Business Decision Making Project Assignment
The purpose of this assignment is to provide students the opportunity to demonstrate mastery of their ability to apply statistical concepts to business situations to inform data-driven decision-making. Identify the organization, problem, research variable, methods for collecting data, and show mastery of validity and reliability as applied to data-collection methods.
Preparation: Watch this video so you will have a better understanding of the type of question/issue would lend itself to statistical evaluation.
Assignment Steps
Identify a business problem or opportunity at a company where you work or with which you are familiar. This will be a business problem you use for the individual assignments in Weeks 3-5. It should be a problem/opportunity for which gathering and analyzing some type of data would help you understand the problem/opportunity better. NOTE: do not gather any data or attempt to actually analyze any. This should focus on the concepts in an applied situation.
Develop 10-12 slide PPT presentation with speaker's notes to describe a company, problem, and variable including the following in your submission:
• Identify the name and description of the selected company.
• Describe the problem at that company.
• Identify one qualitative and one quantitative research variable that would help you come up with a possible solution to the problem. What makes them qualitative and quantitative respectively. Why are they important to solving the problem?
• Describe the sampling methods you would use to minimize sampling and nonsampling errors.
• Explain how you could analyze the data from either of your variables, using each of these analytical tools. What would you learn from each technique? (Make sure you address every single one and discuss the application. The objective is not to describe the method, but to demonstrate you know how to apply the method and what you could learn using it). If you don't think a specific method will not work with the data, explain why.
1. Pie, Bar, or Histogram chart
2. Relative Frequency chart
3. Measures of central tendency and of dispersion
4. Probability distributions
5. Sampling distributions (s
6. Include an APA formatted reference page
Write brief speaker's notes to supplement your slide
1. tandard normal distribution and Z scores)
• Include an APA formatted reference page
Write brief speaker's notes to supplement your slides; use correct English with enough content to help our audience understand the content in the slides. DO NOT PUT ALL OF THE TEXT INTO THE SLIDES. You want your slides to be easy to view. Do use visuals to make your slides more visually appealing. Proofread the slides as well as the notes.