Scenario: Upon successful completion of the MBA program, imagine you work in the analytics department for a consulting company.Analyze one of the following databases:
- Manufacturing
- Hospital
- Consumer Food
- Financial
Select one of the databases based on the information in the Signature Assignment Options.
Provide a 1,600-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:
- What is the sample?
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.
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?
Sample Solution