MGMT600 Use Common Statistical Tests to Draw Conclusions From Data

I’m working on a Statistics question and need guidance to help me study.

Write 1000-1500 words

Big Data is everywhere and various businesses around the world are driven by Big Data. However, while some businesses rely on Big Data for organizational decision making, this does not mean that the implications and applications of Big Data are properly used to ensure optimal effectiveness for the organization

For this scenario, you have been appointed as the Business Analyst for Big D Incorporated charged with providing authoritative recommendations to the Board of Directors. As the Business Analyst, the recommendation you provide will be based upon data calculated from statistical appropriate formulas. Be reminded that you are not the company’s statistician yet the Business Analyst and therefore responsible for interpreting statistical data and making the appropriate recommendations.

General Summary, Census Trend 1980 to 2000 Summary, Occupation and Employment Summary, and Income Summary based on the entire United States is here.

Reports for zip code 60614 is here. This particular file contains 4 reports: General Summary, Census Trend 1980 to 2000 Summary, Occupation and Employment Summary, and Income Summary based on the U.S. zip code 60614.

Big D Incorporated was offered a series of business opportunities and it is your job as the Business Analyst to provide expert insight and justification for recommendations regarding these potential prospects. Your recommendations are

•The company should invest in Chicago.

•Big D should adjust its prices to ensure that it can attract the income earners in the state.

•The company should invest in its marketing and promotion to attract the unemployed laborers in the state.

For the outdoor sporting goods client, based upon your prior decision on whether or not to either expand to the next market or retain your current position, justify your decision further utilizing the Chi-Square Distribution tool. One key criterion point: You do not have adequate data to formulate a full Chi-Square for the outdoor sporting goods client. However, you do have sufficient data to initiate this process. You are charged to demonstrate the initial steps of a nonparametric test that are qualitative. Utilizing the null and alternative hypothesis, further present your justifications for your selection and what it means beyond the mere formulas. What is this going to tell the Board of Directors and contribute to the decision-making process?

The following information may be helpful in understanding Chi-Square and hypothesis testing:

Chi-Square and Hypothesis Testing

Please review this helpful video. The presenter uses the “flip of the coin” and the “role of the die.”

The following are assumptions you might make in this assignment that might make the assignment more helpful and make the responses more uniform:

  • Continue to utilize the Big D scenario. Work under the assumption that the sample is based upon two different proposed product lines.
  • Additionally, work under the assumption that the same demographics are utilized for each product.

Use introduction, conclusion and APA 6th Edition format.

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