### QNT 561 Complete Course

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Week 1

Individual Descriptive Statistics and Probability Distributions Problem Sets

Resource: Statistical Techniques in Business & Economics

Prepare responses to the following exercises from the text:

Exercises 80, 82, and 87 (Ch. 3)

Exercises 34, 36, and 38 (Ch. 5)

Exercises 45 and 62 (Ch. 6)

Exercises 42 and 45 (Ch. 7)

Discussion Questions

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

Individual Central Limit Theorem and Confidence Intervals Problem Sets

Prepare responses to the following exercises from the texts:

Exercises 21, 22, and 34 (Ch. 8) of Statistical Techniques in Business & Economics

Exercises 32, 34, and 46 (Ch. 9) of Statistical Techniques in Business & Economics

Discussion question 5 (at the end of Ch. 3) of Business Research Methods

Learning Team Business Research Methods, Part I

Identify and analyze a research question that applies to your organization.

Prepare a 350- to 700-word milestone.

Choose an organization with which your team is familiar.

Develop a research question arising from an organizational dilemma. Make sure you define the problem.

Determine an appropriate research design. Describe its characteristics, such as independent and dependent variables, operational definitions, and so forth.

Identify a sample design to use for collecting data.

Format your paper consistent with APA guidelines.

Discussion Questions

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

Individual Decision of Uncertainty Paper

Research statistical data in a business context that requires a decision. Use probability concepts to formulate a decision.

Write a 700- to 1,050-word paper, explaining your research methods and process for limiting the uncertainty in the decision.

Include how you applied concepts to formulate your decision.

Include appropriate probability concepts and your application to find resulting data to limit uncertainty in this decision.

Identify each outcome from your statistical analysis, providing rationale for each.

Identify tradeoffs between accuracy and precision required by various probability concepts and the effect on your data.

Include the decision you made based on statistical data.

Format your paper consistent with APA guidelines.

Discussion Questions

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

Individual Types of Surveys

Answer discussion question 5 (at the end of Ch. 10) of Business Research Methods.

Write a 150- to 200-word response for each part of the question. Provide a rationale to support your answers.

Learning Team Business Research Methods, Part II

Collect data using your sample design and appropriate collection methods to maintain data validity.

Prepare a 2- to 4-page milestone.

Create a questionnaire or survey appropriate for your sample.

Present your data in one of the appropriate general response types: rating, ranking, categorization, or sorting.

Classify your findings in order of power: nominal, ordinal, interval, and ratio. Do not discuss your analysis at this time.

Discussion Questions

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

Individual One- and Two-Sample Tests of Hypothesis, Variance, and Chi-squared Analysis Problem Sets

Resource: Statistical Techniques in Business & Economics

Prepare responses to the following exercises from the text:

Exercises 31, 32, and 38 (Ch. 10)

Exercises 27, 46, and 52 (Ch. 11)

Exercises 23 and 28 (Ch. 12)

Exercises 19 and 20 (Ch. 17)

Discussion Questions

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.

Week 6

Individual Comprehensive Problem Sets

Resource: Statistical Techniques in Business & Economics

Prepare responses to the following exercises from the text:

Exercise 88 (Ch. 3)

Exercise 56 (Ch. 5)

Exercise 64 (Ch. 6)

Exercise 50 (Ch. 7)

Exercise 38 (Ch. 8)

Exercise 54 (Ch. 9)

Exercise 42 (Ch. 10)

Exercise 58 (Ch. 11)

Exercise 42 (Ch. 12)

Exercises 37 (Ch. 13)

Exercises 17 (Ch. 14)

Exercise 22 (Ch. 17)

Learning Team Business Research Methods, Part III

Resource: Business Research Methods, Part II

Prepare a 1,050- to 1,400-word report.

Discuss the statistical analysis of your data from the Business Research Methods, Part II assignment.

Discuss potential challenges to validity and reliability of your research question, data, and analysis.

Outline steps needed to minimize these challenges.

Present your data in one of the appropriate general response types.

Classify your findings in order of power.

Format your paper consistent with APA guidelines.

Create a 7- to 10-slide Microsoft PowerPoint presentation accompanying your report and include detailed speakers notes.

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