Business Decision Making Project Part 2
****The Part 1 Slide show is attached since the project is 3 parts consisting of 1 each week. ****
Purpose of Assignment
This assignment provides students with practice in understanding how to develop a hypothesis and interpret its findings. Students will learn to implement the use of these statistical measures for better business decision-making.
Resources: Week 4 Videos; Week 4 Readings; Statistics Lab
Tutorial help on Excel® and Word functions can be found on the Microsoft® Office website. There are also additional tutorials via the web offering support for Office products.
Use the same business problem/opportunity and research variable you wrote about in Week 3.
Note: Do not actually collect any data; think conceptually about how to apply these to a real world problem..
Develop a 10-12 PPT slide presentation in which you
Review the company and problem, briefly
Identify which types of descriptive statistics might be best for summarizing the data, if you were to collect a sample. (This should reflect your thinking in the Week 3 paper).
Identify a new quantitative variable that would be helpful in solving the problem (use a different variable than you did in Week 3). Why would this variable be important?
Evaluate how confidence intervals might help you solve your problem? Make sure you include an explanation of what they are.
Set up a relevant hypothesis test. Make sure you define the samples, address whether they are independent or not, choose a confidence level, state the null and state the alternative hypotheses, and explain your basis for deciding whether the null hypothesis should be accepted or not accepted. Why would the results of this hypothesis test be important to solving your problem?
Why is this called inferential statistics?
Which analytical statistics approach would be most helpful in determining a solution to the problem – descriptive or inferential? Explain your answer.
Include speaker’s notes per instructions in Week 3.
Proofread and Format your assignment consistent with APA guidelines