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Chicago Assignment 1 – Critical Thinking – Data, Big Data and Accounting (25 Points) Consider this case and start talking with classmates to form teams of four per team. Your team has been hired by the city of Chicago to help forecast expenses for the Department of Transportation. The Chicago Department of Transportation (CDOT) is responsible for planning, designing, programming and constructing capital improvement projects throughout the City. CDOT projects include bridges, select subway and elevated transit stations, arterial streets, and viaducts. CDOT operates, repairs and maintains all movable bridges, streets, street signs, pavement markings, street and alley lights, and traffic signals. In the past, the city has primarily relied on past spending patterns to determine the budget for the following year. They have heard a lot about how “Big Data” can help in budgeting but they are unsure what that really means or what “Big Data” they could use for such analysis. They have turned to your team for help in this regard. Your team should review pages 93 – 99 of the City of Chicago 2018 Budget Overview to see what the city budgeted for 2018. This section includes the various divisions of the CDOT and the related expenditures. After review of the Budget Overview your team should think critically about the City’s request for help. Specifically, you should answer the following questions: 1. What is the purpose of the request? Help City of Chicago forecast expenses on transportation. 2. What is the main issue/question/problem? The possible costs on road restructure. Analysis with all possible related factors such as employee salaries, actual compellability on road construction, traffic hours etc. 3. What data would you collect and analyze to answer this question? * We would collect salary and expense data for the Chicago Fire Department in order to forecast Chicago’s transportation expenses. 4. What are the relevant concepts, etc. that should be considered? See what models used in historical analysis first. 5. What are some assumptions you need to make? 6. What are some potential consequences or implications of the analysis? Some potential variables can be effective or ineffective on predicting: (construction weather, worker’s mood) 7. What is the point of view? (You may want to refer back to the Thinker’s Guide to Analytical Thinking for inspiration.) *Your team may use any sources of data they feel are relevant and reliable. A helpful website of open data sets related to the city of Chicago can be found at: https://data.cityofchicago.org/ . However, do not limit your research to just this website. © 2017 Ann C. Dzuranin https://orcid.org/0000-0002-9196-9006 With Permissions, (Modified by Don Wengler) Required: Your team should turn in a word document that answers all the above questions. For question 3 above your team should include the link to the data source you are recommending with a brief explanation of why you believe the data should be included in the analysis. Only one submission per team – please include all team member names on the word document. Maximum size for teams is 4 people. Two teams will have 5 at the approval of the instructor. Submit your document via the assignment link on Blackboard by Friday, November 2, at 11:59 pm. © 2017 Ann C. Dzuranin https://orcid.org/0000-0002-9196-9006 With Permissions, (Modified by Don Wengler)
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