Week 3 Project Stat 3001 Student Name Type Your Name Here

Week 3 Project Stat 3001student Name Type Your Name Heredatee

Analyze Data Instructions Answers 1. Open the file CAR MEASUREMENTS using menu option Datasets and then Elementary Stats, 13th Edition . This file contains some information about different cars.

How many observations are there in this file? 2-7 Analyze the data in this file and complete the following table, indicating for each variable what type of data it represents. Variable Qualitative/ Quantitative Discrete/ Continuous/ Neither Level of Measurement 1. Car 2. Length 3.

Cylinders 4. Size 5. Braking 8. Would you consider this data to represent a sample or a population? Part II.

ScatterPlots 9. Create a scatterplot for the data in the Weight and Braking columns. Paste it here. You may need to resize the plot once it is in this file. 10.

Explain the visual relationship between Weight and Braking distance of the cars. 11. Create a scatterplot for the data in the Weight and the City MPG columns. Paste it here. You may need to resize the plot once it is in this file.

12. Explain the visual relationship between Weight and City MPG. Part III. Correlation 13. Using Stat Disk, calculate the linear correlation between the data in the Weight and Braking columns.

List the steps used for the calculation and give the resulting correlation coefficient. 14. Explain the mathematical relationship between Weight and Braking based on the linear correlation coefficient. Be certain to include comments about the magnitude and the direction of the correlation. 15.

List the sample size and the degrees of freedom for this computation. 16. Using Stat Disk, calculate the linear correlation between the data in the Weight and City MPG columns. 17. Compare and contrast these two relationships: Weight and Braking distance Weight and City MPG How are they similar?

How are they different? [Hint: Read Page 290 “Types of Correlationâ€] Part IV. Simple Regression Let’s say that we wanted to be able to predict the Braking distance in feet for a car based on its weight in pounds. Using this sample data, perform a simple-linear regression to determine the line-of-best fit. Use the Weight as your x (independent) variable and braking distance as your y (response) variable. Use 4 places after the decimal in your answer.

18. Paste your results here: Answer the following questions related to this simple regression 19. What is the equation of the line-of-best fit? Insert the values for bo and b1 from above into y = bo + b1x. 20.

What is the slope of the line? What does it tell you about the relationship between the Weight (Pounds) and Braking distance (Feet) data? Be sure to specify the proper units. 21. What is the y-intercept of the line?

What does it tell you about the relationship between the Weight and Braking distance? 22. What would you predict the Braking distance would be for a car that Weighs 2650 pounds? Show your calculation. 23.

Let’s say you want to buy a muscle car that Weighs 4250 pounds. What effect would you predict this would have on the braking distance of the car? Relate this to the Braking distance you found for a car weighing 2650 pounds in the previous question. 24. Find the coefficient of determination (R2 value) for this data.

What does this tell you about this relationship? [Hint: see definition on Page 311.] Part V. Multiple Regression Let’s say that we wanted to be able to predict the city miles per gallon for a car using · Weight in pounds · Length in inches · Cylinders Using this sample data, perform a multiple-regression using Weight, Length, Cylinder, City. Select City (Column 8) as your dependent variable. 25. Paste your results here: 26.

What is the equation of the line-of-best fit? The form of the equation is Y = bo + b1X1 + b2X2 + b3X3 (fill in values for bo, b1, b2, and b3). [Round coefficients to 3 decimal places.] 27. What would you predict for the City MPG earnings of a car whose · Weight is 3410 pounds · LENGTH is 130 inches · Cylinders is . What is the R2 value for this regression? What does it tell you about the regression?

Submit your final draft of your Word file by going to Week 3, Project, and follow the directions under Week 3 Assignment 2Please use the naming convention "WK3Assgn2+first initial+last name" as the Submission Title. 4 SUBURBAN HOMES CONSTRUCTION PROJECT Purchasing a new home is the single largest investment most of us will make in our lifetime. You can either purchase the home from a reputed real estate building company or manage the construction of your home using project management principles that you have mastered. The latter approach can save significant amounts of money over the life of a typical 30-year mortgage. Additionally, it is likely to provide you with one of the most satisfying experiences in your life because you will get an opportunity to see the results of choices you made in building your home.1 However, on the downside, if you manage the project poorly, it also has the potential on many levels to be a disaster.

The experience of managing the construction of a single-family home provides a coherent account of costs, benefits, other considerations related to construction, risks, hazards, and critical decisions. The experience also has the potential for joy if the project is a successful endeavor. Suburban Homes is a medium-sized, fast-growing con- struction company in the Midwest region of the United States. Due to its significant growth and good reputation for building quality single-family homes and townhomes, the company decided to expand its business to several Southern states in the United States. However, Suburban Homes rec- ognized the scope for managing resources effectively and efficiently to increase profits.

It has decided to formalize proj- ect management practices by developing and implementing standard and promising processes, tools, and techniques. For this purpose, the company was looking for a competent project manager to manage its projects. They hired Adam Smith as their new project manager. Adam Smith had worked for several years in the construc- tion industry and supplemented his experience with project management education. Consequently, he gained considerable experience and developed expertise in managing construction projects.

Adam believes in managing projects by adhering to various project management processes, tools, and techniques. In his new position as the project manager, Adam s primary task is to improve the performance of project management and increase the project success rate. Suburban Homes, like any other real estate company, has many strategic directions to pursue to expand the company operation and increase revenue and profits. To explore and pursue various investment opportunities that would eventually translate into projects, the company developed strategic directions to suc- cessfully invest in real estate. It identified six options for portfolio project management.

They are investments in purchasing land for future development, communities for single-family homes, multifamily properties, small-scale apartment buildings, large- scale apartment complexes, and commercial investments. 1. Purchasing land in areas that have potential for future growth makes sense, as the cost of land tends to be sub- stantially cheaper 10 20 years before it is turned into a developed suburban area. At an appropriate opportunity, the land can be improved to add value, or it can be leased or rented to create cash flow. Further, the land can be divided and parts of it can be sold for a profit.

However, this option requires a vision for future growth and devel- opment and consequently, risks are also associated with this strategic direction. 2. Building single-family homes in suburban areas is one of the best and most popular strategic directions for growth for companies like Suburban Homes. Most of the clients who are interested in a quality life and view their home as an investment prefer buying single-family homes. Clients realize that it is easy to rent, sell, and finance.

3. Small multifamily properties usually consist of two to four units. They also present similar advantages that are asso- ciated with a single-family home such as easy financing and being a wise investment option for clients while pro- viding a good residence for their family. 4. Small apartment buildings usually consist of 5 to 50 units for clients to reside in.

They are more popular among those who prefer urban areas and a busy social life. Clients are usually unmarried or married with no children. These properties can be more difficult to finance because they rely on commercial lending standards. For this invest- ment option, Suburban Homes must look for investment opportunities closer to densely populated areas, and the investor must provide parking areas. 5.

Large apartment complexes require that you include pools, a gym, tennis courts, and parking facilities, in addition to other attractions that lure people to choose the complex as a residence. Such a complex requires full-time staff to manage the property, provide safety and security, and pro- vide good customer service. These properties can be very expensive to purchase. However, this investment option provides steady revenue flow. 6.

Commercial investment, in its truest sense, is an invest- ment for growth and diversity in a portfolio. The aim of this investment is to lease the property for business. Size, style, and purpose also vary. Clients could range from small business owners to large malls and mega office complexes. This investment option offers a con- sistent cash flow.

However, occupancy would depend largely on the local economy and could prove to be risky. Further, investments are of higher magnitude and Suburban Homes is seriously considering this option after establish- ing steady growth in the residential market and improving their financial stability and growth. Given these six options, Suburban Homes has approached you to develop a project selection model to maintain a balanced portfolio a medium-sized company, is rapidly ex- panding its business to southern states and is focused on main- taining its status as the fastest-growing construction company in the Midwest region of the United States. Its significant growth and good reputation for building quality single-family homes and townhomes presents both challenges and opportunities.

Suburban Homes is considering various options to expand its operations while retaining its focus on managing resources effectively and efficiently to increase profits: Given the nature of its projects, Suburban Homes is con- sidering either a projectized or matrix organization struc- ture. However, a functional organization structure has not been ruled out. With its focus on maintaining high quality in its construction tasks and end-product (home for the customer) as well as quality assurance in implementing project management pro- cesses, the company is actively considering a combination of the DMAIC model with a traditional project life-cycle approach. Organization culture plays an important role in sustaining and promoting efficiency.

The culture, in turn, is influenced by the organization structure. Suburban Homes is highly committed to employee development and functional exper- tise through training, mentoring, and collaborative learning. Which type of organization structure is more suitable as Suburban Homes opens new offices in other states? What is your advice to the company to address all these issues com- prehensively and coherently? Suburban Homes, a medium-sized, fast-growing construction company, has an ambitious plan to expand its business to several southern states in the United States as a result of its significant growth and good reputation for building quality single-family homes and townhomes.

As a project manager, Adam Smith worked for several years in the construction industry and supplemented his experience with project management education. From his ini- tial realization that managing projects successfully requires implementation of various project management processes, tools, and techniques, Adam recognized the importance of building project teams composed of well-trained staff. From his experience managing a few projects in the Midwest and based on the lessons learned from these projects, it was evi- dent to Adam that Suburban Homes did not place a strong emphasis on people-related factors and team development. Adam recognized the scope for improvement in managing and developing high-performance teams and decided to act on this knowledge immediately.

Adam s primary task was to improve the performance of project management and increase the project success rate, so he wanted to address project team selection and the team development processes. Further, he realized that employee turnover and the expansion of the business in southern states led Suburban Homes to recruit more employees. Many of these new recruits have prior experi- ence in the construction industry. In addition, the workforce now represents different work cultures, attitudes, commit- ment, and work ethics. Adam recognized the immediate need to manage human resources effectively and efficiently.

He decided to formalize project team selection, development, and management so that all the locations in the Midwest and South will have sim- ilar team management philosophy and practices. To achieve these purposes, Adam has considered the following: 1. Train project managers as leaders. Also, project managers must be trained to identify talent, select project team members, and nurture their growth. 2.

Develop a team charter so that all the team members are aware of performance expectations, professional behavior, and other team norms. The charter should also help in training newly recruited employees to improve productivity, collaboration, coordination, communications, and conflict resolution. 3. Develop a conflict management plan and prepare guide- lines for all employees to identify and manage conflicts. 4.

Design and implement a decision-making protocol for all the projects and in all locations. 5. Develop norms for high-performing teams. You are hired as a consultant to develop the above five deliverables. Suburban Homes realizes the importance of maintaining excellent relations with all its key stakeholders.

Among the stakeholders are clients who purchase homes, local law enforcement agencies, potential buyers, county and state agencies for real estate development, environmental regula- tory agencies, both local and federal, community leaders, contractors, subcontractors, local construction material sup- pliers, and the list goes on. Suburban Homes decided to build a new community of 120 homes in a suburb of Atlanta. It has acquired 15 acres of land for this purpose. It also has submitted a preliminary plan to the local county government for approval. Suburban Homes is thinking of hiring a consultant for developing a stakeholder management plan and communication plan.

For its stakeholder management plan, they would like to identify all the stakeholders and develop a stakeholder register. Further, it is considering selection of at least six key stakeholders for a detailed analysis of a priori- tization matrix, as shown Exhibit 6.2, and to develop a stake- holder matrix, as shown in Exhibit 6.4. As a consultant to Suburban Homes, you are asked to develop a stakeholder engagement plan (Exhibit 6.5) and a comprehensive stakeholder management plan after developing the stakeholder prioritization matrix and stakeholder matrix, as shown in Exhibits 6.2 and 6.4, respectively. Using the stakeholder management plan, the company has also requested you to develop a communication plan that makes use of Exhibits 6.8 and 6.9.