QNT 275 Entire Course - The Latest Verson

Entire Course Download Link:

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



QNT/275STATISTICS FOR DECISION MAKINGThe Latest Version A+ Study Guide
Download Link:
https://uopcourses.com/category/qnt-275/


Week 1 Statistics in BusinessWrite a 525- to 700-word response that addresses the following prompts:
  • Define statistics with citation and reference.
  • Contrast quantitative data and qualitative data with citation and reference.
  • Describe the levels of data measurement.
  • Describe the role of statistics in business decision-making.
  • Provide at least two business research questions, or problem situations, in which statistics was used or could be used.
Copy and paste the five prompts above into a Microsoft® Word document and write a response below each prompt. Add an APA title page to your document. Use APA quotation, citation, and reference format for all sources used.Click the Assignment Files tab to submit your assignment.Week 2 Activity Data Set Resource: University of Phoenix Material: Data SetReview the following business scenario:You are the manager in a small town in the lake district of a Midwestern state enjoys a robust tourist season during the summer months, but has only a small population of residents during the off season. The Littletown Café adjusts the levels of staff according to the time of year, to coincide with the number of guests, with the tourist season typically starting around Memorial Day each year. One wait staff employee can serve 50 guests. When a bus staff employee is added, the pair can serve 75 guests. At 76 guests, the café adds a second wait staff employee, for a total of 2 waiters and one busser. Analysis of guest numbers can support future decisions about scheduling wait staff, dishwashers, and bus staff for the café.Download the data set.Review the data in the data set.Write a 700- to 1,050-word paper in which you:
  • Explain why this is (or is not) a suitable sample of quantitative data for the business scenario.
  • Evaluate the factors that would affect the validity of the data set.
  • Evaluate the factors that would affect the reliability of the data set.
  • Explain the steps you took to arrive at your conclusion about validity and reliability.
  • Display the data set in a chart.
  • Explain briefly why that chart type was selected.
  • Calculate the measures of central tendency and variability (mean, median, mode, standard deviation) for the data.
  • Explain the steps you followed to come your answer.
  • Interpret the measures of central tendency and variability.What are three conclusions you can draw based on the data analysis?
Click the Assignment Files tab to submit your assignment.

Week 2 Quiz·        ·        
question1

​Which of the following variables is
qualitative? 

o   

​Height

o   

​Temperature

o   

​Gender

o   

Weight

·        
question2

​A recent survey of 200 small firms (annual
revenue less than $10 million) asked whether an increase in the minimum wage
would cause the firm to decrease capital spending. Possible responses to the
survey question were: "Yes," "No," or "Don't
Know." These data are best classified as
____________. 

o   

​Nominal Scale

o   

​Ratio Scale

o   

​Interval Scale

o   

​Ordinal Scale

·        
question3

​Which of the following represents a
population and a sample from that population?

o   

​Teachers in a high school and members of the
parent teacher group

o   

​Residents
of Albany, New York, and registered voters in Albany, New York

o   

​Freshmen at St. Joseph's University and
basketball players at St. Joseph's University

o   

​Fans at a concert who purchase t-shirts and
fans at a concert who purchase soda

·        
question4

Which of the following variables is quantitative?​

o   

​Religious
Affiliation

o   

​Gender

o   

​Marital Status

o   

​​Temperature

·        
question5

​The accompanying chart shows the numbers of
books written by each author in a collection of cookbooks. What type of chart
is this?



o   

​Bar
chart for quantitative data

o   

​Frequency histogram for quantitative data

o   

​Bar chart for qualitative data

o   

​Frequency histogram for qualitative data

·        
question6

​In order to summarize qualitative data, a
useful tool is a __________. 

o   

​Frequency Distribution

o   

​Line Graph

o   

​Histogram

o   

​Stem-and-Leaf
Diagram

·        
question7

​ABC Plumbing
wants to understand its customers’ perceptions of the quality of the company’s
plumbing service calls. They plan to survey a sample of its customer base. What
will ABC need to do to ensure that their data is valid and reliable?

o   

​The survey must
include items that ask customers about their plumbing experiences, the survey
sample must include the first 15 customers off the customer database, and the
survey method must be repeatable.

o   

​The survey must include items that ask customers to rate
the quality of plumbing service calls, the survey sample must represent all
parts of the customer population, and the survey method must be repeatable.

o   

​The survey must
include items that ask customers to rate the appearance of the plumbing store,
the survey must include all customers, and the survey method must include
setting up a table outside the local dollar store.

o   

​The survey must
include items that ask customers to rate the friendliness of the receptionist,
the survey must include all customers from the north side of the city, and the
survey method must appeal to all respondents.

·        
question8

A stem-and-leaf diagram is constructed by separating each
value of a data set into two parts. What are these parts?

o   

​Stem
consisting of the leftmost digits and leaf consisting of the second digit

o   

​Stem consisting of the second digit and leaf
consisting of the last digit

o   

​Stem consisting of the leftmost digits and
leaf consisting of the last digit

o   

​Stem consisting of the last digit and leaf
consisting of the leftmost digits

·        
question9

A population consists of _________________.

o   

​a subject of interest in a sample

o   

​all
items of interest in a statistical problem

o   

​all items of interest in a sample

o   

​a subject of interest in a statistical
problem

 





Week 3 CLO Business Decision Making Project Part 1
Identify a business problem or opportunity at a company where you work or with which you’re familiar. This will be a business problem that you use for the individual assignments in Week 3-5. You will chose a company and identify an opportunity or problem that you can analyze and thus better understand that problem or opportunity.Identify a research variable within the problem/opportunity that could be measured with some type of data collection.Consider methods for collecting a suitable sample of either qualitative or quantitative data for the variable. Consider how you will know if the data collection method would be valid and reliable.Write a 700- to 1,050-word description of the company, problem, and variable.Include in your submission:
  • Identify the name and description of the selected company,
  • Describe the problem at that company,
  • Identify one research variable from that problem,
  • Describe the methods you would use for collecting a suitable sample of either qualitative or quantitative data for the variable (NOTE: do not actually collect any data)
  • Analyze how you will know if the data collection method would generate valid and reliable data (Note: do not actually collect any data)
Format your paper consistent with APA guidelines using the New APA Paper Template provided at right.Click the Assignment Files tab to submit your assignment.


Week 3 Quiz·        
·        
question1

​What does it mean when we say that the tails of the
normal curve are asymptotic to the x axis?

o   

​The tails gets closer and closer to the x axis and
eventually touch it.

o   

​The tails get closer and closer to the x axis and
eventually cross this axis.

o   

​The tails get
closer and closer to the x axis but never touch it.

o   

​The tails get closer and closer to the x axis and
eventually become this axis.

 

question2

You work in marketing for a company that
produces work boots. Quality control has sent you a memo detailing the length
of time before the boots wear out under heavy use. They find that the boots
wear out in an average of 208 days, but the exact amount of time varies, following
a normal distribution with a standard deviation of 14 days. For an upcoming ad
campaign, you need to know the percent of the pairs that last longer than six
months-that is, 180 days. Use the empirical rule to approximate this percent.​

o   

​95%

o   

2.5%

o   

97.5%

o   

​5%

·        
 

·        
question3

For any normally distributed random
variable with mean μ and standard deviation σ, the percent of the observations that
fall between  and   is closest to _______. 

o   

​​95%

o   

​16%

o   

​​68%

o   

​32%

·        
 

·        
question4

​A continuous random variable has the uniform distribution
on the interval [ab] if its probability density functionf(x)
___________.

o   

​is constant for all x between a and b, and 0 otherwise

o   

​is bell-shaped between a and b

o   

​is symmetric
around its mean

o   

​asymptotically approaches the x axis when x increases to
+∞ or decreases to -∞

·        
 

·        
 

·        
question5

Mutually exclusive and collectively
exhaustive events _______________.​

o   

​do not have to contain all outcomes in a sample space and
may share common outcomes

o   

​contain all
outcomes in a sample space and do not share common outcomes.

o   

​contain all outcomes in a sample space and may share
common outcomes

o   

​do not have to contain all outcomes in a sample space but
do not share common outcomes

·        
 

·        
 

·        
 

·        
question6

What is probability? 

o   

​Any value between 0 and 1 is always treated as a
probability of an event.

o   

​A value between 0
and 1 assigned to an event that measures the likelihood of its occurrence.

o   

​A value between 0 and 1 assigned to an event that
measures the unlikelihood of its occurrence.

o   

​A numerical value assigned to an event that measures the
number of its occurrences.

·        
 

·        
 

·        
question7

​Which of the following can be represented by a continuous
random variable?

o   

​The number of arrivals to a drive-thru bank window in a
four-hour period

o   

​The number of defective light bulbs in a sample of 5

o   

​The score of a randomly selected student on a
five-question multiple-choice quiz

o   

​The time of a
flight between Chicago and New York

·        
 

·        
 

·        
 

·        
question8

​Which of the following is correct?

o   

​A continuous random variable has a probability density
function but not a cumulative distribution function.

o   

​A continuous
random variable has a probability density function, and a discrete random
variable has a probability mass function.

o   

​A discrete random variable has a probability mass
function but not a cumulative distribution function.

o   

​A continuous random variable has a probability mass
function, and a discrete random variable has a probability density function.

·        
 

·        
 

·        
question9

​Which of the following can be represented by a discrete
random variable?

o   

​The finishing time of participants in a cross-country
meet

o   

​The number of
obtained spots when rolling a six-sided die

o   

​The average outside temperature taken every day for two
weeks

o   

​The height of college students

·        
 

·        
 

·        
 

·        
question10

​The probability that a normal random variable is less
than its mean is ____. 

o   

​Cannot be determined

o   

​0.0

o   

​​1.0

o   

​0.5

 



Week 4 CLO Business Decision Making Project, Part 2
Use the same business problem/opportunity and research variable you wrote about in Week 3.Remember: Do not actually collect any data; think hypothetically.Write a 700- to 1,050-word summary in which you:
  • Identify the types of descriptive statistics that might be best for summarizing the data, if you were to collect a sample.
  • Apply the types of inferential statistics that might be best for analyzing the data, if you were to collect a sample.
  • Analyze the role probability or trend analysis might play in helping address the business problem.
  • Analyze the role that linear regression for trend analysis might play in helping address the business problem.
  • Analyze the role that a time series might play in helping address the business problem.
Format your paper consistent with APA guidelines using the template at right.Click the Assignment Files tab to submit your assignment.


Week 4 Quiz·         ·        
question1

For a given set of explanatory variables,
in general:

o   

​a confidence
interval is narrower than a prediction interval.

o   

​a confidence interval is wider than a prediction
interval.

o   

​The width of a confidence interval cannot be determined.

o   

​the width of a confidence interval is the same as the
width of a prediction interval.

 

 

·        
question2

​The standard error of the estimate measures:

o   

​the variability of
the observed y-values around the predicted y-values.

o   

​the variability of the predicted y-values around the mean
of the observed y-values.

o   

​the variability of the values of the sample regression
coefficients.

o   

​the variability of the explanatory variables.

 

 

·        
question3

​In a simple linear regression model, if the plots on a
scatter diagram lie on a straight line, what is the standard error of the
estimate?

o   

​+1

o   

​-1

o   

​Infinity

o   

​0

 

 

·        
question4

Which of the following variables is not
qualitative?​

o   

​Gender of a person

o   

​Religious affiliation

o   

​Student's status (freshman, sophomore, etc.)

o   

​Number of
dependents claimed on a tax return

 

 

·        
question5

​Consider the following simple linear regression
model:   The response variable is: 

o   

​β0

o   

​x

o   

​y

o   

​ε

·        
 

·        
 

·        
 

·        
question6

​Another name for an explanatory variable is the
___. 

o   

​descriptive variable

o   

​independent
variable

o   

​inferred variable

o   

​dependent variable

·        
 

·        
 

·        
 

·        
 

·        
question7

​Serial correlation is typically observed in:

o   

​outliers.

o   

​sparse data.

o   

​cross-sectional
data.

o   

​time series data.

 

 

 

 

·        
question8

Consider the following simple linear
regression model:   β0 and β1 are:​

o   

​the unknown
parameters.

o   

​the random error terms.

o   

​the response variables.

o   

​the explanatory variables.

 

 

 

 

·        
question9

What is the name of the variable that's
used to predict another variable?​

o   

​Coefficient of Determination

o   

​Standard Error of the Estimate

o   

​Response

o   

​Explanatory

 

 

 

 

·        
question10

​Which of the following violates the assumptions of
regression analysis?

o   

​The error term has a constant variance.

o   

​The error term has a zero mean.

o   

​The error term is normally distributed.

o   

​The error term is
correlated with an explanatory variable.

 

Week 5 CLO Business Decision Making Project, Part 3: 
Signature AssignmentPrepare an 11- to 15-slide Microsoft® PowerPoint® presentation for the senior management team based on the business problem or opportunity you described in Week 3 and 4. Draw on material you developed in the Week 3 and 4 assignments.Include the following in your presentation:
  • Introduction slide
  • Agenda slide
  • Describe the organization, with a brief description
  • Explain the business problem or opportunity
  • Analyze why the business problem is important
  • Identify what variable would be best to measure for this problem. Explain why.
  • Apply data analysis techniques to this problem (tell which techniques should be used: descriptive stats, inferential stats, probability, linear regression, time series). Explain why.
  • Apply a possible solution to the problem/opportunity, with rationale.
  • Evaluate how data could be used to measure the implementation of such a solution.
  • Conclusion
  • References slide (if any source material is quoted or paraphrased throughout the presentation)
Include on the slides what you’d want the audience to see (include appropriate visual aids/layout) and include in the Speaker’s Notes section what you’d say as you present each slide. If any source material is quoted or paraphrased in the presentation, use APA citations and references.Click the Assignment Files tab to submit your presentation. 

Week 5 Final ExaminationComplete the final examination for Week 5
Powered by