QNT 351 Complete Class Week 1 – 5 All Assignments and Discussion Questions – A+ Graded Course Material

Week 1 Individual Assignment Statistics in Business

Define statistics.

Identify different types of statistics.

Describe the role of statistics in business decision making.

Write a 300-word summary providing at least three examples or problem situations in which statistics was used or could be used.


DQ1 Where would you see descriptive statistics used in your work place?

DQ2 How would you define dependent and independent variables? What is their significance in research? Explain with examples.

DQ3 Develop five demographic questions to measure gender, age, years of experience, level of education, and ethnicity. Identify the level of measurement used for each

DQ4 How would you define a variable? What is the difference between a dependent and independent variable? Do you think both variables are used in every research? Explain why or why not. Provide examples. 

DQ5 What is the importance of statistics in business decision making? Describe a business situation where statistics was used in making a decision.

DQ6 What are the four data measurement scales? Provide two examples and explain the importance of each in business research.


Week 2 Learning Team Assignment Data Collection & Calculation

Resources: University of Phoenix Material: Ballard Integrated Managed Services, Inc., Part 1

Review the Ballard Integrated Managed Services, Inc. (BIMS) case study overview.

Prepare a 700- to 1,050-word written report

Address the following:

Present the BIMS situation as an overview—problem, purpose, research questions, and hypotheses.

Describe the instrument used for data collection.

Identify types of data collected—quantitative, qualitative, or both—and how the data is collected.

Identify the level of measurement for each of the variables involved in the study.

Code the data if you have not done so. Describe how the data is coded and evaluate the procedure used.

Clean the data by eliminating the data input errors made.

Draw conclusions about appropriateness of data to meet the purpose of the study.

Note. As consultants to BIMS, your Learning Team is expected to prepare and deliver a professional product addressing the client's needs (in week4 you will prepare a power point presentation).

Week 2 Learning Team Assignment Problems

ResourceBasic Statistics for Business and Economics Chapter Problems; Chapter 2, 3, & 4.

Prepare answers to Chapter 2Problem #35 (page 48) parts a & c only; then prepare answers to Chapter 3 Problem #58 parts a & b; then prepare answers to Chapter 4 Problem #21 part a only.

Use Excel for all problem sets.

Requirements: All problems must be submitted in an Excel spreadsheet.

Show all details of your calculations.


DQ1 Can mean, median, or mode be calculated from all statistical data? Explain why or why not. When is the mean

the best measure of central tendency? When is the median the best measure of central tendency?

DQ2 Describe a business situation, other than what has already been selected by fellow students or selected from the team assignment, where mean and standard deviation can be used in decision making. Describe how calculation of mean and standard deviation can help in making a decision. 

DQ3 What level of data is a telephone number? Explain.

DQ4 Does all data have a mean, median, or mode? Why or why not? When is the mean the best measure of central tendency? When is the median the best measure of central tendency?

DQ5 Why is the population shape a concern when estimating a mean? What effect does sample size, n, have on the estimate of the mean?

 

Week 3 Learning Team Assignment Summarizing and Presenting Data

Revise the report submitted in Week Two based on the feedback provided by the instructor in the team assignment, and insight gained by reading.

Analyze the data included in BIMS case study Part 1 by computing descriptive statistics in the form of tables (such as frequency distribution table), charts/graphs, measures of central tendency (specifically: mean, median, mode), and variability (standard deviation).

Summarize the statistics in relation to the problem and research questions and draw conclusions.

 Prepare a 1,050- to 1,750-word report of conclusions drawn from the data and make recommendations to the management.

Support recommendations by citing literature consistent with APA guidelines.

Week 3 Individual Assignment Problems using Team Assigned Data

Resources: Week two team data as shown in Appendix A1 at the end of Basic Statistics for Business and Economics

Requirements: All problems must be submitted in an Excel spreadsheet.

Problem #1 Calculate using an Excel spreadsheet the mean, median, and STDEV for the team salary, home selling price, or annual wage with your team data base. (2 points)

Problem #2 Perform a thought experiment; you do not need to toss coins. Consider three coins sitting on the table all have the face down such as: TTT or TTH. Move one coin at a time to find a list of all possible outcomes or arrangements of the list to find the number of heads as 0, 1, 2, & 3. Your first move will show the arrangement TTH.

Answer the following:
(1) How many combinations can you find of 0 heads, 1 head, 2 heads, and 3 heads? First, please list all possible combinations of TTT, TTH, etc.
(2) What is the probability of zero heads, one head, two heads, and three heads? What is the sum total of all probabilities that you find?
(3) How would you suggest preparing a chart of Probability P(x) [y-axis] vs Number of Heads [x-axis]? (3oints)

Week 3 Individual Assignment Real Estate Data

Resources: Appendix A1 at the end of Basic Statistics for Business and Economics

Answer question 68 in the Data Set Exercises from Ch. 3 of Basic Statistics for Business and Economics.

Answer question 34 in the Data Set Exercises from Ch. 4 of Basic Statistics for Business and Economics.


DQ1 What are the differences between probability and coincidence? Can the probability be more than 1 or less than 0? Explain why or why not.

DQ2 What is the role of probability concepts in business decision-making? Provide specific examples.

DQ3 What are the basic differences between a discrete and a continuous distribution?

DQ4 What are the characteristics of standard normal distribution? Explain how to calculate the z-test static. Explain how a z-value is used to calculate the area under the distribution and the meaning of P(0 to z) when z = 1.96.


Week 4 Individual Assignment Problem Sets

Resources: E-textbook:  Basic Statistics for Business and Economics

Requirements: All problems must be submitted in an Excel spreadsheet.

Tabulate and Plot the John Ragsdale car sales data shown on page 168 of Ch. 6.(2 points)

Discuss the z-term used in standard normal distributions; explain each of the values shown in Equation 7-5 as presented in Ch. 7 on page 214. (2 points)

Answer questions 13 & 14 (parts a. only.) in the Data Set Exercises from Ch. 7, page 208 of Basic Statistics for Business and Economics. (2 points)

Answer question 1 (parts a. & c. only) in the Data Set Exercises from Ch. 10, page 300 of Basic Statistics for Business and Economics. (1 point)

Discuss and explain the difference between a one-tail and a two-tail hypothesis test. (1 point)

Week 4 Individual Assignment Real Estate Data

Resources: Appendix A1 at the end of Basic Statistics for Business and Economics

Answer question 60 (both parts a. and b.) in the Data Set Exercises from Ch. 6 of Basic Statistics for Business and Economics.

Answer question 54 (both parts a. and b.) in the Data Set Exercises from Ch. 7 of Basic Statistics for Business and Economics.

Week 4 Reflection Summary

Develop a strategy for the final Learning Team assignment, based on the feedback received and knowledge gained from readings and discussion. Select a level of significance, remembering Type I and Type II errors made in hypothesis testing for the Learning Team assignment. How can Type II errors in research project hypothesis testing be avoided?

Prepare a 1- to 3-page paper detailing the findings of your discussion.


DQ1 What are some terms related to hypothesis testing with which you are already familiar? Why do null and alternative hypotheses have to be mutually exclusive?

DQ2 Why does the significance level differ among industries? Will the null hypothesis be more likely to be rejected at α = 0.01 than α = 0.10? As the significance level increases to α = 0.10 from α = 0.01, which type error is more likely to occur? What can be done to reduce the likelihood of incurring this error?

DQ3 Please explain the five steps used in hypothesis testing. How does the five-step procedure for hypothesis testing differ when comparing two groups using a t- or z-test? How is the process similar?

DQ4 Please explain terms related to hypothesis testing; please explain null and alternate hypotheses, explain the difference between two different test statistics, then define the equations used in both.   Why do null and alternative hypotheses have to be mutually exclusive?

 

Week 5 Individual Assignment Problem Sets

Resources: E-textbook:  Basic Statistics for Business and Economics

Requirements: All problems must be submitted in an Excel spreadsheet.

Exe #1 Problem 35 in Ch. 5on page 152: Prepare answers to the following:  Consider a telephone company issue regarding a new exchange adding a 537 to an existing area in Phoenix AZ.  There are seven digits possible in the 537 numbers with the exchange being represented by the 537.  How many different possible numbers are there going to be for this new exchange?

Hint:  Please read again pages 148 through 150 in the resource e-textbook.  I am asking about the all unique possible telephone numbers for 537-xxxx where the xxxx’s are changing. (2 points)

Answer questions 9 & 10 in the Data Set Exercises from Ch. 6, page 177 of Basic Statistics for Business and Economics. (4 points)

Answer Self-Review from Ch. 7 exercise 7-3, calculate and show all work for parts a. & b. only see page 205. (4 points)

Answer question 40 in the Data Set Exercises from Ch. 10 page 315 of Basic Statistics for Business and Economics. (1 point)

Explain or define all of the terms utilized in Chart 10-7 as shown on page 304. (1 point)

Week 5 Individual Assignment Real Estate Data

Resources: Appendix A1 at the end of Basic Statistics for Business and Economics

Answer question 58 in the Data Set Exercises from Ch. 10 of Basic Statistics for Business and Economics.

Answer question 62 in the Data Set Exercises from Ch. 13 of Basic Statistics for Business and Economics.

Week 5 Learning Team Assignment Analyzing and Interpreting Data Paper and Presentation

If using RES/351 data:

Ask your instructor for specific information regarding the analysis you are required to perform for your data set.

Combine your Week Two Learning Team assignment and Week Three findings with Week Five findings and make a recommendation to the research problem.

Use the statistical tables given in the appendices of the textbook and a statistical analysis application: a Microsoft® Excel® spreadsheet, Minitab® statistical software, or SPSS™ software.

Prepare a 1,050- to 1,750-word written report along with a 7- to 9-slide Microsoft® PowerPoint® presentation for the senior management team to present your findings.

If using the Ballard Integrated Managed Services, Inc. (BIMS) case study overview:

Read the University of Phoenix Material: Ballard Integrated Managed Services, Inc., Part 2. Your team acts as a consultant group that analyzes and interprets this second set of data. The intent is to increase senior management’s understanding of the sources of employee dissatisfaction and to create a model that predicts employee resignation.

Combine your Week Two Learning Team assignment and Week Three findings with Week Five findings and make a recommendation to BIMS.

Use the statistical tables given in the appendices of the textbook and a statistical analysis application: a Microsoft® Excel® spreadsheet, Minitab® statistical software, or SPSS™ software.

Prepare a 1,050- to 1,750-word written report along with a 7- to 9-slide Microsoft® PowerPoint® presentation for the senior management team to present your findings (see Exhibit D for the data set of the second survey).

Note. As consultants to BIMS, your Learning Team is expected to prepare and deliver a professional product addressing the client’s needs.

  • Item #: 087

QNT 351 (Quantitative Analysis for Business) Complete Class A+

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