Statistics in Business QNT/351 Statistics in Business What is statistics? Statistics is collecting‚ measuring‚ analyzing‚ and communicating data. There are two types of statistics‚ descriptive statistics and inferential statistics (Lind‚ Marchal‚ & Wathen‚ 2011). Statistics are applied in different situations. This paper will describe the role statistics has in making business decisions. This paper will also provide examples of situations in which statistics are applied
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DATA COLLECTION Business Statistics Math 122a DLSU-D Source: Elementary Statistics (Reyes‚ Saren) Methods of Data Collection 1. 2. 3. 4. 5. DIRECT or INTERVIEW METHOD INDIRECT or QUESTIONNAIRE METHOD REGISTRATION METHOD OBSERVATION METHOD EXPERIMENT METHOD DIRECT or INTERVIEW Use at least two (2) persons – an INTERVIEWER & an INTERVIEWEE/S – exchanging information. Gives us precise & consistent information because clarifications can be made. Questions not fully understood by the respondent
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Business QNT/351 Donald Lifke Statistics in Business Statistics is defined as the science of data. It involves collecting‚ classifying‚ summarizing‚ organizing‚ analyzing‚ and interpreting numerical information. (McClave‚ Benson‚ & Sincich‚ 2011‚ p. 3). . There are two different application process involved in statistics; descriptive and inferential. Descriptive statistics is the analysis that helps describe‚ summarize or show data in a way to allow patterns to emerge from the data. This
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Unethical Research in the Pharmaceutical Industry Lyndsae Erdmann RES/351 01/19/15 James Bankston Unethical Research in the Pharmaceutical Industry The Pharmaceutical drug companies have a tendency to focus more on the sales and revenue than the research of any given product. This trend leads to misrepresentation of crucial scientific research on products. “A wide variety of research practices has been described as being used to distort the medical literature in favor of a clinical trial sponsor’s
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Data collection is any process of preparing and collecting data‚ for example‚ as part of a process improvement or similar project. The purpose of data collection is to obtain information to keep on record‚ to make decisions about important issues‚ or to pass information on to others. Data are primarily collected to provide information regarding a specific topic. Data collection usually takes place early on in an improvement project‚ and is often formalized through a data collection plan which often
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Ballard Integrated Managed Services‚ Inc. (BIMS) is a nationwide company that provides housekeeping and foodservices to not only businesses but also large corporations. BIMS is competitive and the clientele list includes Fortune 100 businesses‚ numerous midsized firms‚ many major universities‚ over a dozen medical centers‚ and three larger airports. BIMS employs 452 employees‚ who include full- and part-time workers along with upper management. Even though the annual turnover rate is 55% to 60%
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QNT/351 1) The main purpose of descriptive statistics is to A. summarize data in a useful and informative manner B. make inferences about a population C. determine if the data adequately represents the population D. gather or collect data 2) The general process of gathering‚ organizing‚ summarizing‚ analyzing‚ and interpreting data is called A. statistics B. descriptive statistics C. inferential statistics D. levels of measurement 3) The performance of personal and business investments
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Business Research EthicsDavid ZapataRES 351July 17‚ 2014Dr. Emma MillerBusiness Research EthicsAn article of interest that I found on our university library is about‚ Joseph J. C. DiCarlo‚ a mayor of Boston‚ Massachusetts. Joseph J.C. DiCarlo was found guilty of embezzling $40‚000 from a consulting firm in New York for suppressing a legislative report. This report unfavorably criticized the firm’s construction contracts. Joseph J.C. DiCarlo already had a tarnished reputation of a corrupt official
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Sampling and Data Collection Antonio Walker QNT 561 March 19‚ 2015 Samuel Imarhiagbe Sampling and Data Collection B.G.J. &W. Diamond Company is one of the most prominent diamond cutters‚ importers‚ and designers of fine jewelry in the country. Members of B.G.J. &W are Diamond Graduates of the Gemological Institute of America and proud members of the World Federation of Diamond Bourses and the Diamond Dealers Club of New York. As such‚ B.G.J. &W Diamond Company offers an astonishing assortment of
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In this pack of QNT 561 Week 2 Discussion Questions you will find the next information: DQ 1: What is the purpose of sampling? What are some concerns and dangers of sampling? How important is the sample design to data validity? Explain. Provide an example where a sample might misrepresent data validity. DQ 2: What are some examples of operational definitions in research design within your profession? General Questions - General General Questions QNT 561 All Week 2 Assignments –
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