Business statistics | business statictis

 

In this course, learners are introduced to business statistics and the need for quantitative analysis in business, basic procedures in problem-solving, and the sources and types of data used in the enterprise. Each lesson will include defining and formulating problems, instruction on the statistical method, analyzing the data, and using the results to make decisions.

Have you ever heard the phrase that we live in a knowledge economy? It’s a good bet that you have. Data is everywhere! We use data in education, healthcare, advertising, accounting, information sciences, biology, political science, banking, and retail just to name a few. Data are so important because when it is properly gathered and analyzed it becomes information. Information allows businesses to make critical decisions about pricing, products, consumers, and operations. As a matter of fact, the reason that Facebook ® is considered the most expensive real estate on the world wide web, is because Facebook collects data that it then sells to businesses. The businesses use the data (demographics, income, travel habits, pets, political affiliations, etc) to learn all about consumers and in turn markets to consumers across the web!

In order to meet the learning outcomes for this class, you are expected to complete a course project. The purpose of the project for you to demonstrate your ability to:

  1. Formulate questions;
  2. Collect data;
  3. Analyze data;

 4.Interpret results.

Your Task

  • Formulate a research question related to your major or concentration (health and wellness, management, information systems, accounting, finance, etc) Example: What is the relationship between gender, ethnicity, and salary in Fortune 100 companies?
  • Present a null and alternative hypothesis (you will test the hypothesis)
  • Identify the type of data (qual vs quan)
  • Identify the population and sample
  • Identify sources of data (should be a public data set so that you will not have to pay for it)
  • Identify the variables
  • Perform descriptive statistics 
  • Present the data visually where applicable
  • Analyze the data
  • Test the hypothesis using one of the methods studied in this class
  • Provide an interpretation and explanation of the results

Evaluation

  • Students will submit a written report and will present their project in class. Your report can be in the form of a Google Slides or Powerpoint presentation HOWEVER you must submit your Excel spreadsheet that contains(1) your original data (2) all statistical tests that you performed to analyze the data.  
  • You presentation should be an interpretation of the results where you 
    • Formulated a research question related to your major or concentration (health and wellness, management, information systems, accounting, finance, etc) Example: What is the relationship between gender, ethnicity, and salary in Fortune 100 companies?
    • Presented a null and alternative hypothesis (you will test the hypothesis)
    • Identified the type of data (qual vs quan)
    • Identified the population and sample
    • Identified sources of data (should be a public data set so that you will not have to pay for it)
    • Identified the variables

Each of these actions (above)  must be prominently identified in your presentation. I should not have to look for them.

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