Decision Making Project Part 2: Descriptive Statistics to Address Business Problem (Coursework Sample)
the same business problem/opportunity and research variable you wrote about in Week 3.
Do not actually collect any data; think hypothetically.
Develop a 1,050-word report in which you:
Identify which types of descriptive statistics might be best for summarizing the data, if you were to collect a sample.
Analyze which types of inferential statistics might be best for analyzing the data, if you were to collect a sample.
Analyze the role probability or trend analysis might play in helping address the business problem.
Analyze the role linear regression for trend analysis might play in helping address the business problem.
Analyze the role a time series might play in helping address the business problem.
Format the assignment consistent with APA guidelines.
Business Project Part IINameInstitutional AffiliationDate
Descriptive Statistics to Address Business Problem
The company will interpret the information that has been obtained by the use of different descriptive statistics. The descriptive statistics will help the company to identify the areas that need to be rectified.
Information that will be obtained from the interviews will be grouped in consideration of frequency. Different employees at the company will give different problems that they experience while at their places of work that hinder their performance. A graph will be used to show the frequency of the issue among the employees. If the frequency is bigger, then it means that the problem is greater and it is necessary for the company to begin handling the issue before they go to the others where the frequency is smaller.
The graph will contain issues such as the number of employees who complained about the use of outdated technological equipment as one of the factors that hinder production, low salaries, poor working conditions, work overload, long working hours and many factors related to working at a company.
Data that has been collected through observation will also be presented in a line graph. Given that the company will be observing the effectiveness of measures that have been put in place to curb the problems at the company, a line graph will be the most appropriate to observe the effectiveness of the strategies CITATION Aja06 \l 1033 (Ajai & Sanjaya, 2006). It will help the company to identify some of the measures that failed to produce the desired results after they have been put in place since the graph will be showing it.
A chart will also be used to present the overall information on the problem at the company. After using the above descriptive statistics to analyze the data that was obtained, then there are factors that will appear to be common among the various descriptive methods that have been used to present the data. The chart will be more narrowed, and it will give specific information.
Inferential Statistics to Address Business Problem
Given that the number of employees at the company is large, the sampling of the data collected will be one of the ways through which the company will be able to estimate data samples collected. For instance, if out of the 400 workers that were interviewed, 275 felt that the use of outdated technological equipment affected their output, then we would say that 68% of the workers at our company cited outdated technological eq
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