Statistics for Decision Making

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Statistics for Decision Making

Purpose of Assignment

This assignment provides students with practice in understanding how to develop a hypothesis and interpret its findings. Students will learn to implement the use of these statistical measures for better business decision-making.

Assignment Steps

Resources: Week 4 Videos; Week 4 Readings; Statistics Lab

Tutorial help on Excel® and Word functions can be found on the Microsoft® Office website. There are also additional tutorials via the web offering support for Office products.

Use the same business problem/opportunity and research variable you wrote about in Week 3.

Note: 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 your assignment consistent with APA guidelines.

I have enclosed the Initial Paper to assist in this second Part. Please see attached.