Identify statistical tools and methods

Assignment Help Operation Management
Reference no: EM131112121

In Module Seven, you will submit your selection of statistical tools and data analysis, which are critical elements III and IV. You will submit a 3- to 4-page paper and a spreadsheet that provides justification for the appropriate statistical tools needed to analyze the company's data, a hypothesis, the results of your analysis, any inferences from your hypothesis test, and a forecasting model that addresses the company's problem.

i. Specifically, the following critical elements must be addressed:

  1. A. Identify statistical tools and methods to collect data:
    1. B. Identify the appropriate family of statistical tools that you will use to perform your analysis. What are your statistical assumptions concerning the data that led you to selecting this family of tools? In other words, why did you select this family of tools for statistical analysis?
    2. C. Determine the category of the provided data in the given case study. Be sure to justify why the data fits into this category type. What is the relationship between the type of data and the tools?
    3. D. From the identified family of statistical tools, select the most appropriate tool(s) for analyzing the data provided in the given case study.
    4. Justify why you chose this tool to analyze the data. Be sure to include how this tool will help predict the use of the data in driving decisions.
    5. E. Describe the quantitative method that will best inform data-driven decisions. Be sure to include how this method will point out the relationships between the data. How will this method allow for the most reliable data?
  2. ii. Analyze data to determine the appropriate decision for the identified problem:
    1. A. Outline the process needed to utilize your statistical analysis to reach a decision regarding the given problem.
    2. B. Explain how following this process leads to valid, data-driven decisions. In other words, why is following your outlined process important?
    3. C. After analyzing the data sets in the case study, describe the reliability of the results. Be sure to include how you know whether the results are reliable.
    4. D. Illustrate a data-driven decision that addresses the given problem. How does your decision address the given problem? How will it result in operational improvement?

Guidelines for Submission: Your paper must be submitted as a 3- to 4-page Microsoft Word document and attached spreadsheet with double spacing, 12-point Times New Roman font, one-inch margins, and at least six sources cited in APA format.

This is part 2 of the paper. Please use the previous case studies to get this one done.

Reference no: EM131112121

Questions Cloud

Describe the free cash flow valuation model and explain : Describe the free cash flow valuation model and explain how it differs from the dividend valuation models. What is the appeal of this model?
Determining the probability of completion : How many days should we allow for this project to have approximately 99% probability of completion?
Describe compare and contrast the following common stock : Describe, compare, and contrast the following common stock dividend valuation models: (a) Zero-growth, (b) Constant-growth, and (c) Variable-growth.
Abc inventory process : Are there any companies that use the ABC Inventory process? If so, which and is it profitable?
Identify statistical tools and methods : Identify the appropriate family of statistical tools that you will use to perform your analysis. What are your statistical assumptions concerning the data that led you to selecting this family of tools? In other words, why did you select this fami..
Evaluate the company as a potential employer : Compare the difference between job satisfaction and organizational commitment. Determine which is more strongly related to performance for your selected company.
Find the area under the standard normal curve to the left : Find the area under the standard normal curve to the right of z = 1.55. Round to four decimal places. Find the standardized variable z if x has Mean 12 and standard deviation 10.
What is the behavioral finance challenge to this hypothesis : What does the efficient-market hypothesis (EMH) say about (a) Securities prices, (b) Their reaction to new information, and (c) Investor opportunities to profit? What is the behavioral finance challenge to this hypothesis?
Describe the events that occur in an efficient market : Describe the events that occur in an efficient market in response to new information that causes the expected return to exceed the required return. What happens to the market value?

Reviews

Write a Review

Operation Management Questions & Answers

  Providing deeper insights for business intelligence

Do you think that data mining is useful for providing deeper insights for business intelligence? Provide an example related to your own job environment. Also, what are the possible pitfalls of data mining?

  Which type of machine would be chosen

With high certainty of annual demand, which type of machine would be chosen if that was an important consideration? With low certainty, which type of machine would be chosen?

  The low fare airlines-often termed low-cost-carriers

Since deregulation, the low fare airlines, often termed low-cost-carriers, have captured significant market share from the more established network carriers in the U.S. and Europe. Discuss some economic aspects that have led to the success of low far..

  Best employment strategy-largely unsupervised position

Many companies are still working through the best employment strategy to use when hiring home shoring reps. consider the following examples of two people who are interested in becoming an e-rep. Given these two persons who show an interest in a homes..

  The most widely-used assessment method

Most of the diagnostic effort regarding dementia is spent on. A major reason why many people in nursing homes have few or no visitors is that. Which of these is not a common / normal emotional reaction while grieving? The most widely-used assessment ..

  North monroe street in quincy is fairly steady

During the day, the traffic on North Monroe Street in Quincy is fairly steady, but the traffic conditions can vary considerably from one hour to the next due to slow drivers and traffic accidents

  Operating a business in an ethical manner takes

Operating a business in an ethical manner takes time, effort and commitment. What are the key elements to a company having successful organizational ethics. What can we do as managers to encourage ethical behavior and to raise ethical standards in..

  What is the percentage failure rate

Penatech produces 3250 computer chips per day. Each day, a sample of 350 chips is tested for a period of 144 operating hours each. During the test, 1 failed at 15 hours, 4 failed at 40 hours, 3 at 72 hours, and 5 failed at 84 hours. What is the perce..

  Write a report on production warehouse move experience

Prepare an 8-10-page report in Word. This report should include a project history of your recent Trillo Apparel Company District 4 Production Warehouse Move experience over the last five weeks.

  Most effevtive in resolving the situation

Whenever you have a conflict with a co-worker, fellow student, or family member what strategy have you found to be most effevtive in resolving the situation? Why do you think this strategy is effective?

  The process of consolidation of fragmented industries

The process of consolidation of fragmented industries is referred to as:

  Creating the table of conditional profits

It normally relies on departmental forecast and preregistration resords to determine how many copies of a text are needed. Preregistration show 90 operations management students enrolled.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd