### Question Description

**Watch **the instructional video by clicking on the Lynda.com^{®} link.

**Type** the title "Statistics Foundations: 2" in the Search Bar to find the video.** **

**Watch** the following tutorials from Section 3:

- Standard Error (for Proportions)

**Consider** the following as you watch:

- What is the impact of the sample size?
- Understand a standard error is a measure of variability.

**Purpose of Assignment**** **

The purpose of this assignment is to provide students the opportunity to demonstrate mastery of their ability to apply statistical concepts to business situations to inform data-driven decision-making. The project is a 3-week project, with part 1 in Week 3, part 2 in Week 4, and part 3 in Week 5. In Week 3, students identify the organization, problem, research variable, methods for collecting data, and show mastery of validity and reliability as applied to data-collection methods.

**Resources: **Week 3 Videos; Week 3 Readings; Statistic Lab

Tutorial help on Excel^{®} and Word functions can be found on the Microsoft^{®} Office website. There are also additional tutorials via the web offering support for Office products.** **

**Assignment Steps**** **

**Identify **a business problem or opportunity at a company where you work or with which you are familiar. This will be a business problem you use for the individual assignments in Weeks 3-5. It should be a problem/opportunity for which gathering and analyzing some type of data would help you understand the problem/opportunity better.

**Identify** a research variable within the problem/opportunity that could be measured with some type of data collection.

**Consider** methods for collecting a suitable sample of either qualitative or quantitative data for the variable.

**Consider**** **how you will know if the data collection method would be valid and reliable.

**Develop** a 1,050-word analysis to describe a company, problem, and variable including the following in your submission:

- Identify the name and description of the selected company.
- Describe the problem at that company.
- Identify one research variable from that problem. Describe the methods you would use for collecting a suitable sample of either qualitative or quantitative data for the variable (
*Note*: do not actually collect any data). - Analyze how you will know if the data collection method would generate valid and reliable data (
*Note*: do not actually collect any data).

**Format** your assignment consistent with APA guidelines.** **

**They also recommend these videos from Lynda.com**

**Watch **the instructional video by clicking on the Lynda.com^{®} link.

**Type** the title "Statistics Foundations: 2" in the Search Bar to find the video.** **

**Watch** the following tutorials from Section 3:

**Standard Error (for Proportions)**

**Consider** the following as you watch:

**What is the impact of the sample size?****Understand a standard error is a measure of variability.**

**Watch **the instructional video by clicking on the Lynda.com^{®} link.

**Type** the title "Statistics Foundations: 2" in the Search Bar to find the video.** **

**Watch** the following tutorials from Section 3:

- The Central Limit Theorem

**Consider** the following as you watch:

- What are characteristics of a normal distribution?
- Describe are data distributed in large and small samples.

**Watch **the instructional video by clicking on the Lynda.com^{®} link.

**Type** the title "Statistics Foundations: 2" in the Search Bar to find the video.** **

**Watch** the following tutorials from Section 4:

- What Is a Confidence Interval?

**Consider** the following as you watch:

- How do you calculate the mean and error of a sampling distribution

**Watch **the instructional video by clicking on the Lynda.com^{®} link.

**Type** the title "Statistics with Excel Part One" in the Search Bar to find the video.** **

**Watch** the following tutorials from Section 8:

- Central Limit Theorem

**Consider** the following as you watch:

- Describe in what way probabilities help estimate parameters to test a hypothes
**Watch**the instructional video by clicking on the Lynda.com^{®}link.**Type**the title "Statistics with Excel Part One" in the Search Bar to find the video.**Watch**the following tutorials from Section 8:- Central Limit Theorem

**Consider**the following as you watch:- Describe in what way probabilities help estimate parameters to test a hypothesis

- Central Limit Theorem

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## Final Answer

Attached.

Running Head: DECISION-MAKING PROJECT PART 1: PROBLEM IDENTIFICATION

DECISION-MAKING PROJECT PART 1: PROBLEM IDENTIFICATION

Student’s Name

Professor’s Name

Course title

Date

1

DECISION-MAKING PART 1: PROBLEM IDENTIFICATION

2

DECISION-MAKING PROJECT PART 1: PROBLEM IDENTIFICATION

Columbus Chemical Industries, Inc.

Columbus Chemical Industries, Inc. is a chemical manufacturing company that was

founded in 1978 and is headquartered in Columbus, Wisconsin. The company specializes in the

manufacture and supply of fine and high purity chemicals such as solvents, bases, nitric acids

and salts for diverse industries such as energy, semiconductor, biotech, medical device and

industrial manufacturing. The company’s main goal is to deliver the needed solutions through

chemistry and offering quality products to meet the specific needs of customers (Columbus

Chemical Industries, 2017).

Description of the problem

The main problem facing the company is high operational costs that are greatly impairing

the operational efficiency of the company and reducing its profitability at the same time. With

increased demand for chemical products, Columbus Chemical Industries Inc. is faced with the

necessity of increasing its production volumes. However, customers have high expectations with

regards to product quality, price, and availability and this means the company has to invest a lot

of funds in its operational processes to bring out the desired results. Columbus Chemical has to

come up with innovative manufacturing, process designs, and chemical formulas ...

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