Description
Purpose of Assignment
The purpose of this assignment is to have students demonstrate mastery of the foundational concepts that set the stage for the remainder of the course. Students apply those concepts to business research questions or problem situations to focus their thinking on statistical literacy for use in business decision-making.
Assignment Steps
Resources: Week 1 Readings; Statistics Lab
Tutorial help on Excel® and Word functions can be found on the Microsoft® Office® website. There are also additional tutorials via the web that offer support for office products.
Develop a 1,050-word response addressing each of the following prompts:
- Define statistics with citation and reference.
- Contrast quantitative data and qualitative data. Use two peer reviewed references.
- Evaluate tables and charts used to represent quantitative and qualitative data.
- Describe the levels of data measurement.
- Describe the role of statistics in business decision-making.
- Provide at least two business research questions, or problem situations, in which statistics was used or could be used.
Use two peer reviewed references.
Format your assignment consistent with APA guidelines.
Chapters 1-3
Explanation & Answer
Attached.
Statistics- Outline
Thesis Statement: Statistics is an important branch of mathematics that helps in the collection of
data, its analysis, interpretation and the organization and the presentation of data.
I.
Qualitative and Quantitative Data
A. Frequency tables
B. Pie charts
C. Comparison
II.
Level of Measurement
A. Nominal
B. Ordinal
C. Interval
D. Ratio
III.
Role of Statistics in Business Decision-Making
A. Cost minimization
B. Goal setting
IV.
Problem Situations
A. Waste management
B. Policy demand
Running head: STATISTICS
1
Statistics
Name
Institution
STATISTICS
2
Statistics
Statistics is an important branch of mathematics that helps in the collection of data, its
analysis, interpretation and the organization and the presentation of data (Witmer, 2016).
Statistics helps in the analysis of the complicated data and ensures that there is focus on the
diversity of the data in the aspects of planning and conducting of experiments. The importance of
statistics ensures that there is an analysis of the surveys of the representation of data in a way that
there is the addition of value to the data. The focus on the design of the data and the
representation of the samples helps in improving the methods used in summarizing the data and
making sure that there is manipulation in assisting to improve the results as required for the
improvement of the systems (Witmer, 2016). There are different statistical methods, and the
main include the inferential and the descriptive statistics that help in the summary of the data and
focus on the c...
