTIONS

1. What are the relevant factors to be considered for modeling a demand function for Maa mustard oil? How is each factor related to elasticities of demand? How does the estimation of demand function incorporate the impact of each factor using the multiple regression technique?

2. Analyze the estimated demand function and calculate the elasticities of demand for Hind Oil Industries’ product. What do these calculations suggest about the effects of changes in each of these variables?

3. What would be the impact of a price change by HOI on the total revenue of Maa mustard oil, keeping other variables constant?

4. What is the optimum price at which total revenue can be maximized for Maa mustard oil if the competitors’ prices do not increase in October 2015 (scenario l)? If competitors increase their prices by around 6 percent, as suggested in the case (scenario 2), what would be the optimum price? Does the company benefit if competitors increase their prices? Perform all calculations under the assumption of no increase in promotional expenditure in the next month and a 1-per-cent increase in the per capita income of consumers.

5. Plot a demand curve and a total revenue curve using the estimated values of quantity demanded from question 4. Analyze the findings of question 4 by using the concept of the total revenue test and the plotted graphs.