Unit 3 IP AMDM 2023 Business & Finance
2023 Type Individual Project Unit Use Common Statistical Tests to Draw Conclusions From Data Due Date Wed 4 25 18 Deliverable
Type: Individual Project
Unit: Use Common Statistical Tests to Draw Conclusions From Data
Due Date: Wed, 4/25/18
Deliverable Length: 1,500–2,100 words
Based upon the input from Units 1 and 2, you have just received your next assignment that will contribute to your next decision. For the outdoor sporting goods client, based upon your prior decision as to either expand to the next market or retain your current position, justify your decision further utilizing the Chi-Square Distribution tool. One key criterion point: You do not have adequate data to formulate a full Chi-Square for the outdoor sporting goods client. However, you do have sufficient data to initiate this process. You are charged to demonstrate the initial steps of a nonparametric test that are qualitative. Utilizing the null and alternative hypothesis, further present your justifications for your selection and what it means beyond the mere formulas. What is this going to tell the Board of Directors and contribute to the decision-making process?
The following information may be helpful in understanding Chi-Square and hypothesis testing:
Chi-Square and Hypothesis Testing
Please review this helpful video. The presenter uses the “flip of the coin” and the “role of the die.” These are examples and analogies used in the CTU resources.
The following are assumptions you might make in this assignment that might make the assignment more helpful and make the responses more uniform:
- Continue to utilize the Big D scenario. Work under the assumption that the sample is based upon two different proposed product lines.
- Additionally, work under the assumption that the same demographics are utilized for each product.
Bozeman Science. (2011, November 13). Chi-squared test [Video file]. Retrieved from https://www.youtube.com/watch?v=WXPBoFDqNVk
Please submit your assignment.
We grade Discussion Boards and Individual Projects using three project criteria: Task Requirements, Demonstration and Application of Knowledge, and Academic Writing and Format. We score each project criterion using four performance values: Unsatisfactory, Developing, Effective, and Proficient. Please see the following tables for the details.
WidgeCorp became the market leader in snack foods after acquiring a rival company, Company W. Their management style and business decision-making differed. Employees at WidgeCorp collected relevant data and through statistical analysis used this information to draw conclusions and make appropriate recommendations. Company W tended to rely on the experience and judgment of its managers. For the time being, both companies are being managed separately, but within the next twelve months they will merge all management, processes, and accounting. You work for Company W and are a little nervous about this new way of working, but realize that you need to be able to present issues and recommendations with statistical verification to the WidgeCorp executives. You will also introduce and employ statistical analysis to the senior management of Company W’s various departments such as Marketing, Sales, and Production. Part of your job will be to educate Company W as well.
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