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MIS445 Columbia Southern Confidence Interval and P value Discussion
Confidence intervals and p-values are commonly used in business decision making. Using the CSU-Global Library, identify a ...
MIS445 Columbia Southern Confidence Interval and P value Discussion
Confidence intervals and p-values are commonly used in business decision making. Using the CSU-Global Library, identify at least two business journals (or articles) that have used confidence intervals and/or p-values. For each journal (or article), describe:the problem statementthe parameter(s) of interestthe conclusion and/or decision. In addition, state the sample size. If they are using a confidence interval, state the confidence level and margin of error. If they are using the p-value, state the hypotheses, p-value, and level of significance.Support your post with information and concepts from the class readings. Use APA-style references wherever necessary to support your discussion. See the MIS Library Guide (Links to an external site.)Links to an external site.for access to relevant databases and research.
MATH 410 Colorado University Tractor Sales Quantitative Business Analysis Paper
International Tractor Motors (ITM) had recently undertaken an ad campaign aimed at agricultural owners in a certain countr ...
MATH 410 Colorado University Tractor Sales Quantitative Business Analysis Paper
International Tractor Motors (ITM) had recently undertaken an ad campaign aimed at agricultural owners in a certain country in Asia. The ad campaign was devoted to promoting the new IT-8 large specialty tractor. Four sales associates were assigned to sell in different medium to large farms throughout the country for many days. One associate was assigned to the northern part of the country. Another was assigned to the southern part. The other two were assigned to the west and east, respectively. Because of regulations, a sales associate can sell at most one IT-8 tractor per day and only one such tractor per farm, too. A sales associate was successful if he or she sold a tractor during the day. Thus, ITM can sell at most 4 tractors (4 total sales) per day in this country.
Download the file titled Tractor Successes. It contains a scatter plot of the number of successes versus frequency. To compare the results to the Binomial Distribution, complete the following:
Explain why this tractor sales scenario can be a binomial experiment.
Using the Tractor Successes scatter plot, construct a frequency distribution for the number of successes.
Compute the mean number of successes. The formula for the mean is as follows: ?(x?f)?f?(x?f)?f
The terms x represent the total number of successes (0, 1, 2, 3, 4) and f is the corresponding frequency (number of days where x successes occurred).
Explain what the numerical result means.
From the frequency distribution, construct the corresponding relative frequency distribution.
Explain why the relative frequency distribution table is a probability distribution.
Then, use Excel to create a scatter plot of the probability distribution:
Select the two columns of the probability distribution. Click on INSERT, and then go to the Charts area and select Scatter. Then choose the first Scatter chart (the one without lines connecting).
Using the frequency distribution, what is the tractor sales success average? In part 3, note that the numerator in the formula for the mean is the total number of successes. The total number of trials is the denominator of the formula for the mean multiplied by 4. What does this average mean?
The Binomial Distribution is uniquely determined by n, the number of trials, and p, the probability of "success" on each trial. Using Excel, construct the Binomial Probability Distribution for four trials, n, and probability of success, p, as the tractor sales success average in part 5. Here is an explanation of the BINOM.DIST function in Excel: https://support.office.com/en-ie/article/BINOM-DIST-function-c5ae37b6-f39c-4be2-94c2-509a1480770c?ui=en-USrs=en-IEad=I (Links to an external site.)
For example, In Excel
=BINOM.DIST(7,15,0.7, FALSE)
represents the probability of 7 successes out of 15 (n) trials. The 0.7 is the probability of success, p.
Using the above value of n=4 with probability of success, p, as the tractor sales success average in part 5, what is the probability of at least two successes?
Using the formula for the mean of the Binomial Distribution, what is the mean number of successes in part 6 above?
In Excel, create a scatter plot for the Binomial Distribution. The instructions for creating a scatter plot are in part 4 above.
Use the results above to compare the probability distribution of tractor sales successes and the Binomial Distribution. Compare the means in parts 4 and 6, too.
If the probability distribution of tractor sales successes and the Binomial Distribution differ, explain why that is so.
Do you think the Binomial Distribution is a good model for the tractor sales success scenario? Why or why not?
How can International Tractor Motors use the Binomial Distribution to approximate tractor sales in similar countries?
In what other scenarios can International Tractor Motors use the Binomial Distribution? Explain.
4 pages
Mat 240 Real Estate
[Note: To complete this template, replace the bracketed text with your own content. Remove this Regional Real Estate Compa ...
Mat 240 Real Estate
[Note: To complete this template, replace the bracketed text with your own content. Remove this Regional Real Estate Company needs to analyze real ...
Boston University Prevail Physical Therapy & WiFi Network Research
With wifi and access points set up, Prevail Physical Therapy is open for business. Employees and clients arrive for their ...
Boston University Prevail Physical Therapy & WiFi Network Research
With wifi and access points set up, Prevail Physical Therapy is open for business. Employees and clients arrive for their first day at the new location and are eager to get to work. As is to be expected, however, there is some uncertainty among co-workers regarding how to use the new systems, as well as a few “bugs” that need to be worked out. You end up spending the entire day educating folks and resolving glitches.Kara, one of the physical therapists, emails you informing you that she can’t get on the network using her laptop. Click on the link below to read the email.First, research and list the troubleshooting steps you would take in this situation. During your troubleshooting you discover that the cafe is too far from the router. Determine how to resolve this issue and, using the Documentation Form, provide documentation for the resolution.
Testing for One-Way ANOVA
You had the chance earlier in the week to practice with the one-way ANOVA and obtain peer feedback. Now it is time to put ...
Testing for One-Way ANOVA
You had the chance earlier in the week to practice with the one-way ANOVA and obtain peer feedback. Now it is time to put all of that good practice to use and answer a social research question with the one-way ANOVA. As you head into the assignment, be sure and pay close attention to the assumptions of the test. Specifically, make sure the dependent and independent variables (factor) are amenable to use in the ANOVA (i.e., be sure to note levels of measurement).For this Assignment, you will examine the one-way ANOVA based on a research question.To prepare for this assignment:Review the resources attached related to one-way ANOVA testing.Using the SPSS software, open the Afrobarometer data-set found attached.Based on the variables in the data-set, construct a research question that can be answered with a one-way ANOVA.Once you perform your one-way ANOVA analysis, copy and paste your output into a Word document.Then write a 2- to 3-paragraph analysis of your one-way ANOVA results for your research question. Include any post-hoc tests with an analysis of the strength of any relationship found (effect size). Also, in your analysis, display the data for the output. Based on your results, provide an explanation of what the implications of social change might be in relation to the research question you created. Be sure to support your writing with a minimum of 2 scholarly articles when discussion the social change implications.Follow the attached guidelines for assistance when completing the assignment. APA Format.
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Most Popular Content
MIS445 Columbia Southern Confidence Interval and P value Discussion
Confidence intervals and p-values are commonly used in business decision making. Using the CSU-Global Library, identify a ...
MIS445 Columbia Southern Confidence Interval and P value Discussion
Confidence intervals and p-values are commonly used in business decision making. Using the CSU-Global Library, identify at least two business journals (or articles) that have used confidence intervals and/or p-values. For each journal (or article), describe:the problem statementthe parameter(s) of interestthe conclusion and/or decision. In addition, state the sample size. If they are using a confidence interval, state the confidence level and margin of error. If they are using the p-value, state the hypotheses, p-value, and level of significance.Support your post with information and concepts from the class readings. Use APA-style references wherever necessary to support your discussion. See the MIS Library Guide (Links to an external site.)Links to an external site.for access to relevant databases and research.
MATH 410 Colorado University Tractor Sales Quantitative Business Analysis Paper
International Tractor Motors (ITM) had recently undertaken an ad campaign aimed at agricultural owners in a certain countr ...
MATH 410 Colorado University Tractor Sales Quantitative Business Analysis Paper
International Tractor Motors (ITM) had recently undertaken an ad campaign aimed at agricultural owners in a certain country in Asia. The ad campaign was devoted to promoting the new IT-8 large specialty tractor. Four sales associates were assigned to sell in different medium to large farms throughout the country for many days. One associate was assigned to the northern part of the country. Another was assigned to the southern part. The other two were assigned to the west and east, respectively. Because of regulations, a sales associate can sell at most one IT-8 tractor per day and only one such tractor per farm, too. A sales associate was successful if he or she sold a tractor during the day. Thus, ITM can sell at most 4 tractors (4 total sales) per day in this country.
Download the file titled Tractor Successes. It contains a scatter plot of the number of successes versus frequency. To compare the results to the Binomial Distribution, complete the following:
Explain why this tractor sales scenario can be a binomial experiment.
Using the Tractor Successes scatter plot, construct a frequency distribution for the number of successes.
Compute the mean number of successes. The formula for the mean is as follows: ?(x?f)?f?(x?f)?f
The terms x represent the total number of successes (0, 1, 2, 3, 4) and f is the corresponding frequency (number of days where x successes occurred).
Explain what the numerical result means.
From the frequency distribution, construct the corresponding relative frequency distribution.
Explain why the relative frequency distribution table is a probability distribution.
Then, use Excel to create a scatter plot of the probability distribution:
Select the two columns of the probability distribution. Click on INSERT, and then go to the Charts area and select Scatter. Then choose the first Scatter chart (the one without lines connecting).
Using the frequency distribution, what is the tractor sales success average? In part 3, note that the numerator in the formula for the mean is the total number of successes. The total number of trials is the denominator of the formula for the mean multiplied by 4. What does this average mean?
The Binomial Distribution is uniquely determined by n, the number of trials, and p, the probability of "success" on each trial. Using Excel, construct the Binomial Probability Distribution for four trials, n, and probability of success, p, as the tractor sales success average in part 5. Here is an explanation of the BINOM.DIST function in Excel: https://support.office.com/en-ie/article/BINOM-DIST-function-c5ae37b6-f39c-4be2-94c2-509a1480770c?ui=en-USrs=en-IEad=I (Links to an external site.)
For example, In Excel
=BINOM.DIST(7,15,0.7, FALSE)
represents the probability of 7 successes out of 15 (n) trials. The 0.7 is the probability of success, p.
Using the above value of n=4 with probability of success, p, as the tractor sales success average in part 5, what is the probability of at least two successes?
Using the formula for the mean of the Binomial Distribution, what is the mean number of successes in part 6 above?
In Excel, create a scatter plot for the Binomial Distribution. The instructions for creating a scatter plot are in part 4 above.
Use the results above to compare the probability distribution of tractor sales successes and the Binomial Distribution. Compare the means in parts 4 and 6, too.
If the probability distribution of tractor sales successes and the Binomial Distribution differ, explain why that is so.
Do you think the Binomial Distribution is a good model for the tractor sales success scenario? Why or why not?
How can International Tractor Motors use the Binomial Distribution to approximate tractor sales in similar countries?
In what other scenarios can International Tractor Motors use the Binomial Distribution? Explain.
4 pages
Mat 240 Real Estate
[Note: To complete this template, replace the bracketed text with your own content. Remove this Regional Real Estate Compa ...
Mat 240 Real Estate
[Note: To complete this template, replace the bracketed text with your own content. Remove this Regional Real Estate Company needs to analyze real ...
Boston University Prevail Physical Therapy & WiFi Network Research
With wifi and access points set up, Prevail Physical Therapy is open for business. Employees and clients arrive for their ...
Boston University Prevail Physical Therapy & WiFi Network Research
With wifi and access points set up, Prevail Physical Therapy is open for business. Employees and clients arrive for their first day at the new location and are eager to get to work. As is to be expected, however, there is some uncertainty among co-workers regarding how to use the new systems, as well as a few “bugs” that need to be worked out. You end up spending the entire day educating folks and resolving glitches.Kara, one of the physical therapists, emails you informing you that she can’t get on the network using her laptop. Click on the link below to read the email.First, research and list the troubleshooting steps you would take in this situation. During your troubleshooting you discover that the cafe is too far from the router. Determine how to resolve this issue and, using the Documentation Form, provide documentation for the resolution.
Testing for One-Way ANOVA
You had the chance earlier in the week to practice with the one-way ANOVA and obtain peer feedback. Now it is time to put ...
Testing for One-Way ANOVA
You had the chance earlier in the week to practice with the one-way ANOVA and obtain peer feedback. Now it is time to put all of that good practice to use and answer a social research question with the one-way ANOVA. As you head into the assignment, be sure and pay close attention to the assumptions of the test. Specifically, make sure the dependent and independent variables (factor) are amenable to use in the ANOVA (i.e., be sure to note levels of measurement).For this Assignment, you will examine the one-way ANOVA based on a research question.To prepare for this assignment:Review the resources attached related to one-way ANOVA testing.Using the SPSS software, open the Afrobarometer data-set found attached.Based on the variables in the data-set, construct a research question that can be answered with a one-way ANOVA.Once you perform your one-way ANOVA analysis, copy and paste your output into a Word document.Then write a 2- to 3-paragraph analysis of your one-way ANOVA results for your research question. Include any post-hoc tests with an analysis of the strength of any relationship found (effect size). Also, in your analysis, display the data for the output. Based on your results, provide an explanation of what the implications of social change might be in relation to the research question you created. Be sure to support your writing with a minimum of 2 scholarly articles when discussion the social change implications.Follow the attached guidelines for assistance when completing the assignment. APA Format.
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