Description
In an APA formatted Word document of at least 5 pages of content: * Discuss the four dimensions of statistical reasoning / thinking used in statistical inquiry * Provide and explain a specific example of the application of the four steps process in a managerial decision-making. Please see Wild and Pfankuch (1999) four dimensions of statistical thinking, week 5 lecture notes * For valid inferences about a diverse population, why isn’t it more important to have a representative sample than a random sample? | |
Explanation & Answer
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Outline
i.
Introduction
a. In making managerial decisions, statistical reasoning and thinking form
imperative approaches that facilitate making informed decisions.
ii.
Discussion
a. Statistical reasoning and thinking may also involve connecting one concept to
another, such as center and spread, that combines ideas relating to information
and possibilities.
b. Four Dimensions of Statistical Reasoning
i. Investigative Cycle
ii. Type of Thinking
iii. Interrogative Process
iv. Disposition
c. Samples in Diverse Population
iii.
Conclusion
Running head: STATISTICAL REASONING
Statistical Reasoning/Thinking
Student’s Name
Institutional Affiliation
1
STATISTICAL REASONING
2
Statistical Reasoning/Thinking
In making managerial decisions, statistical reasoning and thinking form imperative
approaches that facilitate making informed decisions. Coladarci, Cobb, Minium, and Clarke
(2010) noted that statistical reasoning entails the way individuals reason based on statistically
instigated ideas that help make sense of statistical data. Statistical reasoning applies
mathematical processes to enhance the involved custodian’s capability to decide that would help
accomplish the intended goals and objectives. On the other hand, statistical thinking entails
understanding why and how a researcher conducts the statistical examination, including
understanding and recognizing the examination process that includes questions, data collection,
data analysis, and testing the necessary assumption to ensure that the findings. The process
fosters understanding the models in simulating random phenomena, probability estimation,
recognizing how, when, and why one can use the inferential tool. Statistical reasoning and
thinking facilitate evaluating a problem necessary in drawing supported decisions making the
technique important in the managerial decision-making process.
Discussion
Statistical reasoning and thinking may also entail connecting one concept to another, such
as center and variation, that combines ideas relating to information and possibilities. In this case,
statistical reasoning entails a person’s ability to comprehend and explain statistical approaches
while fully interpreting statistical results. Therefore, statistical reasoning and thinking facilitate
applying mathematica...
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