Explain variance and standard deviation. What do these terms describe about data? Show an example of variance and standard deviation using Excel and post the worksheet here.

1.Explain variance and standard deviation. What do these terms describe about data? Show an example of variance and standard deviation using Excel and post the worksheet here. Evaluate the worksheet of another student.

Please attach your Excel worksheet to your discussion. Student must use Excel to provide their data with variance/standard deviation calculations. Use any data set in our textbook but provide your own Excel functions/calculations for all total type fields.

2.Consider some of the financial decisions you have made in your life that resulted in a bad or good outcome. Share one of each with the class. Why was each decision good or bad? How could we better evaluate these decisions using calculations already covered in our course readings?

3.In your own words, please describe and explain regression to someone with no financial background. Why would we need to calculate regression? Please provide an example using data from an example in your book BUT use Excel to build the regression tables using the Data tab and Data Analysis ribbon. Review the worksheet of at least one other students and provide corrections if necessary.

VIP*** – Students MUST attach a copy of an Excel Worksheet where they have calculated regression using Excel’s Data Analysis to get full credit for their initial post.

4. Describe the various forecasting methods. What are the steps needed to develop a forecast? Explain how you could use Excel to help develop a forecast. Provide an example of an Excel forecast for a three year period on any one income statement or balance sheet account.

Please attach your Excel worksheet to your discussion. Student must use Excel to provide their forecast. Use one of the methods described in our textbook and use Excel functions/calculations for all total type fields.

5.Take a tour of the Internet and locate a MRP system that has not already been shared with the class. Tell us how this system can help alleviate one of the inventory problems identified in the chapter this week. Does your MRP system help with JIT as well? If so how? What kinds of calculations are needed in MRP and JIT?

6.Prepare a 500 word summary on the similarities and differences between minimization and maximization problems using LP. Post this by class day 2 and then discuss with the class.

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