QNT 561 All DQs

Week 1

How may variance and standard deviation be applied to a real-world business-related problem? Provide a specific application in which these measures are useful.

When would you use descriptive over inferential statistics? Provide a specific scenario and explain your rationale.

Why is using Bayes theorem important to help answer business-related questions? What does this theorem allow you to do that traditional statistics do not? What are some prerequisites for using Bayesian statistics?

As a manager, what are some benefits of applying probability concepts to solve business-related problems? Would business decisions suffer without probability concepts? Explain.

Week 2

Read Albert Einsteins quote on p. 55 of Business Research Methods. What is the value of this statement in terms of the research process? What is the relevance and relationship of this statement to the technologically advancing business world? Where do these questions allow us to go?

What are some examples of operational definitions in research design within your profession?

Of the exploratory, formalized, and casual research designs types, which would you use to assess the effectiveness of an aspect of your job? Explain.

What is the purpose of sampling? What are some concerns and dangers of sampling? How important is the sample design to data validity? Explain. Provide an example where a sample might misrepresent data validity.

Week 3

How does each key managerial dimension promote effective research? How does each dimension help meet desired results? What is the inherent value of these dimensions to a manager and the decision-making process?

You have received a business research study done by a consultant for a life insurance company. The study is a survey of customer satisfaction based on a sample of 600. You are asked to comment on its quality. What do you look for?

In your organizations management development program, there was a heated discussion between people who claimed that theory is impractical and not effective, and others who claimed that effective theory is the most practical approach to problems. What position would you take and why?

Week 4

Validity is more critical to measurement than reliability. A valid measurement is reliable, but a reliable measurement may not be valid. Do you agree with these statements? Explain your answer. Provide examples to support your rationale.

What are some critical decisions involved in selecting an appropriate measurement scale? How do these decisions influence the research design?

What is the importance of pretesting questions and instruments? What are risks of not doing this? Provide an example.

How do question content and wording, response strategy, and preliminary analysis planning affect question construction? Provide examples of questions that were positively and negatively influenced by these elements.

Week 5

What is the importance of the null hypothesis? Why has it been the backbone of mainstream hypothesis testing for decades? What are its limitations?

What is the value of performing hypotheses tests to solve problems related to business and operations management? Provide specific examples.

What are differences between dependent and independent samples? Provide examples. What are implications for determining the tests used to analyze data?

When would you use a one- or two-sample hypothesis test? Provide examples.