he 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.
Resources: Microsoft Excel®,Signature Assignment Databases, Signature Assignment Options,Part 3: Inferential Statistics
Scenario: Upon successful completion of the MBA program, imagine you work in the analytics department for a consulting company. Your assignment is to analyze one of the following databases:
- Consumer Food
Select one of the databases based on the information in the Signature Assignment Options.
Provide a 1,300-word detailed, four part, statistical report with the following sections:
- Part 1 – Preliminary Analysis
- Part 2 – Examination of Descriptive Statistics
- Part 3 – Examination of Inferential Statistics
- Part 4 – Conclusion/Recommendations
Part 1 – Preliminary Analysis
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:
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
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
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
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?