Expert answer:I would like some directions, I am overwhelmed wri
Expert answer:Use the same business problem/opportunity and
research variable you wrote about in Week 3. (See Attached)Note: Do not actually collect any data; think
hypothetically. Develop a 1,050-word report in which you:
Identify which types of
descriptive statistics might be best for summarizing the data, if you were
to collect a sample.
Analyze which types of
inferential statistics might be best for analyzing the data, if you were
to collect a sample.
Analyze the role probability or
trend analysis might play in helping address the business problem.
Analyze the role linear
regression for trend analysis might play in helping address the business
problem.
Analyze the role a time series
might play in helping address the business problem.
businessassignment_week3.doc
Unformatted Attachment Preview
1
Business Decision Making Project Part 1
Deen Farmer
QNT/275
November 13, 2017
Mart Vitale
2
Planning an Excellent Holiday Party
Decision making is a very important aspect of any business. Being able to make the right
decision can save a company money and time. Data collection enables a company to make
informed decision based on the analyses of the collected data from the use of statistics. An
element or member of a sample or population is a specific subject or object (for example, a
person, firm, item, state, or country) about which the information is collected. The value of a
variable for an element is called an observation or measurement. A data set is a collection of
observations on one or more variables. (Mann) Hence we arrive at the two types of variables
quantitative and qualitative. Additionally, variable that can be counted are called discrete, where
as those that cannot are called continuous. They can assume any numerical value between 0 and
1, therefore are called continuous. There are many methods data can be collected. I will use the
method of a questionnaire or survey, if you will to gather information that will insist with finding
out the number of expected employees to attend the company’s holiday party.
How can we determine who is attending our holiday event?
Have you ever been invited to a party, arrived a little late to discover that they have either
ran out of food or beverages? Well, sad to say but this seems to happen every at our company
holiday party. The managers provide all of the meats for the party and each employee is asked to
bring side dishes. When you think of holiday’s; it is should be a time filled with laughter.
Spending time with family and friends sharing joy and love.
First, I would think you would have to know the number of people that will attend the
event. If we estimate too few employees we run out of food, which has been past history and
some of the employee’s possibly going hungry. (Yes, I was one of them that had a skimpy plate
last year). On the contrary, if we estimate too many people, we will have an excess and large
3
amount of food wasted. I know I have heard it say too often, “It is better to have more food, than
not enough to go around” Is this a familiar phase that you have heard as well? But take a moment
to thank how this money spent on excess food could go towards other items for the event, i.e.
paper goods or decoration. Wow, I’m beginning to think I need to be on the planning
committee… Not! (Smile)
To gather this information and identify the number of employee’s that will attend this
event I will take a simple RSVP questionnaire. There are a number of programs that are
available. One of the best ways a business can be certain the reliability and validity of their data
is to consult an expert that knows how to make the survey authentic and calculate the results
accurately. One that I have taken part in personally is Survey Money. See Fig 1.
This is an example template that one might use that can be customized with questions fit
your need. I think being that every employee has a computer and a company email account, the
easiest way would be simply poll our employee’s by sending a group email to every employee
within our department. The email would announce the yearly holiday party, with the date, time,
and location of the party. It would simply ask, “Are you planning to attend?” I will have to take
note to those that may be out of the office at the time of the survey and make a note to follow-up
with each one, if possible to ensure they are included in the survey. This way, we shouldn’t have
that many unexpected employee’s showing up that didn’t already RSVP.
4
Fig.1
5
Collecting data is a very important part of the research. How you collect the data is just
as important. There are two major classifications of categories of data collection methods for
collecting data; quantitative and qualitative. Being that we are conducting a very simple survey
where we will summarize the results that will be expressed in numerical form we will use the
quantitative method to ascertain the number of expected employee’s to attend the holiday party.
Pro’s and Con’s of using a Quantitative Survey: Unlike the open-ended questions
asked in qualitative questionnaires, quantitative paper surveys pose closed questions, with
the answer options provided. The respondents will only have to choose their answer among
the choices provided on the questionnaire
•
(+) Similarly, these are ideal for use when surveying large numbers of respondents.
•
(+) The standardized nature of questionnaires enable researchers to make
generalizations out of the results.
•
(-) This can be very limiting to the respondents, since it is possible that his actual
answer to the question may not be in the list of options provided on the questionnaire.
•
(-) While data analysis is still possible, it will be restricted by the lack of details
(Cleverism)
After collecting the data we need to analyzing the collected data. The monkey survey has
the capabilities of obtain this information for you according to your filtered results. This will
ensure that the data being evaluated is valid and reliable. The use of charts, tables and graphs can
be utilized to represent the collections of data in a way that is easily understood by the audience.
For instance, if the response was received and calculated: 200 employees: Yes = 150, No =45,
Maybe=55 I could show this by the following pie chart. Fig 2.
6
Fig. 2
Conclusion
After gathering the collected data, I will then calculate the responses in a excel spread
sheet. I could do this by organizing the data in simple rolls and columns in a table format “YES”
“NO” “Maybe” From the responses this will give me a estimate of guests, this will ensure that
we have enough food for all the employee’s and make sure we have an accurate employee count.
7
References
Mann, Prem S. Introductory Statistics, 9th Edition. Wiley, 2016-02-15. VitalBook file.
SurveyMonkey https://www.surveymonkey.com/create/?sm=0i4FFAAZ55I3QUpxYFOAKkXBFK1BtoqOk8sl3
a8Cjlk_3D
Cleverism
https://www.cleverism.com/qualitative-and-quantitative-data-collection-methods/
…
Purchase answer to see full
attachment
How it works
- Paste your instructions in the instructions box. You can also attach an instructions file
- Select the writer category, deadline, education level and review the instructions
- Make a payment for the order to be assignment to a writer
- Download the paper after the writer uploads it
Will the writer plagiarize my essay?
You will get a plagiarism-free paper and you can get an originality report upon request.
Is this service safe?
All the personal information is confidential and we have 100% safe payment methods. We also guarantee good grades