Chapter 1: An Introduction to Business Statistics Chapter 2: Descriptive Statistics: Tabular and Graphical Methods Chapter 3: Descriptive Statistics: Numerical Methods Performance Report. 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. The Empirical Rule vs. Chebyshev’s Theorem. Discuss 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. Quiz 1. Due Day 6. Week One Quiz. Complete the quiz on the assigned readings for the week. Assignments Week One Problems. Complete the following problems from the textbook and submit them as a Word file. Chapter 1: 1.2, 1.17 Discussions 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? 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? Quiz 1. Due Day 6. Week Two Quiz. Complete the quiz on the assigned readings for the week. Assignments Week Two Problems. Complete the following problems from the textbook and submit them as a Word file. When appropriate, you may use either Excel or Megastat to complete (see tutorials in chapter appendices). Chapter 4: 4.4, 4.20, Discussions 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. In particular, discuss whether there is enough information presented in the article to arrive at the same conclusion as reported. Quiz 1. Due Day 6. Week Three Quiz. Complete the quiz on the assigned readings for the week. Assignments Week Three Problems. Complet
e the following problems from the textbook and submit them as a Word file. When appropriate, you may use either Excel or Megastat to complete (see tutorials in chapter appendices). Chapter 7: 7.11, 7.30, Discussions Hypothesis Test. 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. 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. A sample of containers was selected and the volume of paint in each container was measured. Assuming that the volume printed on each container is 1 gallon, how would you formulate the null and alternative hypotheses to test the customers’ claim? As a manager, what reasonable criteria will you use to set a value for the level of significance to be used in the test? After answering this question, what type of error would you suppose may result in that case? Quiz 1. Due Day 6. Week Four Quiz. Complete the quiz on the assigned readings for the week. Assignments Week Four Problems. Complete the following problems from the textbook and submit them as a Word file. When appropriate, you may use either Excel or Megastat to complete (see tutorials in chapter appendices). Chapter 9: 9.13, 9.22 Chapter 12: 12.10, 12.18(a) 1. Chapter 13: Simple Linear Regression Analysis 2. Chapter 15: Process Improvement Using Control Charts (on textbook website: londonessays.com Discussions 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. 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. Also, describe some of the most widely used tools in the industry for measuring and controlling quality, emphasizing their relationship to what you have encountered in this class. Finally, explain the example from your article of statistics as applied in a Quality Control context. Assignments Final Project. Focus of the Final Project To complete this project, use the “Final Project Data Set” found in your eCollege classroom in the Final Project description.