Homework I: Analytics Driven Decision-making
Managers in more advanced analytics companies give more weight to analytics when they make key business decisions. Employees frequently look for signals about what is important to management, and whether what is important today will be important tomorrow.
1. How can management help employees understand what analytics are important to monitor on a regular basis and what analytics could fluctuate as the business cycle runs its course?
2. Write your responses in detail with examples. Be sure to identify the source of your example in your posting. Your initial post should be of minimum 250 words.
Homework II: Hypothesis Testing
The manager of a large manufacturing firm is considering switching to new and expensive software that promises to reduce its assembly costs. Before purchasing the software, the manager wants to conduct a hypothesis test to determine if the new software does reduce its assembly costs.
1. Would the manager of the manufacturing firm be more concerned about a Type I error or a Type II error? Explain.
2. Would the software company be more concerned about a Type I error or a Type II error? Explain.
3. Write your responses in detail with examples. Be sure to identify the source of your example in your posting. Your initial post should be of minimum 250 words.
Format your homework according to the give formatting requirements:
1. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the homework, the course title, the student's name, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.