Descriptive analysis project
Budget: $30 – $250 USD
I am looking for a data analyst to help with a descriptive analysis project. The ideal candidate should have experience in developing decision trees using precision tree.
Specifics:
- Type of Data Analysis: Statistical analysis, textual analysis, and visual analysis
- Dataset: The client already has a specific dataset in mind
- Desired Outcome: The analysis should inform decision-making
Skills and Experience:
- Proficiency in precision tree and decision tree development
- Experience in statistical analysis, textual analysis, and visual analysis
- Strong analytical skills to identify trends and predict future outcomes
- Ability to effectively communicate and present findings to inform decision-making
If you have the skills and experience required for this project, please submit your proposal.
ACTUAL INFORMATION FOR THE PROJECT:
In a summer plagued by drought and heat, many Southern crops are withering in the field. Some farmers are continuing to nurture their crops and hope for the best. Others have given up hope and decided to plow their crops under. Farmers already have $50/acre invested in seed, fertilizer, and labor. Continuing to nurture the crops will require another $15/acre. Abandoning the crops will cost nothing additional. The outcome will depend on the weather. Meterologists predict a 70% chance of favorable weather conditions and a 30% chance of unfavorable conditions. If conditions are good, farmers can expect revenue of $26/acre. If they are bad, even though the farmer has continued to nurture the crops, they can expect revenue of $12/acre.
Your high school friend and current farmer, Mike McDonald, has asked you to analyze the situation and prepare a report advising him of what he should do. The information for the project should include the following:
Develop a decision tree for the problem using Precision Tree and use and explain it in a report
What is the EMV of the tree?
What decision should the farmer take, based on EMV?
How much would the probability of favorable weather conditions have to change to alter recommended decision, holding all other information constant? Show a sensitivity analysis that spans this value.
How much would the revenue per acre change to alter recommended decision, holding all other information constant? Show a sensitivity analysis that spans this value.
What other considerations might Mikey need to take into account in making this decision?
I need to upload a spreadsheet and a report for Mike McDonald. Here are some hints to keep in mind:
Consider the nature of sunk costs
Consider that when you vary the probability of good weather, its complement must also vary
Consider that this is a very simple problem where you could sensitivity test the decision using either spreadsheet modeling or PrecisionTree.
You can copy the image of your tree for pasting into your report using these steps:
right click the decision node
choose "Tools" from the resulting menu
select "Copy Tree to Clipboard"
select "Entire Tree"
Specifics:
- Type of Data Analysis: Statistical analysis, textual analysis, and visual analysis
- Dataset: The client already has a specific dataset in mind
- Desired Outcome: The analysis should inform decision-making
Skills and Experience:
- Proficiency in precision tree and decision tree development
- Experience in statistical analysis, textual analysis, and visual analysis
- Strong analytical skills to identify trends and predict future outcomes
- Ability to effectively communicate and present findings to inform decision-making
If you have the skills and experience required for this project, please submit your proposal.
ACTUAL INFORMATION FOR THE PROJECT:
In a summer plagued by drought and heat, many Southern crops are withering in the field. Some farmers are continuing to nurture their crops and hope for the best. Others have given up hope and decided to plow their crops under. Farmers already have $50/acre invested in seed, fertilizer, and labor. Continuing to nurture the crops will require another $15/acre. Abandoning the crops will cost nothing additional. The outcome will depend on the weather. Meterologists predict a 70% chance of favorable weather conditions and a 30% chance of unfavorable conditions. If conditions are good, farmers can expect revenue of $26/acre. If they are bad, even though the farmer has continued to nurture the crops, they can expect revenue of $12/acre.
Your high school friend and current farmer, Mike McDonald, has asked you to analyze the situation and prepare a report advising him of what he should do. The information for the project should include the following:
Develop a decision tree for the problem using Precision Tree and use and explain it in a report
What is the EMV of the tree?
What decision should the farmer take, based on EMV?
How much would the probability of favorable weather conditions have to change to alter recommended decision, holding all other information constant? Show a sensitivity analysis that spans this value.
How much would the revenue per acre change to alter recommended decision, holding all other information constant? Show a sensitivity analysis that spans this value.
What other considerations might Mikey need to take into account in making this decision?
I need to upload a spreadsheet and a report for Mike McDonald. Here are some hints to keep in mind:
Consider the nature of sunk costs
Consider that when you vary the probability of good weather, its complement must also vary
Consider that this is a very simple problem where you could sensitivity test the decision using either spreadsheet modeling or PrecisionTree.
You can copy the image of your tree for pasting into your report using these steps:
right click the decision node
choose "Tools" from the resulting menu
select "Copy Tree to Clipboard"
select "Entire Tree"