Week 4 Discssions 1 and 2 BUS308

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orgunal1973

Mathematics

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Confidence Intervals Many people do not “like” or “trust” single point estimates for things they need measured. Looking back at the data examples you have provided in the previous discussion questions on this issue, how might adding confidence intervals help managers accept the results better? Why? Ask a manger in your organization if they would prefer a single point estimate or a range for important measures, and why? Please share what they say. Guided Response: Review several of your classmates’ posts. Respond to at least two classmates by commenting on whether or not you think adding or using confidence intervals would result in greater acceptance. Explain if you agree or disagree with the role of a confidence interval in the interpretation of the answer. Chi-Square Tests Chi-square tests are great to show if distributions differ or if two variables interact in producing outcomes. What are some examples of variables that you might want to check using the chi-square tests? What would these results tell you? Guided Response: Review several of your classmates’ posts. Respond to at least two classmates by commenting on how this information might be used to make business decisions.
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