1 / 14

American Intercontinental University

American Intercontinental University. QMB-350 Leah Murray. Welcome to the Course. Course Length Due Dates Sunday night 11:59 PM CST Weekly Assignments Discussion Board Post Individual Project or Group Late Assignments Late Policy in Instructor Files Chat Times Office Hours

emera
Download Presentation

American Intercontinental University

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. American Intercontinental University QMB-350 Leah Murray

  2. Welcome to the Course • Course Length • Due Dates • Sunday night 11:59 PM CST • Weekly Assignments • Discussion Board Post • Individual Project or Group • Late Assignments • Late Policy in Instructor Files • Chat Times • Office Hours • Email Contact • LeMurray@faculty.aiuonline.edu • Response within 24-48 hours

  3. Discussion Board Posts • Post must address all questions asked • Refer to outside sources and be sure to cite these sources • Respond to at least two other students posts • Response guidelines located in instructor files

  4. How am I graded? • Chat attendance is NOT graded • Each assignment has points assigned to it • Find grading guidelines/rubrics uploaded to the course • For individual projects the rubric along with individual comments will be returned to you • For discussion board points will be awarded according to guidelines • Comments will be provided via the grade book

  5. Lets take A field Trip • Lets interrupt this lecture to go on a field trip to • Proflmurray.webs.com • Your source for all things QMB-350!!!

  6. Business Statistics • Calculated often to help businesses make decisions • How many employees to hire/have on staff • How many units to stock • Use for advertising purposes • Often calculated as part of everyday business • Primary Data • Collected by the company itself • Scanned Items • Inventory • Direct Survey • Secondary Data • Collected by a third party • Independent research • Purchased data

  7. Data Collection Methods • Conduct a survey • Observational Studies • Census • Recycle Data • Design an Experiment

  8. Collecting Data • Population • The ENTIRE group we are interested in • Sample • Portion of the group that is studied • Why do we sample • Saves Time • Saves Money

  9. Sampling Methods • Simple Random Sample • Randomly select members of population • Cluster Sample • Break population into clusters, sample an ENTIRE cluster • Stratified Sample • Break population into strata take a simple random sample from each strata • Systematic Sample • Chose every nth item • Convenience Sample • Use members of population that are easily available

  10. Types of Data • Quantitative • Measures a quantity or numerical aspect • Height, Weight, Number of pets • Qualitative • May be numerical however numbers do not have numerical meaning • Zip code, phone number, student ID number, codes

  11. Measures of Central tendency • Mean • Sum of the data divided by number of data points • Not Robust to outliers • Median • Middle data point when data is in order • Robust to outliers • Mode • Most frequent data point • Can have more than one or none

  12. Measures of Dispersion • Tell How spread out the data is • Measure of Consistency • Range • Largest Data point-smallest data point • Standard Deviation • The larger the standard deviation the more spread out the data is

  13. Combining mean and Standard Deviation • Use the mean to give you an idea of the center of the data • Use the standard deviation to tell you how spread out the data is • Combine both to compare data sets

  14. Qualitative v quantitative • Qualitative variables- the number has no meaning therefore descriptive statistics have no meaning Mode Mean, Median, Standard Deviation, Variance

More Related