Define statistics.

Statistics in Business

Write a 300-word summary that addresses the following criteria:

 

• Define statistics.

 

• Identify different types and levels of statistics.

 

• Describe the role of statistics in business decision-making.

 

• Provide at least two examples or problem situations in which statistics was used or could be used.

 

Format your summary consistent with APA guidelines.

 

Click the Assignment Files tab to submit your assignment.

 

 

 

QNT275 Statistics for Decision Making

 

Week 2 Assignment  

 

Business Problem

 

Prepare a paper examining a business problem confronting your organization or an organization you know of that you feel could be addressed through the application of the business research process. Describe the problem.

 

Then present the research purpose and one research question addressing an aspect of this problem. The question must contain the variable you will measure. Discuss the measured variable. Use the business research problem sample I2 as a guide. This paper should be between 300-600 words. Post to the individual assignment forum. Title the document file “Business Statistics Research Problem I2”.

 

QNT275 Statistics for Decision Making

 

Week 3 Assignment  

 

Descriptive Statistics

 

Identify a research problem different from the previous research problems that uses two different sets of the same type of data. You may use any business subject. Some examples: Sales from two different months or years. GPA’s of men and women. Number of two different shelf items sold (Coke & Pepsi) by month over a year. Home sales prices in different suburbs, cities, counties or states. You wish to determine if there is a significant difference between the means of the data sets.

 

Select data that have absolute zero measurements (Ratio data). You may use recorded data or made up data. The n sample size should be at least 10 in each set, but not more than 29.

 

Prepare a paper describing the research problem, research purpose and one research question.

 

Define the variable.

 

Discuss the type of data and determine the level of measurement.

 

List the data. List alpha, the null and alternative hypothesis, and give a brief back ground. Using either Megastats or Analysis ToolPak do descriptive statistics on the data and do data analysis describing the data. Do runs plot graphs.

 

Interpret the Goodness of Fit (GOF) p-value to decide if the data is parametric (normal) or nonparametric.

 

Conclude. Use the sample I3 Descriptive Statistics as a guide.

 

This paper should be between 700-1000 words.

 

Post as an Individual Assignment. Title the document file “Descriptive Statistics I3”.

 

 

 

QNT275 Statistics for Decision Making

 

Week 4 Assignment  

 

t-test

 

Identify a research problem different from the previous research problems that uses two different sets of the same type of data. You may use any business subject.

 

Some examples: Sales from two different months or years. GPA’s of men and women. Number of two different shelf items sold (Coke& Pepsi) by month over a year. Home sales prices in different suburbs, cities, counties or states. You wish to determine if there is a significant difference between the means of the data sets. Select data that have absolute zero measurements (Ratio data). You may use recorded data or made up data. The n sample size should be at least 10 in each set, but not more than 29. Prepare a paper with a table of contents.

 

Describe the research problem, research purpose and one research question. Define the variable. Discuss the type of data and determine the level of measurement. List the data. List alpha, the null and alternative hypothesis, and give a brief back ground. Using either Megastats or Analysis ToolPak do descriptive statistics on the data and do data analysis describing the data. Do runs plot graphs. Interpret the Goodness of Fit (GOF) p-value to decide if the data is parametric (normal) or nonparametric. t-test: Open Excel, log in both data sets. Go to Add Ins, or Analysis ToolPak, Hypothesis Tests, Compare Two Independent Groups, (Assuming Equal Variances) left mouse click highlight Group 1 then Group 2, OK. Conclude. Use the I4 sample as a guide. This paper should be between 900-1200 words. Post as an Individual assignment. Title the document file “t-test I4”.

 

 

 

QNT275 Statistics for Decision Making

 

Week 5 Assignment  

 

CLO Business Decision Making Project, Part 3

 

Option#1: Bank of America Presentation

 

Option#2: Staples, Inc. Presentation

 

Option#3: Harris Bank Presentation

 

Prepare an 11- to 15-slide Microsoft PowerPoint presentation for the senior management team based on the business problem or opportunity you described in Weeks 3-4.

 

Include on the slides what you’d want the audience to see (include appropriate visual aids/layout) and include in the Speaker’s Notes section what you’d say as you present each slide. If any source material

 

is quoted or paraphrased in the presentation, use APA citations and references.

 

Draw on material you developed in the Weeks 3-4 assignments.

 

Include the following in your presentation:

 

• Introduction slide

 

• Agenda slide

 

• Describe the organization, with a brief description

 

• Explain the business problem or opportunity

 

• Analyze why the business problem is important

 

• Identify what variable would be best to measure for this problem. Explain why.

 

• Apply data analysis techniques to this problem (tell which techniques should be used: descriptive stats, inferential stats, probability, linear regression, time series). Explain why.

 

• Apply a possible solution to the problem/opportunity, with rationale.

 

• Evaluate how data could be used to measure the implementation of such a solution.

 

• Conclusion

 

• References slide (if any source material is quoted or paraphrased throughout the presentation)

 

Format your assignment consistent with APA guidelines.

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