QNT 561 Entire Course New Flashcards
QNT 561 Entire Course NEW (With Final Guide)
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QNT 561 Final Exam Guide (New, 2018) NEW
QNT 561 Week 1 Assignment Statistics Concepts and Descriptive Measures Instructions Consumer Food NEW
QNT 561 Week 1 Assignment Statistics Concepts and Descriptive Measures Instructions Financial Data NEW
QNT 561 Week 2 Case Study MBA Schools in Asia Pacific NEW
QNT 561 Week 3 Assignment Expansion Strategy and Establishing a Re-Order Point NEW
QNT 561 Week 3 Case Study Super Fun Toys (2 Papers) NEW
QNT 561 Week 4 Case the Payment Time NEW
QNT 561 Week 5 Spicy Wings Case Study NEW
QNT 561 Week 5 Team One-Sample Hypothesis Testing (Election Results, SpeedX) NEW
QNT 561 Week 6 Signature Assignment (Consumer Food) NEW
QNT 561 Week 6 Signature Assignment (Hospital) NEW
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QNT 561 Final Exam Guide (New, 2019) NEW Check this A+ tutorial guideline at http://www.assignmentcloud.com/qnt-561-uop/qnt-561-final-exam-guide-new For more classes visit www.assignmentcloud.com
- James Desreumaux, VP of Human Resources of American First Banks (AFB), is reviewing the employee training programs of AFB banks. His staff randomly selected personnel files for 100 tellers in the Southeast Region and determined that their mean training time was 25 hours. Assume that the population standard deviation is 5 hours. The 95% confidence interval for the population mean of training times is
- If x is a binomial random variable with n=10 and p=0.8, the mean value of x is______
- According to the central limit theorem, for samples of size 64 drawn from a population with µ =800 and σ = 56, the standard deviation of the sampling distribution of sample means would equal ______
- Life tests performed on a sample of 13 batteries of a new model indicated: (1) an average life of75 months, and (2) a standard deviation of 5 months. Other battery models, produced by similar processes, have normally distributed life spans. The 98% confidence interval for the population mean life of the new model is _________
- A large national company is considering negotiating cellular phone rates for its employees Human Resource department would like to estimate the proportion of its employee population who own an Apple iPhone. A random sample of size 250 is taken and 40% of the sample own and iPhone.. The 95% confidence interval to estimate the population proportion is _______
- The number of bags arriving on the baggage claim conveyor belt in a 3 minute time period would best be modeled with the ________
- The weight of a USB flash drive is 30 grams and is normally distributed. Periodically, quanlity control inspectors at Dallas Flash Drives randomly select a sample of 17 USB flash drive. If the mean weight of the USB flash drives is too heavy or too light the machinery is shut down for adjustment; otherwise, the production process continues. The last sample showed a meanand standard deviation of 31.9 and 1.8 grams, respectively. Using a = 0.10, theappropriate decision is_______
- Elwin Osbourne, CIO at GFS, Inc., is studying employee use of GFS e-mail for non-business communications. He plans to use a 95% confidence interval estimate of the proportion of e-mail messages that are non-business; he will accept a 0.05 error. Previous studies indicate that approximately 30% of employee e-mail is not business related. Elwin should sample _______ e-mail messages
- The following frequency distribution was constructed for the wait times in the emergency room The frequency distribution reveals that the wait times in the emergency room are _______
- The number of cars arriving at a toll booth in five-minute intervals is Poisson distributed with a mean of 3 cars arriving in five-minute time intervals. The probability of 5 cars arriving over a five-minute interval is ________
- The number of finance majors within the School of Business is an example of _______
- According to the central limit theorem, for samples of size 64 drawn from a population with µ = 800 and σ = 56, the mean of the sampling distribution of sample means would equal _______
- Consider the following null and alternative hypotheses Ho: m ≤ 67 Ha: m > 67 These hypotheses ___________
- A market research team compiled the following discrete probability distribution on the numberof sodas the average adult drinks each day. In this distribution, x represents the number of sodas which an adult drinks
x
P(x)
0
0.30
1
0.10
2
0.50
3
0.10
The mean (average) value of x is ______________ - A researcher wants to determine the sample size necessary to adequately conduct a study to estimate the population mean to within 5 points. The range of population values is 80 and the researcher plans to use a 90% level of confidence. The sample size should be at least ______
- The mean life of a particular brand of light bulb is 1200 hours. If you know that at about 95% of this brand of bulbs will last between 1100 and 1300 hours, then what is the standard deviation of the light bulbs’ life?
- Completion time (from start to finish) of a building remodeling project is normally distributed with a mean of 200 work-days and a standard deviation of 10 work-days. To be 99% sure that we will not be late in completing the project, we should request a completion time of ______ work-day.
- A large industrial firm allows a discount on any invoice that is paid within 30 days. Of all invoices, 10% receive the discount. In a company audit, 10 invoices are sampled at random. The probability that fewer than 3 of the 10 sampled invoices receive the discount is approximately_______________.
- Suppose a population has a mean of 400 and a standard deviation of 24. If a random sample of size 144 is drawn from the population, the probability of drawing a sample with a mean less than 402 is _______
- If x is a binomial random variable with n=10 and p=0.8, what is the probability that x is equal to 4 ?
- The normal distribution is used to test about a population mean for large samples if the population standard deviation is known. “Large” is usually defined as _______
- Lucy Baker is analyzing demographic characteristics of two television programs, Americandol (population 1) and 60 Minutes (population 2). Previous studies indicate no difference in the ages of the two audiences (The mean age of each audience is the same.) Lucy plans to test this hypothesis using a random sample of 100 from each audience. Her null hypothesis is
- Maureen McIlvoy, owner and CEO of a mail order business for wind surfing equipment and supplies, is reviewing the order filling operations at her warehouses. Her goal is 100% of orders shipped within 24 hours. In previous years, neither warehouse has achieved the goal, but the East Coast Warehouse has consistently out-performed the West Coast Warehouse. Her staff randomly selected 200 orders from the West Coast Warehouse (population 1) and 400 orders from the East Coast Warehouse (population 2), and reports that 190 of the West Coast Orders were shipped within 24 hours, and the East Coast Warehouse shipped 372 orders within 24 hours. Maureen’s alternate hypothesis is _______
- Ophelia O’Brien, VP of Consumer Credit of American First Banks (AFB), monitors the default rate on personal loans at the AFB member banks. One of her standards is “no more than 5% of personal loans should be in default.” On each Friday, the default rate is calculated for a sample of 500 personal loans. Last Friday’s sample contained 30 defaulted loans. Ophelia’s null hypothesis is _______.
- Catherine Chao, Director of Marketing Research, is evaluating consumer acceptance of a new toothpaste package. Her staff reports that 17% of a random sample of 200 households prefers the new package to all other package designs. If Catherine concludes that 17% of all households prefer the new package, she is using _______.
- The empirical rule says that approximately what percentage of the values would be within 2 standard deviations of the mean in a bell shaped set of data
- Medical Wonders is a specialized interior design company focused on healing artwork. The CEO, Kathleen Kelledy claims that artwork has healing effects for patients staying in a hospital, as measured by reduced length of stay. Her current client is a children’s cancer hospital. Kathleen is interested in determining the effect of three different pieces of healing artwork on children. She chooses three paintings (a horse photo, a bright abstract, and a muted beach scene) and randomly assigns six hospital rooms to each painting. Kathleen’s null hypothesis is _____________
- The expected (mean) life of a particular type of light bulb is 1,000 hours with a standard deviation of 50 hours. The life of this bulb is normally distributed. What is the probability that a randomly selected bulb would last fewer than 940 hours
- The mean life of a particular brand of light bulb is 1200 hours and the standard deviation is 75 hours. Tests show that the life of the bulb is approximately normally distributed. It can be concluded that approximately 68% of the bulbs will last between _______.
- A market researcher is interested in determining the average income for families in San Mateo County, California. To accomplish this, she takes a random sample of 300 families from the county and uses the data gathered from them to estimate the average income for families of the entire county. This process is an example of _______.
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QNT 561 Week 1 Assignment Statistics Concepts and Descriptive Measures Instructions (Financial Data) NEW
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Purpose of Assignment
The purpose of this assignment to orient students to the key concepts in statistics. This assignment will introduce students to the language of statistics. Students will also get a chance to warm-up on evaluating some basic descriptive statistics using Excel® prior to the course start.
Assignment Steps
This assignment has an Excel dataset spreadsheet attached.
Resource: Microsoft Excel, Statistics Concepts and Descriptive Measures Data Set
Download the Statistics Concepts and Descriptive Measures Data Set.
Choose:
• Financial
Answer each of the following in a total of 90 words:
• For each column, identify whether the data is qualitative or quantitative.
• Identify the level of measurement for the data in each column.
• For each column containing quantitative data:
• Evaluate the mean and median
• Interpret the mean and median in plain non-technical terms
• Use the Excel =AVERAGE function to find the mean
• Use the Excel =MEDIAN function to find the median
• For each column containing quantitative data:
• Evaluate the standard deviation and range
• Interpret the standard deviation and range in plain non-technical terms
• Use the Excel =STDEV.S function to find the standard deviation
• For range (maximum value minus the minimum value), find the maximum value using the Excel =MAX function and find the minimum value using the Excel’s =MIN function
Company Type Total Revenues
AFLAC 6 7251
Albertson’s 4 14690
Allstate 6 20106
Amerada Hess 7 8340
American General 6 3362
American Stores 4 19139
Amoco 7 36287
Arco Chemical 2 3995
Ashland 7 14319
Atlantic Richfield 7 19272
Bausch & Lomb 5 1916
Baxter International 5 6138
Bristol-Myers Squibb 5 16701
Burlington Coat 1 1777
Central Maine Power 3 954
Chevron 7 41950
CIGNA 6 14935
Cinergy 3 4353
Dayton Hudson 1 27757
Dillard’s 1 6817
Dominion Resources 3 7678
Dow Chemical 2 20018
DPL 3 1356
E. I. DuPont DeNemours 2 46653
Eastman Chemical 2 4678
Edison International 3 9235
Engelhard 2 3631
Entergy 3 9562
Equitable 6 9666
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QNT 561 Week 1 Assignment Statistics Concepts and Descriptive Measures Instructions (Consumer Food) NEW
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Purpose of Assignment
The purpose of this assignment to orient students to the key concepts in statistics. This assignment will introduce students to the language of statistics. Students will also get a chance to warm-up on evaluating some basic descriptive statistics using Excel® prior to the course start.
Assignment Steps
This assignment has an Excel dataset spreadsheet attached.
Resource: Microsoft Excel, Statistics Concepts and Descriptive Measures Data Set
Download the Statistics Concepts and Descriptive Measures Data Set.
Choose:
• Financial
Answer each of the following in a total of 90 words:
• For each column, identify whether the data is qualitative or quantitative.
• Identify the level of measurement for the data in each column.
• For each column containing quantitative data:
• Evaluate the mean and median
• Interpret the mean and median in plain non-technical terms
• Use the Excel =AVERAGE function to find the mean
• Use the Excel =MEDIAN function to find the median
• For each column containing quantitative data:
• Evaluate the standard deviation and range
• Interpret the standard deviation and range in plain non-technical terms
• Use the Excel =STDEV.S function to find the standard deviation
• For range (maximum value minus the minimum value), find the maximum value using the Excel =MAX function and find the minimum value using the Excel’s =MIN function
Annual Food Spending ($) Annual Household Income ($) Non mortgage household debt ($)
8909 56697 23180
5684 35945 7052
10706 52687 16149
14112 74041 21839
13855 63182 18866
15619 79064 21899
2694 25981 8774
9127 57424 15766
13514 72045 27685
6314 38046 8545
7622 52408 28057
4322 41405 6998
3805 29684 4806
6674 49246 13592
7347 41491 4088
2911 26703 15876
8026 48753 16714
8567 55555 16783
10345 71483 21407
8694 50980 19114
8821 46403 7817
8678 51927 14415
14331 84769 17295
9619 59062 16687
9286 57952 14161
8206 58355 19538
16408 81694 15187
12757 69522 14651
17740 96132 0
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QNT 561 Week 2 Case Study MBA Schools in Asia Pacific NEW
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Review the Case Study: MBA Schools in Asia-Pacific and the Case Study: MBA Schools in Asia-Pacific data set.
Prepare a 1,050-word managerial report for your boss.
Use the following questions for guidelines and directions on what to include in the report:
1. What is the type of data (Quantitative or Qualitative) for each of the columns (variables) in the dataset? If quantitative, is the data discrete or continuous? Neatly summarize your response in a table for all the columns (variables).
2. Using Excel, find the mean, median, standard deviation, minimum, maximum, and the three quartiles for each of the quantitative variables identified in part 1 above. Neatly summarize in a table on this document. Comment on what you observe.
3. What are the minimum and maximum full-time enrollments? Which schools have the minimum and maximum full-time enrollments?
4. What is the average number of students per faculty member? Is this low or high? What does this mean to prospective applicants who are interested in pursuing an MBA in one of the leading international business schools?
5. What are the mean, median, and modal ages? What does this mean to prospective applicants?
6. What is the mean percentage of foreign students? How many and which schools have 1% and 0% foreign students? Which schools have highest percentage of foreign students? Please state these percentages.
7. What percentage of schools require the GMAT test?
8. What percentage of schools require English tests such as Test of English as a Foreign Language (TOEFL)?
9. What percentage of schools require work experience? From this percentage, does this appear to be a significant factor in gaining admissions?
10. What are the mean and median starting salaries? Which schools have the minimum and maximum starting salaries? How much are these minimum and maximum salaries?
11. What are the mean tuition for foreign students and for local students? Does there appear to be a significant difference? What is the difference between the two means?
12. How many schools require work experience and how many of them don’t? What is the mean starting salary for schools requiring work experience? What is the mean starting salary for schools requiring no work experience?
13. How many schools require English tests and how many don’t? What is the mean starting salary for schools requiring English tests? What is the mean starting salary for schools requiring no English tests?
14. Does there appear to be a correlation between age and starting salaries? Comment on the strength and the direction of the correlation.
15. Comment on the skewness for the data on starting salaries:
1. Plot a histogram and determine the skewness.
2. Find the skewness coefficient.
3. Find the mean, median, and mode for starting salaries and compare the three measures to determine skewness.
16. Finally, use Empirical Rule on the starting salaries and determine whether the salaries follow the Empirical Rule.
The pursuit of a higher education degree in business is now international. A survey shows more and more Asians choose the master of business administration (MBA) degree route to corporate success. As a result, the number of applicants for MBA courses at Asia-Pacific schools continues to increase.
Across the region, thousands of Asians show an increasing willingness to temporarily shelve their careers and spend two years in pursuit of a theoretical business qualification. Courses in these schools are notoriously tough and include statistics, economics, banking, marketing, behavioral sciences, labor relations, decision making, strategic thinking, business law, and more.
After your MBA, you get a job at Bloomberg in its media division, Bloomberg Business. Your division publishes reviews and rankings for business schools in the US and internationally. Because of your strong analytical education from University of Phoenix, your boss assigns you to work on preparing an analysis for data gathered for leading business schools in the Asia-Pacific. The data set in the Excel® file shows some of the characteristics of the leading Asia-Pacific business schools.
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QNT 561 Week 3 Assignment Expansion Strategy and Establishing a Re-Order Point NEW
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Learning team paper
Purpose of Assignment
This assignment has two cases. The first case is on expansion strategy. Managers constantly have to make decisions under uncertainty. This assignment gives students an opportunity to use the mean and standard deviation of probability distributions to make a decision on expansion strategy. The second case is on determining at which point a manager should re-order a printer so he or she doesn’t run out-of-stock. The second case uses normal distribution. The first case demonstrates application of statistics in finance and the second case demonstrates application of statistics in operations management.
Assignment Steps
Resources: Microsoft Excel®, Bell Computer Company Forecasts data set, Case Study Scenarios
Write a 1,050-word report based on the Bell Computer Company Forecasts data set and Case Study Scenarios.
Include answers to the following:
Case 1: Bell Computer Company
Compute the expected value for the profit associated with the two expansion alternatives. Which decision is preferred for the objective of maximizing the expected profit?
Compute the variation for the profit associated with the two expansion alternatives. Which decision is preferred for the objective of minimizing the risk or uncertainty?
Case 2: Kyle Bits and Bytes
What should be the re-order point? How many HP laser printers should he have in stock when he re-orders from the manufacturer?
Format your assignment consistent with APA format.
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QNT 561 Week 3 Case Study Super Fun Toys (2 Papers) NEW
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Individual Paper:
Purpose of Assignment
The purpose of this assignment is for students to learn how to make managerial decisions using a case study on Normal Distribution. This case uses concepts from Weeks 1 and 2. It provides students an opportunity to perform sensitivity analysis and make a decision while providing their own rationale. This assignment also shows students that statistics is rarely used by itself. It shows tight integration of statistics with product management.
Assignment Steps
Develop a 1,050-word case study analysis including the following:
• Use the sales forecaster’s prediction to describe a normal probability distribution that can be used to approximate the demand distribution.
• Sketch the distribution and show its mean and standard deviation. Hint: To find the standard deviation, think Empirical Rule covered in Week 1.
• Compute the probability of a stock-out for the order quantities suggested by members of the management team (i.e. 15,000; 18,000; 24,000; 28,000).
• Compute the projected profit for the order quantities suggested by the management team under three scenarios: pessimistic in which sales are 10,000 units, most likely case in which sales are 20,000 units, and optimistic in which sales are 30,000 units.
One of SuperFun’s managers felt the profit potential was so great the order quantity should have a 70% chance of meeting demand and only a 30% chance of any stock- outs. What quantity would be ordered under this policy, and what is the projected profit under the three sales scenarios?
SuperFun Toys, Inc., sells a variety of new and innovative children’s toys. Management learned the pre-holiday season is the best time to introduce a new toy because many families use this time to look for new ideas for December holiday gifts. When SuperFun discovers a new toy with good market potential, it chooses an October market entry date. To get toys in its stores by October, SuperFun places one-time orders with its manufacturers in June or July of each year.
Demand for children’s toys can be highly volatile. If a new toy catches on, a sense of shortage in the marketplace often increases the demand to high levels and large profits can be realized. However, new toys can also flop, leaving SuperFun stuck with high levels of inventory that must be sold at reduced prices. The most important question the company faces is deciding how many units of a new toy should be purchased to meet anticipated sales demand. If too few are purchased, sales will be lost; if too many are purchased, profits will be reduced because of low prices realized in clearance sales.
This is where SuperFun feels that you, as an MBA student, can bring value.
For the coming season, SuperFun plans to introduce a new product called Weather Teddy. This variation of a talking teddy bear is made by a company in Taiwan. When a child presses Teddy’s hand, the bear begins to talk. A built-in barometer selects one of five responses predicting the weather conditions. The responses range from “It looks to be a very nice day! Have fun” to “I think it may rain today. Don’t forget your umbrella.” Tests with the product show even though it is not a perfect weather predictor, its predictions are surprisingly good. Several of SuperFun’s managers claimed Teddy gave predictions of the weather that were as good as many local television weather forecasters.
As with other products, SuperFun faces the decision of how many Weather Teddy units to order for the coming holiday season. Members of the management team suggested order quantities of 15,000, 18,000, 24,000, or 28,000 units. The wide range of order quantities suggested indicates considerable disagreement concerning the market potential.
Having a sound background in statistics and business, you are required to perform statistical analysis and the profit projections which is typically done by the product management group. You want to provide management with an analysis of the stock-out probabilities for various order quantities, an estimate of the profit potential, and to help make an order quantity recommendation.
SuperFun expects to sell Weather Teddy for $24 based on a cost of $16 per unit. If inventory remains after the holiday season, SuperFun will sell all surplus inventories for $5 per unit. After reviewing the sales history of similar products, SuperFun’s senior sales forecaster predicted an expected demand of 20,000 units with a 95% probability that demand would be between 10,000 units and 30,000 units.
One of SuperFun’s managers felt the profit potential was so great the order quantity should have a 70% chance of meeting demand and only a 30% chance of any stock- outs. What quantity would be ordered under this policy, and what is the projected profit under the three sales scenarios?
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QNT 561 Week 4 Case the Payment Time NEW Check this A+ tutorial guideline at http://www.assignmentcloud.com/qnt-561-uop/qnt-561-week-4-case-the-payment-time-new For more classes visit www.assignmentcloud.com
Individual Paper
Purpose of Assignment
The purpose of the assignment is to develop students’ abilities in using datasets to apply the concepts of sampling distributions and confidence intervals to make management decisions.
Assignment Steps
Resources: Microsoft Excel®, The Payment Time Case Study, The Payment Time Case Data Set
Review the Payment Time Case Study and Data Set.
Develop a 700-word report including the following calculations and using the information to determine whether the new billing system has reduced the mean bill payment time:
• Assuming the standard deviation of the payment times for all payments is 4.2 days, construct a 95% confidence interval estimate to determine whether the new billing system was effective. State the interpretation of 95% confidence interval and state whether or not the billing system was effective.
• Using the 95% confidence interval, can we be 95% confident that µ ≤ 19.5 days?
• Using the 99% confidence interval, can we be 99% confident that µ ≤ 19.5 days?
• If the population mean payment time is 19.5 days, what is the probability of observing a sample mean payment time of 65 invoices less than or equal to 18.1077 days?
Format your assignment consistent with APA format.
Please plagiarism free, she is acting to show how we got to the numbers we got so show work. Must have excel worksheet also.
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QNT 561 Week 5 Spicy Wings Case Study NEW
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Individual Paper
• Spicy Wings Case
Purpose of Assignment
The purpose of this assignment is to develop students’ abilities to combine the knowledge of descriptive statistics covered in Weeks 1 and 2 and one-sample hypothesis testing to make managerial decisions. In this assignment, students will develop the ability to use statistical analysis and verify whether or not a claim is valid before advertising it.
Assignment Steps
Resources: Microsoft Excel®, Spicy Wings Case Study, Spicy Wings Data Set
Develop a 700-word statistical analysis.
Use descriptive statistics to compute a measure of performance John can use to analyze his delivery performance. Find the following for your measures:
• Mean
• Standard deviation
• Sample size
• Five-number summary on the total time
Conduct a formal hypothesis testing to help John decide whether to offer the delivery guarantee or not.
Estimate the probability of an order taking longer than 30 minutes.
Make a recommendation in a short narrative including the following:
• Based on the sampled data, should John offer the guarantee?
• What percent of the Saturday deliveries would result in a customer receiving a free order?
• What recommendations might help John improve his Saturday delivery times?
Format your assignment consistent with APA format.
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QNT 561 Week 5 Team One-Sample Hypothesis Testing (Election Results, SpeedX) NEW
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Learning team Paper
Part A : One-Sample Hypothesis Testing Cases
Purpose of Assignment
The purpose of this assignment is to develop students’ abilities to combine the knowledge of descriptive statistics covered in Weeks 1 and 2 and one-sample hypothesis testing to make managerial decisions. In this assignment, students will learn how statistical analysis is used in predicting an election winner in the first case. In the second case, students will conduct a hypothesis test to decide whether or not a shipping plan will be profitable.
Assignment Steps
Resources: Microsoft Excel®, Case Study Scenarios, SpeedX Payment Times
Develop a 700- to 1,050-word statistical analysis based on the Case Study Scenarios and SpeedX Payment Times.
Include answers to the following:
Case 1: Election Results
• Use 0.10 as the significance level (α).
• Conduct a one-sample hypothesis test to determine if the networks should announce at 8:01 P.M. the Republican candidate George W. Bush will win the state.
Case 2: SpeedX
• Use 0.10 and the significance level (α).
• Conduct a one-sample hypothesis test and determine if you can convince the CFO to conclude the plan will be profitable.
Format your assignment consistent with APA format.
Case Study #1 – Election Results
When an election for political office takes place, the television networks cancel regular programming and instead, provide election coverage. When the ballots are counted, the results are reported. However, for important offices such as president or senator in large states, the networks actively compete to see which will be the first to predict a winner. This is done through exit polls, wherein a random sample of voters who exit the polling booth is asked for whom they voted. From the data, the sample proportion of voters supporting the candidates is computed. Hypothesis testing is applied to determine whether there is enough evidence to infer the leading candidate will garner enough votes to win.
Suppose in the exit poll from the state of Florida during the 2000 year elections, the pollsters recorded only the votes of the two candidates who had any chance of winning: Democrat Al Gore and Republican George W. Bush. In a sample of 765 voters, the number of votes cast for Al Gore was 358 and the number of votes cast for George W. Bush was 407. The network predicts the candidate as a winner if he wins more than 50% of the votes. The polls close at 8:00 P.M. Based on the sample results, conduct a one-sample hypothesis test to determine if the networks should announce at 8:01 P.M. the Republican candidate George W. Bush will win the state. Use 0.10 as the significance level (α).
Case Study #2 – SpeedX
SpeedX, a large courier company, sends invoices to customers requesting payment within 30 days. The bill lists an address, and customers are expected to use their own envelopes to return their payments. Currently, the mean and standard deviation of the amount of time taken to pay bills are 24 days and 6 days, respectively. The chief financial officer (CFO) believes including a stamped self-addressed envelope would decrease the amount of time. She calculates the improved cash flow from a 2-day decrease in the payment period would pay for the costs of the envelopes and stamps. You have an MBA from the University of Phoenix, and work for SpeedX as a business analyst. One of your job duties is to run analytics and present the results to the senior management for critical decision-making. You see this as an opportunity to utilize some of the skills you gained in the Statistics course. Because of your strong understanding and background in inferential statistics, you decide to take up this important assignment. You have learned any analysis in inferential statistics starts with sampling. To test the CFO’s belief, you decide to randomly select 220 customers and propose to include a stamped self-addressed envelope with their invoices. The CFO accepts your proposal and allows you to run a pilot study. You then record the numbers of days until payment is received. Using your statistical expertise and skills you gained in the class, conduct a one-sample hypothesis test and determine if you can convince the CFO to conclude that the plan will be profitable. Use 0.10 and the significance level (α).
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QNT 561 Week 6 Signature Assignment (Hospital) NEW
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Individual Paper Signature Assignment
About Your Signature Assignment
This signature assignment is designed to align with specific program student learning outcome(s) in your program. Program Student Learning Outcomes are broad
statements that describe what students should know and be able to do upon completion of their degree. The signature assignments might be graded with an automated
rubric that allows the University to collect data that can be aggregated across a location or college/school and used for program improvements.
Purpose of Assignment
The purpose of this assignment is for students to synthesize the concepts learned throughout the course. This assignment will provide students an opportunity to build
critical thinking skills, develop businesses and organizations, and solve problems requiring data by compiling all pertinent information into one report.
Assignment Steps
Resources: Microsoft Excel®, Signature Assignment Databases, Signature Assignment Options, Part 3: Inferential Statistics
Scenario: Upon successful completion of the MBA program, say you work in the analytics department for a consulting company. Your assignment is to analyze one of the
following databases:
Manufacturing
Hospital
Consumer Food
Financial
Select one of the databases based on the information in the Signature Assignment Options.
Provide a 1,600-word detailed, statistical report including the following:
Explain the context of the case
Provide a research foundation for the topic
Present graphs
Explain outliers
Prepare calculations
Conduct hypotheses tests
Discuss inferences you have made from the results
This assignment is broken down into four parts:
Part 1 – Preliminary Analysis
Part 2 – Examination of Descriptive Statistics
Part 3 – Examination of Inferential Statistics
Part 4 – Conclusion/Recommendations
Part 1 – Preliminary Analysis (3-4 paragraphs)
Generally, as a statistics consultant, you will be given a problem and data. At times, you may have to gather additional data. For this assignment, assume all the data
is already gathered for you.
State the objective:
What are the questions you are trying to address?
Describe the population in the study clearly and in sufficient detail:
What is the sample?
Discuss the types of data and variables:
Are the data quantitative or qualitative?
What are levels of measurement for the data?
Part 2 – Descriptive Statistics (3-4 paragraphs)
Examine the given data.
Present the descriptive statistics (mean, median, mode, range, standard deviation, variance, CV, and five-number summary).
Identify any outliers in the data.
Present any graphs or charts you think are appropriate for the data.
Note: Ideally, we want to assess the conditions of normality too. However, for the purpose of this exercise, assume data is drawn from normal populations.
Part 3 – Inferential Statistics (2-3 paragraphs)
Use the Part 3: Inferential Statistics document.
Create (formulate) hypotheses
Run formal hypothesis tests
Make decisions. Your decisions should be stated in non-technical terms.
Hint: A final conclusion saying “reject the null hypothesis” by itself without explanation is basically worthless to those who hired you. Similarly, stating the
conclusion is false or rejected is not sufficient.
Part 4 – Conclusion and Recommendations (1-2 paragraphs)
Include the following:
What are your conclusions?
What do you infer from the statistical analysis?
State the interpretations in non-technical terms. What information might lead to a different conclusion?
Are there any variables missing?
What additional information would be valuable to help draw a more certain conclusion?
Format your assignment consistent with APA format.
Check this A+ tutorial guideline at
http://www.assignmentcloud.com/qnt-561-uop/qnt-561-week-6-signature-assignment-hospital-new
For more classes visit
www.assignmentcloud.com
QNT 561 Week 6 Signature Assignment (Consumer Food) NEW
Check this A+ tutorial guideline at
http://www.assignmentcloud.com/qnt-561-uop/qnt-561-week-6-signature-assignment-consumer-food-new
For more classes visit
www.assignmentcloud.com
Individual Paper Signature Assignment
About Your Signature Assignment
This signature assignment is designed to align with specific program student learning outcome(s) in your program. Program Student Learning Outcomes are broad
statements that describe what students should know and be able to do upon completion of their degree. The signature assignments might be graded with an automated
rubric that allows the University to collect data that can be aggregated across a location or college/school and used for program improvements.
Purpose of Assignment
The purpose of this assignment is for students to synthesize the concepts learned throughout the course. This assignment will provide students an opportunity to build
critical thinking skills, develop businesses and organizations, and solve problems requiring data by compiling all pertinent information into one report.
Assignment Steps
Resources: Microsoft Excel®, Signature Assignment Databases, Signature Assignment Options, Part 3: Inferential Statistics
Scenario: Upon successful completion of the MBA program, say you work in the analytics department for a consulting company. Your assignment is to analyze one of the
following databases:
Manufacturing
Hospital
Consumer Food
Financial
Select one of the databases based on the information in the Signature Assignment Options.
Provide a 1,600-word detailed, statistical report including the following:
Explain the context of the case
Provide a research foundation for the topic
Present graphs
Explain outliers
Prepare calculations
Conduct hypotheses tests
Discuss inferences you have made from the results
This assignment is broken down into four parts:
Part 1 – Preliminary Analysis
Part 2 – Examination of Descriptive Statistics
Part 3 – Examination of Inferential Statistics
Part 4 – Conclusion/Recommendations
Part 1 – Preliminary Analysis (3-4 paragraphs)
Generally, as a statistics consultant, you will be given a problem and data. At times, you may have to gather additional data. For this assignment, assume all the data
is already gathered for you.
State the objective:
What are the questions you are trying to address?
Describe the population in the study clearly and in sufficient detail:
What is the sample?
Discuss the types of data and variables:
Are the data quantitative or qualitative?
What are levels of measurement for the data?
Part 2 – Descriptive Statistics (3-4 paragraphs)
Examine the given data.
Present the descriptive statistics (mean, median, mode, range, standard deviation, variance, CV, and five-number summary).
Identify any outliers in the data.
Present any graphs or charts you think are appropriate for the data.
Note: Ideally, we want to assess the conditions of normality too. However, for the purpose of this exercise, assume data is drawn from normal populations.
Part 3 – Inferential Statistics (2-3 paragraphs)
Use the Part 3: Inferential Statistics document.
Create (formulate) hypotheses
Run formal hypothesis tests
Make decisions. Your decisions should be stated in non-technical terms.
Hint: A final conclusion saying “reject the null hypothesis” by itself without explanation is basically worthless to those who hired you. Similarly, stating the
conclusion is false or rejected is not sufficient.
Part 4 – Conclusion and Recommendations (1-2 paragraphs)
Include the following:
What are your conclusions?
What do you infer from the statistical analysis?
State the interpretations in non-technical terms. What information might lead to a different conclusion?
Are there any variables missing?
What additional information would be valuable to help draw a more certain conclusion?
Format your assignment consistent with APA format.
Check this A+ tutorial guideline at
http://www.assignmentcloud.com/qnt-561-uop/qnt-561-week-6-signature-assignment-consumer-food-new
For more classes visit
www.assignmentcloud.com
