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Ashford bus308 entire course statistics for managers
Ashford bus308 entire course statistics for managers
Ashford bus308 entire course statistics for managers
Ashford bus308 entire course statistics for managers
Ashford bus308 entire course statistics for managers
Ashford bus308 entire course statistics for managers
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Ashford bus308 entire course statistics for managers

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  • 1. Ashford BUS308 Entire course Statistics for Managers PLEASE DOWNLOAD HEREWeek OneRequired ReadingsChapter 1: An Introduction to Business StatisticsChapter 2: Descriptive Statistics: Tabular and Graphical MethodsChapter 3: Descriptive Statistics: Numerical MethodsDiscussionsPerformance Report. You are the manager at a company and are asked topresent a report on the year-to-date performance of your division. What type ofstatistical information would you include in your report? In particular, whichdescriptive statistics (mean, median, standard deviation, etc.) do you think wouldbest represent the main aspects of the performance of your division? What typesof graphical presentation (histogram, dot plot, stem-and-leaf, bar chart, etc.)would you include? Explain your reasoning.The Empirical Rule vs. Chebyshev’s Theorem. Discuss how the Empirical Ruleworks and how it relates to the bell curve as illustrated in Figure 3.14 (a). Then,explain Chebyshev’s Theorem and how it is different from the Empirical Rule.Give a specific example of a population with which the Empirical Rule might bemost effective and one with which Chebyshev’s Theorem might be most effective.Quiz1. Due Day 6.Week One Quiz. Complete the quiz on the assigned readings forthe week.AssignmentsWeek One Problems. Complete the following problems from the textbook andsubmit them as a Word file.
  • 2. Chapter 1: 1.2, 1.17Chapter 3: 3.3, 3.22Week TwoRequired ReadingsChapter 4: ProbabilityChapter 5: Discrete Random VariablesChapter 6: Continuous Random VariablesDiscussionsRelative Frequency. Conceptually we would expect the probability of newbornmales and females to be the same. However, census reports indicate that theratios of males and females in various countries do not conform to the theoreticalprediction. What do you think accounts for this variation? Can you think of othercases where the expected probabilities do not quite agree with the empiricalvalues?Applications for Probability. In what situations might you use probability as amanager to approach business-related problems? What are the advantages tousing probability concepts in business decisions? Are there any disadvantages orpossible pitfalls to avoid in using probability in business?Quiz1. Due Day 6.Week Two Quiz. Complete the quiz on the assigned readings forthe week.AssignmentsWeek Two Problems. Complete the following problems from the textbook andsubmit them as a Word file. When appropriate, you may use either Excel orMegastat to complete (see tutorials in chapter appendices).Chapter 4: 4.4, 4.20, 5.12, 6.22(a)Chapter 5:Chapter 6:Week Three
  • 3. Required ReadingsChapter 7: Sampling and Sampling DistributionsChapter 8: Confidence IntervalsDiscussionsUnscientific Sampling. Consider question 7.45 from the text: A Milwaukeetelevision station, WITI-TV, conducted a telephone call-in survey asking whetherviewers liked the new newspaper, the Journal Sentinel. On April 26, 1995, TimCuprisin, a columnist for the Journal Sentinel, wrote the following comment:“WITI-TV (Channel 6) did one of those polls—which they admit are unscientific—last week and found that 388 viewers like the new Journal Sentinel and 2,629didn’t like it. We did our own unscientific poll on whether those Channel 6 surveysaccurately reflect public opinion. The results: a full 100 percent of therespondents say absolutely, positively not.”Is Cuprisin’s comment justified?Article Review. Many articles present statistical data and list margins of error (forexample, reports on political opinion polls, growth or decline of the housingmarkets, manufacturing sectors, etc.). Find one such article from a reliable source(such as EBSCO or Proquest) in the online library that includes a construction ofconfidence intervals for the data studied, and give a summary of the topic and thestatistical results presented. In particular, discuss whether there is enoughinformation presented in the article to arrive at the same conclusion as reported.Quiz1. Due Day 6.Week Three Quiz. Complete the quiz on the assigned readings forthe week.AssignmentsWeek Three Problems. Complete the following problems from the textbook andsubmit them as a Word file. When appropriate, you may use either Excel orMegastat to complete (see tutorials in chapter appendices).Chapter 7: 7.11, 7.30, 8.8, 8.38Chapter 8:Week FourRequired Readings1. Chapter 9: Hypothesis Testing
  • 4. 2. Chapter 12: Chi-Square TestsDiscussionsHypothesis Test. Give an example of a hypothesis test you could perform at workor at home. State what the Null and the Alternative hypotheses would be in yourtest. Explain how you would settle on a reasonable level of significance for yourscenario. Also explain what the type I and II errors would be if you reached theincorrect conclusion in your test.Creating Hypotheses. Assume you are the manager of a paint manufacturingfactory. Your company has received complaints from customers that thecontainers hold less than the amount printed on them. On the other hand,corporate management is concerned that the containers hold more than thestandard amount. You assign a statistician to verify these claims. A sample ofcontainers was selected and the volume of paint in each container wasmeasured. Assuming that the volume printed on each container is 1 gallon, howwould you formulate the null and alternative hypotheses to test the customers’claim? As a manager, what reasonable criteria will you use to set a value for thelevel of significance to be used in the test? After answering this question, whattype of error would you suppose may result in that case?Quiz1. Due Day 6. Week Four Quiz. Complete the quiz on the assigned readings forthe week.AssignmentsWeek Four Problems. Complete the following problems from the textbook andsubmit them as a Word file. When appropriate, you may use either Excel orMegastat to complete (see tutorials in chapter appendices).Chapter 9: 9.13, 9.22Chapter 12: 12.10, 12.18(a)WeekFiveRequired Readings1. Chapter 13: Simple Linear Regression Analysis2. Chapter 15: Process Improvement Using Control Charts (on textbook website:http://highered.mcgraw-hill.com/sites/007340182x/student_view0/chapter_15.html)Discussions
  • 5. Linear Correlation. Do you think there is a correlation between CEO salaries andthe degree of success of a company? If you were to take a sample of companieswith comparable size, market capitalization, and product category, and plot CEOsalaries against the net profit of their respective companies, do you expect to finda linear correlation between the two? Explain.Quality Control. Visit the websites on Quality Control (QC) listed in the RequiredWebsites for this week. In addition, locate an article on the Internet or in theLibrary databases that describes an example of the use of statistics in QualityControl. In your post, briefly define Quality Control and explain its importance.Also, describe some of the most widely used tools in the industry for measuringand controlling quality, emphasizing their relationship to what you haveencountered in this class. Finally, explain the example from your article ofstatistics as applied in a Quality Control context.AssignmentsFinal Project.Focus of the Final ProjectTo complete this project, use the “Final Project Data Set” found in your eCollegeclassroom in the Final Project description.Part I:1. Calculate the mean yearly value using the average gas prices by month foundin the “Final Project Data Set.”2. Using the years as your x-axis and the annual mean as your y-axis, create ascatterplot and a linear regression line.3. Answer the following questions using your scatterplot and linear regressionline:a. What is the slope of the linear regression line?b. What is the Y-intercept of the linear regression line?c. What is the equation of the linear regression line in slope-intercept form?d. Based on the linear regression line, what would be an estimated cost of gas inthe year 2020?e. What are the residuals of each year?f. Select a current price that you have seen or paid recently for gas. Is that pricewithin the range of the linear regression line or is it an outlier? Is it within theconfidence interval of 5% or either end?Part II:Imagine that you are a manager at a delivery service and you are creating areport to project the effects on your company of rising gas prices in the next tenyears. Using the preceding statistical analysis as your basis and outside scholarlyresources to support your claims, write a 3 to 5 page paper interpreting theresults from this perspective. Include the following considerations:
  • 6. 1. Introduce the project and its significance to the company.2. Explain the statistical analysis that you completed in Part I. Be sure to explainwhere the data came from, what analysis was done, and what the results were.3. Give conclusions that you have drawn from the data. Consider the effects ofyour gas price predictions on the delivery business. Also consider whether or notyou believe your predicted gas prices are accurate. What could occur in the futurethat would change your linear regression line and therefore your prediction?

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