BUS 308 Course Experience Tradition / bus308outlet.Com

1. BUS 308 Course Experience Tradition / bus308outlet.com For More Tutorials www.bus308outlet.com

2. BUS 308 Course Experience Tradition / bus308outlet.com BUS 308 Entire Course (Ash Course) BUS 308 Entire Course (New) • BUS 308 Week 1 Assignment Problems 1.2, 1.17, 3.3 & 3.22BUS 308 Week 1 DQ 1 Performance ReportBUS 308 Week 1 DQ 2 The Empirical Rule vs. Chebyshev TheoremBUS 308 Week 1 Quiz (10 MCQ)BUS 308 Week 2 Assignments Problems 4.4, 4.20, 5.12, 6.22(a)BUS 308 Week 2 DQ 1 Relative Frequency • BUS 308 Week 1 DQ 1 Data ScalesBUS 308 Week 1 DQ 2 ProbabilityBUS 308 Week 1 QuizBUS 308 Week 1 Problem Set Week OneBUS 308 Week 2 JournalBUS 308 Week 2 DQ 1 t-Tests

3. BUS 308 Course Experience Tradition / bus308outlet.com BUS 308 Week 1 Assignment Problems 1.2, 1.17, 3.3 and 3.22 (Ash Course) BUS 308 Week 1 DQ 1 Language • BUS 308 Week 1 Problems 1.2, 1.17, 3.3 and 3.22 • Discussion 1-1/Language • Numbers and measurements are the language of business. • Organizations look at results in many ways: expenses, quality levels, efficiencies, time, costs, etc. What measures does your department keep track of?

4. BUS 308 Course Experience Tradition / bus308outlet.com BUS 308 Week 1 DQ 1 Performance Report (Ash Course) BUS 308 Week 1 DQ 2 Probability • You are the manager at a company and are asked to present a report on the year-to-date performance of your division. What type of statistical information would you include in your report? In particular, which descriptive statistics (mean, median, standard deviation, etc.) do you think would best represent the main aspects of the performance of your division? What types of graphical presentation (histogram, dot plot, stem-and-leaf, bar chart, etc.) would you include? Explain your reasoning • Things vary in life – virtually nothing (except physical standards such as the speed of light) we interact with is constant over time. • Much of this variation follows somewhat predictable patterns that can be examined using probability. • An example of a subjective probability is: “Cops usually do not patrol this road, so I can get away with speeding.” • An empirical probability example is: “Each production run has a 5% reject rate.”

5. BUS 308 Course Experience Tradition / bus308outlet.com BUS 308 Week 1 DQ 2 The Empirical Rule vs. Chebyshev Theorem (Ash Course) BUS 308 Week 1 Problem Set • The Empirical Rule vs. Chebyshev’s TheoremDiscuss how the Empirical Rule works 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 be most effective and one with which Chebyshev’s Theorem might be most effective. Respond to at least two of your classmates’ postings. • 1. For assistance with these calculations, see the Recommended Resources for Week One. Measurement issues. • Data, even numerically code variables, can be one of 4 levels – nominal, ordinal, interval, or ratio. • It is important to identify which level a variable is, as this impacts the kind of analysis we can do with the data.

6. BUS 308 Course Experience Tradition / bus308outlet.com BUS 308 Week 1 Quiz (10 MCQ) (Ash Course) BUS 308 Week 1 Quiz (New) • 1. Question : The two types of quantitative variables are • 2. Question : As a general rule, when creating a stem-and-leaf display, there should be between ______ stem values. • 1. Question : In statistical notation, M is to μ as s is to σ. • Question 2. Question : A parameter refers to a sample characteristic. • Question 3. Question : Data on the city from which members of a board of directors come represent interval data.

7. BUS 308 Course Experience Tradition / bus308outlet.com BUS 308 Week 1 Quiz BUS 308 Week 2 Assignments Problems 4.4, 4.20, 5.12, 6.22(a) (Ash Course) • 1. Question : Data on the city from which members of a board of directors come represent interval data. • 2. Question : Inferential statistics infer the characteristics of samples. • 3. Question : The mode is which of the following? • BUS 308 Week 2 Assignments Problems 4.4, 4.20, 5.12, 6.22(a)

8. BUS 308 Course Experience Tradition / bus308outlet.com BUS 308 Week 2 DQ 1 Hypotheses BUS 308 Week 2 DQ 1 Relative Frequency (Ash Course) • Discussion 2-1/Hypotheses • What is a hypothesis test? Why do we need to use them to make decisions about relating sample results to the population; • why can’t we just make our decisions by the sample value? • Relative Frequency. Conceptually we would expect the probability of newborn males and females to be the same. However, census reports indicate that the ratios of males and females in various countries do not conform to the theoretical prediction. What do you think accounts for this variation? Can you think of other cases where the expected probabilities do not quite agree with the empirical values?

9. BUS 308 Course Experience Tradition / bus308outlet.com BUS 308 Week 2 DQ 2 Applications for Probability (Ash Course) BUS 308 Week 2 DQ 2 Variation • Applications for Probability. In what situations might you use probability as a manager to approach business-related problems? What are the advantages to using probability concepts in business decisions? Are there any disadvantages or possible pitfalls to avoid in using probability in business? • Variation exists in virtually all parts of our lives. • We often see variation in results in what we spend (utility costs each month, food costs, business supplies, etc.). • Consider the measures and data you use (in either your personal or job activities). • When are differences (between one time period and another, between different production lines, etc.) between average or actual results important?

10. BUS 308 Course Experience Tradition / bus308outlet.com BUS 308 Week 2 Problem Set BUS 308 Week 2 Quiz (10 MCQ) (Ash Course) • Problem Set Week TwoComplete the problems below and submit your work in an Excel document. Be sure to show all of your work and clearly label all calculations. • 1. Question : In a statistical study, the random variable X = 1, if the house is colonial, and X = 0 if the house is not colonial, then it can be stated that the random variable is continuous. • 2. Question : The set of all possible experimental outcomes is called a(n)

11. BUS 308 Course Experience Tradition / bus308outlet.com BUS 308 Week 2 Quiz (New) BUS 308 Week 2 Quiz • 1. Question : What is the relationship between the power of a statistical test and decision errors? • Question 2. Question : The desired sample depends on all of these factors except? • Question 3. Question : What question does the z test answer? • 1. Question : How is the sum of squares unlike either the standard deviation or the variance? • 2. Question : If sums of squares statistics are calculated for shoppers at three different retail outlets, what statistic will indicate the variability among those at each outlet?

12. BUS 308 Course Experience Tradition / bus308outlet.com BUS 308 Week 3 Assignments Problems 7.11, 7.30, 8.8, 8.38 (Ash Course) BUS 308 Week 3 DQ 1 ANOVA • BUS 308 Week 3 Assignments Problems 7.11, 7.30, 8.8, 8.38 • In many ways, comparing multiple sample means is simply an extension of what we covered last week. • Just as we had 3 versions of the t-test (1 sample, 2 sample (with and without equal variance), and paired; • we have several versions of ANOVA – single factor, factorial (called 2-factor with replication in Excel), and within- • subjects (2-factor without replication in Excel). What examples (professional, personal, social) can you provide on when we might use each type?

13. BUS 308 Course Experience Tradition / bus308outlet.com BUS 308 Week 3 DQ 1 Unscientific Sampling (Ash Course) BUS 308 Week 3 DQ 2 Article Review (Ash Course) • Unscientific Sampling. Consider question 7.45 from the text: A Milwaukee television station, WITI-TV, conducted a telephone call-in survey asking whether viewers liked the new newspaper, the Journal Sentinel • Article Review. Many articles present statistical data and list margins of error (for example, reports on political opinion polls, growth or decline of the housing markets, manufacturing sectors, etc.). Find one such article from a reliable source (such as EBSCO or Proquest) in the online library that includes a construction of confidence intervals for the data studied, and give a summary of the topic and the statistical results presented.

14. BUS 308 Course Experience Tradition / bus308outlet.com BUS 308 Week 3 DQ 2 Effect Size BUS 308 Week 3 Problem Set • Several statistical tests have a way to measure effect size. What is this, and when might you want to use it in looking at results from these tests on job related data? • ASSIGNMENT WEEK 3 Complete the problems below and submit your work in an Excel document. Be sure to show all of your work and clearly label all calculations. All statistical calculations will use the (Note: Questions 1- 4 have additional elements to respond to below the analysis results.)

15. BUS 308 Course Experience Tradition / bus308outlet.com BUS 308 Week 3 Quiz (10 MCQ) (Ash Course) BUS 308 Week 4 Assignments Problems 9.13, 9.22, 12.10, 12.18(a) (Ash Course) • 1. Question : There is little difference between the values of ta/2 and Za/2 when the sample • 2. Question : If the population proportion is .4 with a sample size of 20, then is this sample large enough so that the sampling distribution of is a normal distribution. • BUS 308 Week 4 Assignments Problems 9.13, 9.22, 12.10, 12.18(a)

16. BUS 308 Course Experience Tradition / bus308outlet.com BUS 308 Week 4 DQ 1 Confidence Intervals BUS 308 Week 4 DQ 1 Hypothesis Test (Ash Course) • Discussion 4-1/Confidence Intervals • Many people do not “like” or “trust” single point estimates for things they need measured. • Looking back at the data examples you have provided in the previous discussion questions on this issue, how might • adding confidence intervals help managers accept the results better? Why? • Give an example of a hypothesis test you could perform at work or at home. State what the Null and the Alternative hypotheses would be in your test. Explain how you would settle on a reasonable level of significance for your scenario. Also explain what the type I and II errors would be if you reached the incorrect conclusion in your test.

17. BUS 308 Course Experience Tradition / bus308outlet.com BUS 308 Week 4 DQ 2 Chi-Square Tests BUS 308 Week 4 DQ 2 Creating Hypotheses (Ash Course) • Discussion 4-2/Chi-Square Tests • Chi-square tests are great to show if distributions differ or if two variables interact in producing outcomes. • What are some examples of variables that you might want to check using the chi-square tests? What would these results tell you? • Creating Hypotheses. Assume you are the manager of a paint manufacturing factory. Your company has received complaints from customers that the containers hold less than the amount printed on them. On the other hand, corporate management is concerned that the containers hold more than the standard amount. You assign a statistician to verify these claims

18. BUS 308 Course Experience Tradition / bus308outlet.com BUS 308 Week 4 Problem Set BUS 308 Week 4 Quiz (10 MCQ) (Ash Course) • ASSIGNMENT WEEK 4Let’s look at some other factors that might influence pay. Complete the problems below and submit your work in an Excel document. Be sure to show all of your work and clearly label all calculations. All statistical calculations will use the • 1. Using our sample data, construct a 95% confidence interval for the population's mean salary for each gender • 1. Question : Consider using p-value to test H0 versus Ha by setting α equal to .10. We reject H0 at level α of significance if and only if the p-value is: • 2. Question : When carrying out a sample test (with ó known) of H0: µ = 10 vs. Ha: µ > 10 by using a rejection point, we reject Ho at level of significance a if and only if the calculated test statistic is

19. BUS 308 Course Experience Tradition / bus308outlet.com BUS 308 Week 4 Quiz (New) BUS 308 Week 4 Quiz • 1. Question : The goodness of fit test null hypothesis states that the sample data does not match an expected distribution. • Question 2. Question : Statistical significance in the Chi-square test means the population distribution (expected) is not the source of the sample (observed) data. • 1. Question : With reference to problem 1, what statistic determines the correlation of experience with productivity, controlling for age in experience? • 2. Question : In a problem where interest rates and growth of the economy are used to predict consumer spending, which of the following will increase prediction error?

20. BUS 308 Course Experience Tradition / bus308outlet.com BUS 308 Week 5 DQ 1 Correlation BUS 308 Week 5 DQ 1 Linear Correlation (Ash Course) • Discussion 5-1/Correlation • What results in your departments seem to be correlated or related to other activities? • How could you verify this? Create a null and alternate hypothesis for one of these issues. • What are the managerial implications of a correlation between these variables? • Linear Correlation. Do you think there is a correlation between CEO salaries and the degree of success of a company? If you were to take a sample of companies with comparable size, market capitalization, and product category, and plot CEO salaries against the net profit of their respective companies, do you expect to find a linear correlation between the two? Explain

21. BUS 308 Course Experience Tradition / bus308outlet.com BUS 308 Week 5 DQ 2 Quality Control (Ash Course) BUS 308 Week 5 DQ 2 Regression • Quality Control. Visit the websites on Quality Control (QC) listed in the Required Websites for this week. In addition, locate an article on the Internet or in the Library databases that describes an example of the use of statistics in Quality Control. In your post, briefly define Quality Control and explain its importance. • Discussion 5-2/Regression • At times we can generate a regression equation to explain outcomes. • For example, an employee’s salary can often be explained by their pay grade, appraisal rating, education level, etc. • What variables might explain or predict an outcome in your department or life?

22. BUS 308 Course Experience Tradition / bus308outlet.com BUS 308 Week 5 Final Paper (2 Papers) BUS 308 Week 5 Final Part I - Excel (Ash Course) • The final paper provides you with an opportunity to integrate and reflect on what you have learned during the class. The question to address is: “What have you learned about statistics?” In developing your responses, consider – at a minimum – and discuss the application of each of the course elements in analyzing and making decisions about data (counts and/or measurements). • Calculate the mean yearly value using the average gas prices by month found in the"Final Project Data Set". • 2.Using the years as your x-axis and the annual mean as your y-axis, create a scatterplotand a linear regression line. • 3.Answer the following questions using your scatterplot and linear regression line:* What is the slope of the linear regression line?* What is the Y-intercept of the linear regression line?*

23. BUS 308 Course Experience Tradition / bus308outlet.com BUS 308 Week 5 Final Part II Analysis Paper on gas prices BUS 308 Week 5 Problem Set • Imagine that you are a manager at a delivery service and you are creating a report toproject the effects on your company of rising gas prices in the next ten years. • Using thepreceding statistical analysis as your basis and outside scholarly resources to support yourclaims • ASSIGNMENT WEEK 5 • 1. Create a correlation table for the variables in our (Use analysis ToolPak or StatPlus:mac LE function Correlation). • a. Reviewing the data levels from week 1, what variables can be used in a Pearson’s Correlation Table (which is what Excel produces)? • b. Place the table here.

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