What Have You Learned About Statistics?
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Statistics for Managers: What Have You Learned About Statistics? Descriptive Statistics, Central Tendency Measurement, Measures of Spread Instructions:
Final Paper
The Final Paper provides you with an opportunity to integrate and reflect on what you have learned during the class.
The question to address is: “What have you learned about statistics?” In developing your responses, consider – at a minimum – and discuss the application of each of the course elements in analyzing and making decisions about data (counts and/or measurements).
The course elements include:
Descriptive statistics Inferential statistics Hypothesis development and testing Selection of appropriate statistical tests Evaluating statistical results. The paper
Must be three to-five double-spaced pages in length (not including title and references pages) and formatted according to APA style as outlined in the Ashford Writing Center. Must include a separate title page with the following:Title of paper Student’s name Course name and number Instructor’s name Date submitted Must begin with an introductory paragraph that has a succinct thesis statement. Must address the topic of the paper with critical thought. Must end with a conclusion that reaffirms your thesis. Must use at least three scholarly sources in addition to the course text. Must document all sources in APA style as outlined in the Ashford Writing Center. Must include a separate references page that is formatted according to APA style as outlined in the Ashford Writing Center. cument. Thank you for your help!
Content:
Statistics for Managers Name: Institution: Research question: What have you learned about statistics? Introduction Statistics forms an important part of the decision-making process in an organization. Managers rely on statistical findings to determine the strategic plans to be pursued by the organization. Managers may need statistics of the size of customers in the market to determine the level of production for the firm. Managers may also need statistics concerning the number of competing companies in the market to decide on effective advertising strategies (Tanner & Youssef-Morgan, 2010). Furthermore, managers rely on statics concerning the financial expenditure and sales of the organization to determine salaries for its employees. To elaborate on the role of statistics in the company, the research focused on five major course elements namely; Inferential statistics, descriptive statistics, hypothesis development and testing, selection of appropriate statistical tests and evaluating statistical results. Descriptive statistics Descriptive statistics plays a significant role in analyzing data. Usually, it gives a summary of data in a manner that makes it possible to get the actual meaning of data patterns. With descriptive statistics, managers can only conclude from the data at hand and cannot decide based on the unproven hypothesis (Tanne
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