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QNT 351 Complete Class Flashcards

1
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QNT 351 Complete Class
QNT 351 Complete Class NO LAB
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QNT 351 Final Exam Guide
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1) The main purpose of descriptive statistics is to
A. summarize data in a useful and informative manner
B. make inferences about a population
C. determine if the data adequately represents the population
D. gather or collect data

2) The general process of gathering, organizing, summarizing, analyzing, and interpreting data is called
A. statistics
B. descriptive statistics
C. inferential statistics
D. levels of measurement
3) The performance of personal and business investments is measured as a percentage, return on investment. What type of variable is return on investment?
A. Qualitative
B. Continuous
C. Attribute
D. Discrete

4) What type of variable is the number of robberies reported in your city?
A. Attribute

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QNT 351 Final Exam Guide
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3
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QNT 351 Week 1 DQ 1
How would you define statistics? How is statistics used in business decision making?
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QNT 351 Week 1 DQ 2
What is the importance of statistics in business decision making? Describe a business situation where statistics was used in making a decision.
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5
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QNT 351 Week 1 DQ 3
How would you define dependent and independent variables? What is their significance in research? Explain with examples.
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6
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QNT 351 Week 1 DQ 4
How do you select measurement levels when developing a survey or data collection tool? Explain with examples.
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7
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QNT 351 Week 1 DQ 5
What are the four data measurement scales? Explain with examples.
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8
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QNT 351 Week 1 Individual Statistics in Business

Write a 300-word summary that addresses the following criteria:

• Define statistics.
• Identify different types and levels of statistics.
• Describe the role of statistics in business decision making.
. Provide at least three examples or problem situations in which statistics was used or could be used.
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9
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QNT 351 Week 2 DQ 1
Describe a business situation, other than what has already been selected by fellow students or selected from the team assignment, where mean and standard deviation can be used in decision making. Describe how calculation of mean and standard deviation can help in making a decision.
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10
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QNT 351 Week 2 DQ 2
Can mean, median, or mode be calculated from all statistical data? Explain why or why not. When is the mean the best measure of central tendency? When is the median the best measure of central tendency?
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11
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QNT 351 Week 2 DQ 3
Select four variables, other that what your fellow students have already selected, that could be measured by nominal, ordinal, interval, and ratio scale. Classify them by measurement scale and select descriptive statistics that can be used to summarize data. Use following table when posting your response:
Variable Level of Measurement Descriptive Stat and Justify Selection
Nominal
Ordinal
Interval
Ratio
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12
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QNT 351 Week 2 DQ 4
Why it is important to find the shape of data distribution before computing descriptive statistics? Do all variables follow normal distribution? Explain why or why not. Explain with examples.
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13
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QNT 351 Week 3 DQ 1
What are the differences between probability and coincidence? Can the probability be more than 1 or less than 0? Explain why or why not.
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14
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QNT 351 Week 5 Learning Team Analyzing and Interpreting Data
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(Attachment Contains PowerPoint Presentation and Papers)
Resource: Ballard Integrated Managed Services, Inc., Part 2.
Read the Ballard Integrated Managed Services, Inc., Part 2. Your team acts as a consultant group that analyzes and interprets this second set of data. The intent is to increase senior management’s understanding of the sources of employee dissatisfaction and to create a model that predicts employee resignation.

Combine your Week Two Learning Team assignment and Week Three findings with Week Five findings and make a recommendation to BIMS.
Use the statistical tables given in the appendices of the textbook and a statistical analysis application: a Microsoft® Excel® spreadsheet, Minitab® statistical software, or SPSS™ software.

Prepare a 1,050- to 1,750-word written report along with a 7- to 9-slide Microsoft® PowerPoint® presentation for the senior management team to present your findings (see Exhibit D for the data set of the second survey).

A

QNT 351 Week 5 Learning Team Analyzing and Interpreting Data
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15
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QNT 351 Week 2 Learning Team Data Collection
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(Attachments Includes Power Point Presentation And Paper)

Resources: Ballard Integrated Managed Services, Inc., Part 1
Review the Ballard Integrated Managed Services, Inc. (BIMS), Part 1 case study overview.

Prepare a 700- to 1,050-word written report along with a 5- to 7-slide Microsoft® PowerPoint® presentation for the senior management team to present your findings (see Exhibit D for the data set of the second survey).

Address the following:

  • Present the BIMS situation as an overview—problem, purpose, research questions, and hypotheses.
  • Describe the instrument used for data collection.
  • Identify types of data collected—quantitative, qualitative, or both—and how the data is collected.
  • Identify the level of measurement for each of the variables involved in the study.
  • Code the data if you have not done so. Describe how the data is coded and evaluate the procedure used.
  • Clean the data by eliminating the data input errors made.
  • Draw conclusions about appropriateness of the data to meet the purpose of the study.
A

QNT 351 Week 2 Learning Team Data Collection
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16
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QNT 351 Week 5 DQ 3
What type of data is best described using a Time Series? Think of an example from your work place or from your day to day experience.
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17
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QNT 351 Week 3 DQ 3
What is the role of probability concepts in business decision-making? Explain using a specific example.
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18
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QNT 351 Week 3 DQ 2
What are some conditions under which business decisions are made using subjective probability concepts? Provide at least two examples of subjective probability.
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19
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QNT 351 Week 3 DQ 4
Provide an example of a discrete data in your work situation that at least approximately obeys the four characteristics of the Binomial distribution.
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obeys the four characteristics of the Binomial distribution.
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20
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QNT 351 Week 3 DQ 5
What are the characteristics of standard normal distribution? The HR department of an organization collects data on employees’ age, salary, level of education, gender, and ethnicity. Which data do you think is more likely to follow normal distribution? Explain why.
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21
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QNT 351 Week 3 Learning Team Summarizing and Presenting Data
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Prepare a 1,050- to 1,750-word report of conclusions drawn from the data and make recommendations to the management.
Support recommendations by citing literature consistent with APA guidelines.
If using the Ballard Integrated Managed Services, Inc., (BIMS) case study overview:
Revise the report submitted in Week Two based on the feedback provided by the instructor in the Learning Team assignment, and insight gained by reading.

Analyze the data included in BIMS case study Part 1 by computing descriptive statistics in the form of tables, charts, measures of central tendency, and variability.

Prepare a 1,050- to 1,750-word report of conclusions drawn from the data and make recommendations to the management.

Support recommendations by citing literature consistent with APA guidelines.

A

QNT 351 Week 3 Learning Team Summarizing and Presenting Data
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Prepare a 1,050- to 1,750-word report of conclusions drawn from the data and make recommendations to the management.
Support recommendations by citing literature consistent with APA guidelines.
If using the Ballard Integrated Managed Services, Inc., (BIMS) case study overview:
Revise the report submitted in Week Two based on the feedback provided by the instructor

22
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QNT 351 Week 4 DQ 1
What are the five steps in the hypothesis testing procedure? Are the steps followed in sequence? Explain why or why not. How does the five-step procedure for hypothesis testing differ when comparing two groups using a t- or z-test? How is the process similar?
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23
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QNT 351 Week 4 DQ 2
Under what conditions would you use a t-test as opposed to a z-test? Can you use the t-table to determine the critical value of the z-test? Explain why. What are the differences between a one-tailed and a two-tailed test?
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24
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QNT 351 Week 4 DQ 4
Think of an example of the use of one sample hypothesis testing at your workplace. How will you state the hypothesis as a Null and the Alternative hypothesis?
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25
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QNT 351 Week 4 DQ 3
What are the key terms in a verbal hypothesis that signify whether you are conducting a one–tailed or two-tailed test? Explain with an example and also state the Null and the Alternative hypothesis for the example in symbolic form.
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26
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QNT 351 Week 5 DQ 2
In what way has the learning from this course helped you to effectively test hypotheses, draw conclusions, and provide recommendations to management? Consider what you have achieved in your research study conducted for this course.
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