MATH534 2022 January Discussions Latest (Full)

MATH534 Applied Managerial Statistics

Week 1 Discussion

Study and Sample Design

A company makes men's button-up dress shirts and is considering changes to its design. How might the company go about finding a good sample of individuals? These decisions would include method of sampling, location of sampling, population to consider, and number in sample, in addition to any other considerations.

 

MATH534 Applied Managerial Statistics

Week 2 Discussion

Changing Probabilities into Conditional Probabilities

Describe a situation where you see probabilities or might see probabilities. Then present this probability as a conditional probability. In response, other students can make assumptions about the conditional probability table that could accompany such a situation and pose a question for a specific probability. Finally, a third student can show the work of solving the probability. Your first post should start a new probability discussion only!

 

MATH534 Applied Managerial Statistics

Week 3 Discussion

Determining a Normal Distribution

When trying to determine probabilities, one must first assess whether the variable would have a normal distribution. Using the tools from this course, what are some methods that could be used to determine whether a variable has a normal distribution?

 

MATH534 Applied Managerial Statistics

Week 4 Discussion

Confidence Intervals in Business

Consider when businesses might use confidence intervals to estimate values, such as in sales projections, marketing results, and so forth. Describe a business decision that could be helped with confidence intervals. Be specific! Then create a problem with numbers from which another student could calculate a confidence interval and make a decision.

 

MATH534 Applied Managerial Statistics

Week 5 Discussion

Hypothesis Testing

For this discussion, create and post a 1-2 minute video describing a real-world example of when a hypothesis test could be used. Your video should also include a numerical example for another student to work through in their response. The example can use real data or data that you make up, such as values for the mean, standard deviation, and sample size. Be sure to note if the standard deviation is from the population or the sample.  In your responses to other students, show the work and describe the steps you uses to solve that hypothesis example. Video technology does not need to be used in the replies, but you are always welcome to use it!  For the videos, you can use recorded PowerPoints, MP4 files, or any video technology where the file can be loaded into the discussion.

 

MATH534 Applied Managerial Statistics

Week 6 Discussion

Regression Analysis

Suppose you are given data from a survey showing the IQ of each person interviewed and the IQ of his or her mother. That is all the information that you have. Your boss has asked you to put together a report showing the relationship between these two variables. What could you present, and why?

 

MATH534 Applied Managerial Statistics

Week 7 Discussion

Predictive Analytics

Predictive analytics in business is an important application of multiple regression analysis. Generally speaking, what is meant by predictive analytics? As a business owner, how could you use regression analysis and predictive analytics to increase your company's sales?

 

MATH534 Applied Managerial Statistics

Week 8 Discussion

Read the Decision Dilemma found on pages 477-487 in your text. Consider the questions asked at the end of that discussion in light of the ethical considerations presented on page 498. What variables might be used? What variables should not be used? To what degree can someone depend on the results of the regression analysis? Why?

Alternative question: Find an article in the news that presents statistical results. Consider whether the study was done ethically and whether the presentation of results is appropriate.