I need a 100 word reply to each of the following forums (total 800 words) Statistics Forum #1 As stated in my previous discussion, my supervisor uses a spreadsheet called a CEMASTER which allows her to see our credentials like how long we have been with the company, our skills, our wages, our bonuses, and what training we need to advance. A confidence interval gives an estimated range of values which could include an unknown population parameter. If my supervisor were to add confidence intervals this would give her a percentage probability that an estimated range of possible values includes the actual value that is being estimated. For example, she could use this information when its time to evaluate if we are eligible for our yearly raises.  Statistics Forum #2 After reviewing my pervious example on estimates I can understand why people do not entirely trust single point estimates. Our book states that “ The confidence interval of the population mean is a range within which the value of an unknown population mean has a specified probability of occurring ” (Tanner & Youssef-Morgan, 2013).By adding confidence intervals we are able to narrow the number down. I asked a manager in human resource who keeps of the schedule to include  time off, sick day, and no shows if she would prefer a signal point estimate or a range . She told me that she would prefer the range estimate. She agreed with our text witch states “ a range of numbers within which the true percentage of spoilage will occur with a stated probability” (Tanner & Youssef-Morgan, 2013) . I also asked another person in the HR office and he thought the range estimate was also a better idea. They both felt that the numbers where better and more reliable for their job. They stated that when dealing with a large employee population it would be better to get a range that encompasses the possibilities in numbers. Statistics Forum #3 Chi – Tests are also called distribution – free tests and no assumptions are needed about how the data are distributed and there are no requirements regarding their scale. I think a good example of a chi – test would be how your grades have changed over the course of a year. You would compare last year results to this year results. The results would tell you whether your grades improved over a years time. Statistics Forum #4 Our book states that “chi-square is a test of the independence of two nominal scale variables” (Tanner & Youssef-Morgan, 2013) . I would have used the chi-square test when purchasing a new car. There are difference in overall cost to consider. To include the sticker price, taxes, the mpg and general repair the car would need in its first few years. “Chi-square is a statistical test commonly used to compare observed data with data we would expect to obtain according to a specific hypothesis” (Pennsylvania State University, 2013). I could get a better understanding on the overall cost on car owners.

1. I need a 100 word reply to each of the following forums (total
800 words)
Statistics Forum #1
As stated in my previous discussion, my supervisor uses a
spreadsheet called a CEMASTER which allows her to see our
credentials like how long we have been with the company, our
skills, our wages, our bonuses, and what training we need to
advance. A confidence interval gives an estimated range of
values which could include an unknown population parameter.
If my supervisor were to add confidence intervals this would
give her a percentage probability that an estimated range of
possible values includes the actual value that is being estimated.
For example, she could use this information when its time to
evaluate if we are eligible for our yearly raises.
Statistics Forum #2
After reviewing my pervious example on estimates I can
understand why people do not entirely trust single point
estimates. Our book states that “
The
confidence
interval
of
the
population
mean
is
a
range
within
which
the

2. value
of
an
unknown
population
mean
has
a
specified
probability
of
occurring
”
(Tanner & Youssef-Morgan, 2013).By adding confidence
intervals we are able to narrow the number down. I asked a
manager in human resource who keeps of the schedule to
include time off, sick day, and no shows if she would prefer a
signal point estimate or a range . She told me that she would
prefer the range estimate. She agreed with our text witch states
“
a
range
of
numbers
within
which
the
true
percentage
of
spoilage
will
occur
with
a
stated

3. probability”
(Tanner & Youssef-Morgan, 2013)
.
I also asked another person in the HR office and he thought the
range estimate was also a better idea. They both felt that the
numbers where better and more reliable for their job. They
stated that when dealing with a large employee population it
would be better to get a range that encompasses the possibilities
in numbers.
Statistics Forum #3
Chi – Tests are also called distribution – free tests and no
assumptions are needed about how the data are distributed and
there are no requirements regarding their scale. I think a good
example of a chi – test would be how your grades have changed
over the course of a year. You would compare last year results
to this year results. The results would tell you whether your
grades improved over a years time.
Statistics Forum #4
Our book states that “chi-square is a test of the independence of
two nominal scale variables” (Tanner & Youssef-Morgan, 2013)
.
I would have used the chi-square test when purchasing a new
car. There are difference in overall cost to consider. To include
the sticker price, taxes, the mpg and general repair the car
would need in its first few years. “Chi-square is a statistical test
commonly used to compare observed data with data we would
expect to obtain according to a specific hypothesis”
(Pennsylvania State University, 2013). I could get a better
understanding on the overall cost on car ownership.
Finance Forum #1
Management should at least know the basics of finance,
whatever company it may be

4. or who they are working for. They should know valuation, cash
flow and risks. Valuation is the ability to accurately estimate
what an asset is worth in "economic terms". Cash flow is just he
money coming in and out, ensuring that there is more positive
cash flow then negative. Risk is just how it sounds and when
talking about return on investments (ROI) there is always risks
when investing in a product for the company.Managers need to
understand these characteristics of financial markets because
they are vital to operating effectively. They need to know how
risky something is to know what kind of value it can bring to
the company and to know if it is worth the risk. Cash flow is
more important because it is all of the money that comes into
and out of the company, not just the money made from sales. It
gives a more accurate figure on how much money a company
has in hand. If management does not fulfill its responsibilities it
could be losing the company money or it could lead to legal
problems if they are not following all laws associated with
finances.
Finance Forum #2
Finance is a business function that uses analytical tools to help
managers make better overall decisions. Every management
within an organization must know at least the basic financial
principles to effectively run their organization. Management
must have a clear understanding of the organization’s current
financial position, particularly whether the business is
profitable or not. Management that has a clear understanding of
finances within an organization can better provide financial
planning to help them guide their business down the right path
to future growth. Managers need to understand the
characteristics and importance of financial markets because
when they invest, they have to make choices about what to do
with their companies’ financial assets. Risk is any uncertainty
with respect to a company’s investment that has the potential to

5. negatively affect the company’s financial welfare. For
example, your investment value might rise or fall because of
market conditions. Corporate decisions, such as whether to
expand into a new area of business or merge with another
company, can affect the value of your investments. Cash flow
is the amount of money coming into a business and the amount
of money going out. Every business of course wants more
money coming in than going out. Cash flow is more important
than sales in a business because it is the lifeblood of your
business and comes from sources like payments from customers,
receipt of a loan or interest on savings or investments. Cash is
very important because it is the payment for things that make
your business run; expenses like stock or raw materials,
employees, rent and other operating expenses. If management
doesn’t fulfill their responsibilities they could possibly lose
their business. I used to work for a small business in South
Carolina and it had to close down because of very poor
management skills. The manager lacked the skills of finance
and keeping an accurate inventory of supplies. She lacked the
financial planning that would ensure the success of her
business.
Finance Forum #3
The income statements is the financial document that I have
chosen and according to our text "The income statement shows
a company's revues and profits over some time period, usually a
year or a quarter" (Hickman, 2013). The income statements is
detrimental to determining the health of the company. This
statements begins by listing the revenues from the sales of the
business. Then it lists the cost of making the products, also
known as Cost of Goods Sold. This list allows the company to
see if they are making a direct profit from their sales. If the cost
of goods sold outweighed the revenue, then that would not be
good for the business, which is why the income statement comes
in handy for a business. Since the income statements is used

6. over a time period, the company is able to see its exact growth
over the time period. For example if a company were to do an
income statement and see in 2014 their revenues were $79,000
and in 2015 their revenues were $97,000, the company can tell
by looking at the income statement that they have increased
revenues and in this aspect the business is in a healthy state.
Finance Forum #4
Choose one of the financial statements and explain how a
manager would use the statement to drive financial analysis and
decision-making.
I chose cash flow. Cash flow is extremely important to the
business owner because it gives the owner a tool by which they
can see just where their money is going and where it's coming
from. They are able to plan payments of debts and things of that
nature a little bit, rather that finding themselves just paying
things without any planning and then finding that they don't
have adequate cash resources with which to pay their debts
(Intelecom, n.d.). For an example, if we have a firm with
$80,000 in taxable income with no depreciation. Next, we
compared this to the firm's after-tax cash flow assuming it had
$20,000 in depreciation expense. In the meantime, we must
remember that because depreciation is a non cash flow expense,
it must be added back into net income in order to get an
estimate of after-tax cash flow because cash is a better measure
of the amount of available funds that the firm generates, it is a
more reliable indicator than net income of the firm's ability to
pay its bills, make its interest payments on debt and pay
dividends to its stockholders. Moreover, these are exactly the
attributes that business owners value. However, this causes the
asset to be higher as its ability generates cash flow increases.