RES 341 Week 4

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RES 341 Week 4

Individual Exercises From the E-Text

Resource: Applied Statistics in Business and Economics

Prepare answers to the following exercises from Applied Statistics in Business and Economics:

Chapter 5: Exercises 5.62 and 5.70

Note. Methods of computation could include the usage of Microsoft Excel, SPSS, Lotus, SAS, Minitab, or by hand computation.

Learning Team Descriptive Statistics Paper

Write and submit a 1,050-1,750-word paper, adding to your Week Three paper, examining the data you have collected and drawing conclusions based on your findings.

Include the following:

Data analysis using descriptive statistics

Calculate the measures of central tendency, dispersion, and skew for your data.

Display your descriptive statistical data using graphic and tabular techniques.

Frequency distribution

Histogram

Based on your skew value and histogram, discuss the best measures of central tendency and dispersion of your data. Justify your selection.

Conclusions

Discuss whether your research findings answered your problem statementthe research questionor if more research might be necessary.

Discussion Questions

Why is the population shape a concern when estimating a mean? What effect does sample size, n, have on the estimate of the mean?

Is it possible to normalize the data when the population shape has a known skew?

Define and discuss confidence intervals. Why are estimations and confidence intervals important? How can you use confidence intervals to establish statistical significance and/or lack of statistical significance?

How does the students t distribution compare to the normal z distribution? When do you use the student's t-test and when do you use the Z-test?

How can organizations be encouraged to adopt higher ethical standards?

In your opinion, who or what entity should be responsible for encouraging and maintaining higher standards?

A stakeholder is an individuals or groups who have a stake in what the organization does or how it performs. A stakeholder profits or losses from the actions that a company makes. Ch. 8 of Managing Business Ethics (Trevino & Nelson, 2007) separates stakeholders into four major stakeholder groups. How do you define stakeholders? Which groups interest is the most important, and why?

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