Homework: Applied Business Research & Statistics
Purpose of Homework
The purpose of this homework is for students to synthesize the concepts learned throughout the course. This homework will provide students an opportunity to build critical thinking skills, develop businesses and organizations, and solve problems requiring data by compiling all pertinent information into one report
Scenario: Upon successful completion of the MBA program, imagine you work in the analytics department for a consulting company. Your homework is to analyze one of the following databases:
o Manufacturing
o Hospital
o Consumer Food
o Financial
Select one of the databases based on the information in the Signature Homework Options.
Provide a 1,600 words detailed four part statistical report with the following sections:
o Part I: Preliminary Analysis
o Part II: Examination of Descriptive Statistics
o Part III: Examination of Inferential Statistics
o Part IV Conclusion/Recommendations
Part I: Preliminary Analysis
Generally, as a statistics consultant, you will be given a problem and data. At times, you may have to gather additional data. For this homework, assume all the data is already gathered for you.
State the objective:
o What are the questions you are trying to address?
Describe the population in the study clearly and in sufficient detail:
o What is the sample?
Discuss the types of data and variables:
1. Are the data quantitative or qualitative?
2. What are levels of measurement for the data?
Part II: Descriptive Statistics
Examine the given data.
Present the descriptive statistics (mean, median, mode, range, standard deviation, variance, CV, and five-number summary).
Identify any outliers in the data.
Present any graphs or charts you think are appropriate for the data.
Note: Ideally, we want to assess the conditions of normality too. However, for the purpose of this exercise, assume data is drawn from normal populations.
Part III: Inferential Statistics
Use the Part III: Inferential Statistics document.
1. Create (formulate) hypotheses
2. Run formal hypothesis tests
3. Make decisions. Your decisions should be stated in non-technical terms.
Hint: A final conclusion saying "reject the null hypothesis" by itself without explanation is basically worthless to those who hired you. Similarly, stating the conclusion is false or rejected is not sufficient.
Part IV: Conclusion and Recommendations
Include the following:
1. What are your conclusions?
2. What do you infer from the statistical analysis?
3. State the interpretations in non-technical terms. What information might lead to a different conclusion?
4. Are there any variables missing?
5. What additional information would be valuable to help draw a more certain conclusion?
Format your homework according to the following formatting requirements:
(1) The answer should be typed, double spaced, 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 student's name, the course title, and the date. The cover page is not included in the required page length.
(3) Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.