AN INTRODUCTION TO ANALYZING COMPANY W’S NEW SNACK FORMULA MARK CARLSON P1IP1 MAY 26, 2008 Decision Making with Statistical Data

Introduction Business Statistics Qualitative Rating Examples Interval and Rational Data Population and Samples

Business Statistics

Qualitative Rating Examples

Interval and Rational Data

Population and Samples

Definition Variables/Attributes Qualitative Quantitative Levels of Measures Business Statistics

Definition

Variables/Attributes

Qualitative

Quantitative

Levels of Measures

Nominal & Ordinal Interval & Ratio Levels of Measure

Nominal & Ordinal

Interval & Ratio

Nominal & Ordinal Rating Examples Nominal Ordinal Ordinal How does the chip taste? How do you rate the taste of bag “A” as compared to “B”? How appealing is the chip bag? Tangy Superior “ I’ve got to try it!” Salty Better “ It looks interesting.” Cheesy About the same “ I can live with it.” Sweet Not as good “ It’s not too appealing.” Plain Far inferior “ Gross!”

Tangy

Superior

“ I’ve got to try it!”

Salty

Better

“ It looks interesting.”

Cheesy

About the same

“ I can live with it.”

Sweet

Not as good

“ It’s not too appealing.”

Plain

Far inferior

“ Gross!”

Population and Samples Population Examples Sample Bias

Population

Examples

Sample

Bias

Conclusion Business Statistics Qualitative Rating Examples Interval and Rational Data Population and Samples

Business Statistics

Qualitative Rating Examples

Interval and Rational Data

Population and Samples

References Gibilisco, Stan. (2004). Statistics demystified. Retrieved May 25 from http://site.ebrary.com/lib/cecybrary/Doc?id=10089198&ppg=54 Lind, D., Marchal, W., Wathen, S. (2008). Statistical techniques in business & economics. (13 ed.). New York, NY: McGraw-Hill Irwin. Kazmier, Leonard. (2003). Schaum's easy outline : Busines statistics. Retrieved May 5, 2008 from http://site.ebrary.com/lib/cecybrary/Doc?id=10045338&ppg=11 Peddiniti, S. (2006). Ordinal data. Retrieved May 23, 2008 from http://www.isixsigma.com/dictionary/Ordinal_Data-1538.htm. Superville, Claude (2008). Live Chat Session: MGM600 4 47 0 . Retrieved May 24, 2008 from CTU Online, MGM600-0802B-04 : Applied Managerial Decision-Making.

Gibilisco, Stan. (2004). Statistics demystified. Retrieved May 25 from

http://site.ebrary.com/lib/cecybrary/Doc?id=10089198&ppg=54

Lind, D., Marchal, W., Wathen, S. (2008). Statistical techniques in business & economics. (13 ed.). New York, NY: McGraw-Hill Irwin.

Kazmier, Leonard. (2003). Schaum's easy outline : Busines statistics. Retrieved May 5, 2008 from http://site.ebrary.com/lib/cecybrary/Doc?id=10045338&ppg=11

Peddiniti, S. (2006). Ordinal data. Retrieved May 23, 2008 from http://www.isixsigma.com/dictionary/Ordinal_Data-1538.htm.

Superville, Claude (2008). Live Chat Session: MGM600 4 47 0 . Retrieved May 24, 2008 from CTU Online, MGM600-0802B-04 : Applied Managerial Decision-Making.