...MTH 233 Week 4 Individual Assignment: Individual Assignment MTH 233 Week 5 Individual Assignment: Individual Assignment MTH 233 Week 5 Learning Team Assignment: Hypothesis Testing and Regression Analysis Paper only MTH 233 Learning Team Assignment: Hypothesis Testing and Regression Analysis Presentation ----------------------------------------------- MTH 233 Learning Team Assignment Hypothesis Testing and Regression Analysis Presentation For more classes visit www.snaptutorial.com Resources: University Library and the Internet Select a research issue, problem, or opportunity facing a Learning Team member’s organization to examine using hypothesis testing and a regression analysis on the collected data. Write a 1,050- to 1,750-word paper describing a new hypothesis test using a different statistic (e.g., large sample size, small sample size, means and/or proportions, one- and two-tailed tests) to perform on that data. Formulate a new hypothesis statement and perform the five-step hypothesis test on the data. Describe the results of the tests. Interpret the results of the regression analysis, state the limitations of the analysis, and describe the significance of the results to the organization. Be sure to attach the results of the regression analysis created in Microsoft® Excel to your paper. Present the results to the class in a 10-minute PowerPoint® presentation ----------------------------------------------- MTH 233 Week 2 Individual Assignment...
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...Descriptive and Inferential Statistics ________________________________________ Statistics can be broken into two basic types. The first is known as descriptive statistics. This is a set of methods to describe data that we have collected. Ex. Of 350 randomly selected people in the town of Luserna, Italy, 280 people had the last name Nicolussi. An example of descriptive statistics is the following statement : "80% of these people have the last name Nicolussi." Ex. On the last 3 Sundays, Henry D. Carsalesman sold 2, 1, and 0 new cars respectively. An example of descriptive statistics is the following statement : "Henry averaged 1 new car sold for the last 3 Sundays." These are both descriptive statements because they can actually be verified from the information provided. The second type of statistics in inferential statistics. This is a set of methods used to make a generalization, estimate, prediction or decision. Ex. Of 350 randomly selected people in the town of Luserna, Italy, 280 people had the last name Nicolussi. An example of inferential statistics is the following statement : "80% of all people living in Italy have the last name Nicolussi." We have no information about all people living in Italy, just about the 350 living in Luserna. We have taken that information and generalized it to talk about all people living in Italy. The easiest way to tell that this statement is not descriptive is by trying to verify it based upon the information provided. Ex....
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...Hypothesis 1 – Average Income level 5 Descriptive Statistics 5 Hypothesis of the test 5 Statistical Findings 6 Interpretation of results 6 3.2 Question 2: Satisfaction level between gender 7 Descriptive statistics 7 Hypothesis 7 Method used and nature of the test 7 Reporting of statistical analysis 8 Interpretation of results 8 3.3 Question 3: Difference between satisfaction levels across business divisions. 9 Descriptive Statistics 9 Hypothesis 9 Method used and the nature of the test 9 Reporting of Results 9 Interpretation of results 10 3.4 Question 4: Gender composition across divisions 11 Descriptive Statistics 11 Hypothesis 11 Method used 11 Reporting of Statistical analysis 11 Interpretation of results 12 3.5 Question 5: Years of service and overall satisfaction level 12 Null and alternate hypothesis 12 Method used 12 Nature of test used: 13 Reporting of Results 13 3.6 Question 6: Employment basis and their perception of their values. 14 Descriptive Statistics 14 Hypothesis 14 Method used and the nature of the test 14 Reporting of Results 15 Interpretation of results 15 3.7 Question 7: Difference between values employees placed on income and training opportunities 16 Descriptive statistics 16 Hypothesis 16 Method used and nature of the test 16 Reporting of statistical analysis 17 Interpretation of results 17 3.8 Question 8: Value on work social events and numbers of hours 18 Descriptive statistics 18 Hypothesis 18 Method used and nature...
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...Introduction Predictive analytics is an advanced analytics technique. Predective analytics uses both new and historical data to foresee the result, activity, behavior and trends. Statistics is branch of mathematics, mainly concerns about collection, analysis, interpretation and presentation of tons of numerical facts. Statistics is used in almost every field of research. Head to Head Comparisons Predictive Analytics Statistics Definition Predictive analytics is branch of the data analytics to predict the future events. Statistics in simpler terms is collection of numerical facts. It is the science of collecting, classifying and representing the numerical data. Why it matters? Predictive analytics can identify the risks and opportunities...
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...533: Applied Managerial Statistics Course Project Part C: Regression and Correlation Analy Summary After statistical analysis of data collected on a random sample of AJ Davis’ customers, several inferences can be made. The goal of this analysis was to determine the best model for predicting customer income. This knowledge is paramount in most aspects of the company including but not limited to advertising, sales and merchandising. Based on the analysis, it is determined that a model using customer credit balance and household size is the most efficient. These variables gave the most reliable predictions of customer income. At the close of the analysis, the data yielded the following equation for determining customer income, income== - 1.90 + 0.0173 CREDIT BALANCE($) - 5.30 SIZE - 0.390 YEARS. Though, the number of years a customer has live in their home did not show high effectiveness in predicting income, it increased the overall fit of the model and has been included in the equation. We can be 95% confident in the data obtained through the use of this formula. Appendix 1. 2. Regression Analysis: INCOME($1000) versus CREDIT BALANCE($) The regression equation is INCOME($1000) = 4.45 + 0.00987 CREDIT BALANCE($) Predictor Coef SE Coef T P Constant 4.448 7.037 0.63 0.530 CREDIT BALANCE($) 0.009866 0.001728 5.71 0.000 S = 11.3247 R-Sq = 40.5% R-Sq(adj) = 39.2% Analysis of Variance Source ...
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...dsStatistics is the study of the collection, organization, analysis, interpretation and presentation of data.[1][2] It deals with all aspects of data, including the planning of data collection in terms of the design of surveys and experiments.[1] The word statistics, when referring to the scientific discipline, is singular, as in "Statistics is an art."[3] This should not be confused with the word statistic, referring to a quantity (such as mean ormedian) calculated from a set of data,[4] whose plural is statistics ("this statistic seems wrong" or "these statistics are misleading"). More probability density is found the closer one gets to the expected (mean) value in a normal distribution. Statistics used in standardized testing assessment are shown. The scales include standard deviations, cumulative percentages, percentile equivalents, Z-scores, T-scores, standard nines, and percentages in standard nines. Contents [hide] * 1 Scope * 2 History * 3 Overview * 4 Statistical methods * 4.1 Experimental and observational studies * 4.2 Levels of measurement * 4.3 Key terms used in statistics * 4.4 Examples * 5 Specialized disciplines * 6 Statistical computing * 7 Misuse * 8 Statistics applied to mathematics or the arts * 9 See also * 10 References | ------------------------------------------------- Scope[edit] Some consider statistics a mathematical body of science that pertains to the collection, analysis, interpretation or explanation, and presentation...
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...Definition of Statistics Statistics like many other sciences is a developing discipline. It is not nothing static. It has gradually developed during last few centuries. In different times, it has been defined in different manners. Some definitions of the past look very strange today but those definitions had their place in their own time. Defining a subject has always been difficult task. A good definition of today may be discarded in future. It is difficult to define statistics. Some of the definitions are reproduced here: The kings and rulers in the ancient times were interested in their manpower. They conducted census of population to get information about their population. They used information to calculate their strength and ability for wars. In those days statistics was defined as “The science of kings, political and science of statecraft” 1. A.L. Bowley defined statistics as “Statistics is the science of counting” This definition places the entries stress on counting only. A common man also thinks as if statistics is nothing but counting. This used to be the situation but very long time ago. Statistics today is not mere counting of people, counting of animals, counting of trees and counting of fighting force. It has now grown to a rich methods of data analysis and interpretation. 2. A.L. Bowley has also defined as “Science of averages” This definition is very simple but it covers only some area of statistics. Average is very simple important in statistics. Experts...
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...Statistics in Business QNT 351 August, 2012 University of Phoenix What are Statistics? Statistics is the science involved in the application of quantitative principles to the collection, description, interpretation, and presentation of numerical data, as well as the meaning of collected data within the realm of business, and is also commonly used for marketing procedures. Statistics generally deals with the main business elements and the planning process of the data that have been collected through the development of surveys as well as additional tests. Types and Levels of Statistics Even though statistics is general term, there are still two different types of statistics, which includes descriptive statistics that consist of methods for organizing, displaying, and describing data through the use of tables, graphs, and summary measures (Gunning, n.d.). The second type of statistics is inferential statistics, which is a process of describing the population based on the sample results (Gunning, n.d.). Aside from the two main types of statistics that are common, there are also different levels of measurement involved in statistics. There are four levels of measurement, which includes nominal data, ordinal data, interval data, and ratio data. Each level of measurement achieves different results in a survey, and not all researchers will use every level of measurement. Each one of the four levels of measurement serves a different purpose in the study procedure and...
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...Statistics for Business RES/351 Abstract This paper defines statistics as used in business, identifies different types and levels of statistics, and discusses the role of statistics in business decision-making. Within this paper, three examples of situations in which statistics are commonly used are also discussed. Statistics for Business The use of statistics in business is the collection, organization, analysis, and interpretation of various data used in business and marketing. Two types of statistics commonly used in business are descriptive and inferential statistics. Descriptive statistics uses numbers to look for patterns within particular datasets. Inferential statistics requires drawing conclusions in predicting future numbers based on sample data. With both types of statistics, businesses are able to better manage, process, and predict trends in many different business processes. Statistical Methods In statistics, there are several types of methods including experimental, observational, levels of measurement, and null hypothesis (Washington, 2002). In the experimental method, causality is determined through investigation and conclusions are drawn based on the effect of the changes in values of independent variables. When the correlation between two different aspects is studied, the observational study method is being employed. Another method is levels of measurement. With this method, nominal, ordinal, interval, and...
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...and statistics are two related but separate academic disciplines. Statistical analysis often uses probability distributions, and the two topics are often studied together. However, probability theory contains much that is of mostly of mathematical interest and not directly relevant to statistics. Moreover, many topics in statistics are independent of probability theory. Probability (or likelihood) is a measure or estimation of how likely it is that something will happen or that a statement is true. Probabilities are given a value between 0 (0% chance or will not happen) and 1 (100% chance or will happen). The higher the degree of probability, the more likely the event is to happen, or, in a longer series of samples, the greater the number of times such event is expected to happen. These concepts have been given an axiomatic mathematical derivation in probability theory (see probability axioms), which is used widely in such areas of study as mathematics, statistics, finance, gambling, science, artificial intelligence/machine learning and philosophy to, for example, draw inferences about the expected frequency of events. Probability theory is also used to describe the underlying mechanics and regularities of complex systems. Statistics is the study of the collection, organization, analysis, interpretation and presentation of data. It deals with all aspects of data, including the planning of data collection in terms of the design of surveys and experiments. The word statistics, when...
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...probability and statistics are worked with in the business. Understanding how important statistics and its value to any business will lead the way to success. Overview of the Data Set The variables consist of both quantitative and qualitative data in regards to quantitative data that is known to have a numeric value as this data set includes age, job satisfaction and benefits (Cernauskas, Grey, Hemphill & Segal, 2011). The Qualitative data has a nonnumeric value and the variables for this data set consist of gender, position and department (Cernauskas et al, 2011). The two categories together provide the statistical data for the AIU staff analysis. Use of Statistics and Probability in the Real World The probability theory has survived for over three hundred years and it has grown to be a major part of everyday life (Vidal, n. d.). We have all made decisions based on the simplest activity such as picking straws or rolling dice. However, decisions are also based on likelihood of an event or simply by a hunch (Cernauskas et al, 2011). There are substantial ways that statistics are being used today ranging from areas in genetics, economics, and medicine. Another important use for statistics is for education; the National Center for Educational Statistics (NCES) provides analysis and reports on the data collected in regards to the condition of education in the US as well as the conducting and reporting of educational activities worldwide (National Center for Statistics, n. d.)....
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...Statistics in Business Statistics is defined by Merriam-Webster as a branch of math dealing with the collection, analysis, interpretation and presentation of masses of numerical data; or a collection of quantitative data (Statistics, n.d.). Statistics is all around us. Everything from our actions, to our purchases, to even sports involve the collection, analysis, interpretation and presentation of data. There are two types of statistics. One type is called, descriptive statistics, which uses numbers and graphs to identify patterns and trends in data sets and is used to present revealed information in an easy to understand form. The other type of statistic is known as inferential statistic. Inferential statistics is using sample data collected from a smaller sample, and using those results to make predictions, estimates, decisions and other generalizations about a larger set of data (McClave, Benson, & Sincich, 2011). Statistics plays a number of roles in business decisions. One of the more obvious roles it plays is in marketing. Research studies allow businesses to be proactive by predicting customer behavior and creating specific marketing plans. For instance a business that sells sandals would use statistics to identify when sales have increased and when they are likely to increase again. For instance the spring and summer months show statistics of higher sales, which tells the business to increase inventory at those times. Another one of the many roles statistics...
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...QNT/351, June 01, 2015 Question 5: Descriptive Statistics: Your supervisor treated you fairly. Finding Data |Descriptive statistics | | | | | | | | | | | | | | | | | |Q5 | | | | | |cumulative | | | lower | |upper |midpoint |width | frequency |percent | frequency |percent | | |1 |< |2 |2 |1 |12 |15.4 |12 |15.4 | | |2 |< |3 |3 |1 |18 |23.1 |30 |38.5 | | |3 |< |4 |4 |1 |15 |19.2 |45 |57.7 | | |4 |< |5 |5 |1 |15 |19.2 |60 |76.9 | | |5 |< |6 |5 |1 |18 |23.1 |78 |100.0 | | | | | | | | | | | | | | | | | | |78 |100.0 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |Descriptive Analysis Based on above survey question, the intention of descriptive analysis is to provide a clear understanding by use of graphical and numerical result to visualize unique trends of statistic data set. The survey question was engineered to...
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...("Us Department Of Commerce Bureau Of Economic Analysis", n,d.). Here is a list of resources that can be used to gather historical economic date as well as forecast data; Bureau of Economic Analysis, Bureau of Labor Statistics, U. S. Department of Labor, U. S. Census Bureau, National Association of Purchasing Managers, Survey Research Center, University of Michigan, Standard & Poor’s, S&P 500, and the Federal Reserve. In the report we will focus on the Bureau of Economic Analysis, quantitative and qualitative forecasting, and Bureau of labor statistics. Bureau of Economic Analysis Bureau of Economic Analysis is the federal agency responsible for measuring the United States economy. BEA is responsible for what is produced, what is earned and how it is spent ("What Is the U.S. Bureau of Economic Analysis?" 2012). BEA provides a variety of economic statistics concerning national, international, and regional economic activity. BEA also provides statistics decisions that are influenced by government officials, businesspeople, households, and individuals. The Bureau of Economic Analysis contains both quantitative and qualitative forecasting factors. The Bureau of Economic Analysis is responsible for measuring the economy as well as providing quality information. The Bureau of Labor Statistics The bureau of labor statistics is a Federal agency that keeps track of labor market activity. The bureau of labor statistics measures the activity associated with the labor...
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...References Agresti, Alan (1996).Introduction to categorical data analysis. NY: John Wiley and Sons. Ahmed, N. (1976); Development Agriculture of Bangladesh. Dhaka, Bangladesh Books of International Ltd. BANBEIS (1998); Bangladesh Education Statistics (At a glance), Bangladesh Bureau of Statistics. BBS, 2003: Report of the household expenditure survey 2000, Statistical Division, Ministry of Planning, Government of Bangladesh, Dhaka. BBS (2002); Statistical Year book of Bangladesh, 2001, Dhaka. Bunce, L. and R. Pomeroy. 2003. Socioeconomic Monitoring Guidelines for Coastal Managers in the Caribbean: SocMon Caribbean. GCRMN. Bunce, L., P. Townsley, R. Pomeroy, and R. Caribbean. GCRMN. Bunce, L., P. Townsley, R. Pomeroy, and R. Pollnac. 2000. Chandra KJ. Fish parasitological studies in Bangladesh: A Review. J Agric Rural Dev. 2006; 4: 9-18. Cochran, W.G. (1977); Sampling Techniques, 3rded. New Delhi: Wiley Eastern. Davis, James A. (1971). Elementary survey analysis. Des Raj (1971); Sampling Theory. Fox, J. 1984: Linear Statistical Models and Ravallion, M. and B. Sen 1996: When Method Matters: Monitoring Poverty in Bangladesh, Economic Development and Cultural Change, 44: 761-792 Gujarati, Damodar.N; Basic Econometrics. 4TH edition; Mcgraw-Hill. Gupta, S.C., Kapoor; Fundamental of Mathematical Statistics. New Delhi. Heyman, W. and R. Graham (eds.). 2000. The voice of the fishermen of Southern Belize, Toledo Institute for Development...
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