# QNT 275 All Weeks Participations

QNT/275

STATISTICS FOR DECISION MAKING

**********************************************

https://uopcourses.com/category/qnt-275/

**********************************************

QNT 275 Week 1 Participation The Role of Statistics in Business Decision-Making
Watch the "The Role of Statistics in Business Decision-Making" video.

Consider the following as you watch:

Describe probability theory.
Explain how sampling theory relates to probability theory.
Differentiate between a population and a sample.
Explain, based on the video, why statistics is important in decision-making.

QNT 275 Week 2 Participation Obtaining a Suitable Sample
Watch the "Obtaining a Suitable Sample" video.

Consider the following as you watch:

Discuss the difference between convenience and random sampling.
Explain how you can obtain a sample size representative of a population.
Provide three examples.
Explain why a sample is used in place of the population.

QNT 275 Week 2 Participation Measuring Central Tendency and Variability
Watch the "Measuring Central Tendency and Variability" video.

Consider the following as you watch:

Define the three standard measurements of the central tendency and provide example of each.
Explain when you might want to use a median number.
Provide an example.
Define a standard deviation and what a standard deviation shows, provide an example.

QNT 275 Week 2 Participation Statistics Intro: Mean, Median, and Mode
Watch the "Statistics Intro: Mean, Median, and Mode" video.

Consider the following as you watch:

Explain how mean is calculated.
Explain how a median is calculated with an even number list.
Define an array.
Provide an example.
Define a mode.
Identify if you can have more than one modal number in a set of data.

QNT 275 Week 2 Participation Finding the Range and Mid-Range
Watch the "Finding the Range and Mid-Range" video.

Consider the following as you watch:

Define a range and provide two examples.
Calculate a mid-range and provide two examples.

QNT 275 Week 2 Learning Team Collaborative Discussion: Descriptive Statistics
Read Case Study 3.3 in Ch. 3 of Essentials of Business Statistics found on page 98.

Click the Fort Myers Sales Data Set link.

Calculate descriptive statistics:the mean, median, mode, and standard deviation in the two sample periods (January and July).

Discuss one of the following:

Identify what changes occurred in the Fort Myers housing market during the 6-month period.
Explain what conclusions you can draw from the data.
Identify what additional data you might want to understand the housing market better.
Explain what role descriptive statistics play in understanding the housing market.

QNT 275 Week 3 Participation Probability and Conditional Probability in Business Decision
Watch the "Probability and Conditional Probability in Business Decision-Making" video.

Consider the following as you watch:

Define probability.
Provide three examples of probability.
Define conditional probability.
Provide three examples of conditional probability.
Describe what questions you might ask to determine probability of risks when starting your own company.
Provide at least three questions.

QNT 275 Week 3 Learning Team Collaborative Discussion: Probability
Resource: Case Study 5.2 in Chapter 5 of Essentials of Business Statistics

Calculate the requested probabilities for items 1-3.

Discuss your findings for the probabilities.

Identify the smoking trend from 1997-2007.
Explain whether this is a discrete, continuous, or conditional probability.
Recommend steps related to smoking behavior based on this trend.

QNT 275 Week 4 Participation Correlation and Causality
Watch the "Correlation and Causality" video.

Define a correlation and provide an example
Define causality?
Explain if correlation causes causality.
Provide evidence with an example.

QNT 275 Week 4 Participation Using Time Series to Analyze Business Trends
Watch the "Using Time Series to Analyze Business Trends" video.

Identify the four components of time series.
Provide an example of each component and how it might be used in business
Explain if this data becomes obsolete over time.

QNT 275 Week 4 Participation Career Connection Discussion: Forecasting
Discuss the following:

Explain what you have learned throughout this course with probability and how you think that will affect your forecasting decisions in your current or future company.
Predict how you will use probability in your current or future company?

QNT 275 Week 5 Participation Managing the Data Deluge
Watch the "Managing the Data Deluge" video.

Define a data management plan?
Provide an example of good data and an example of bad data.
Explain the following: Other than collecting primary data where might you search for secondary data?

QNT 275 Week 5 Participation Instinct, Debate, and Data Make the Best Decisions
Watch the "Instinct, Debate, and Data Make the Best Decisions" video.

Identify how to make the best decisions,
Provide an example.
Explain whether data the only element used in decision making.
Justify whether instinct should play a role in decision-making.

QNT 275 Week 5 Participation Interpret and Communicate Data Analysis Results
Watch the "Interpret and Communicate Data Analysis Results" video.

Describe how data can be interpreted differently.
Explain how and why data is scrubbed.
Describe three different ways to communicate data.