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2022 Assignment 2

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7 views

2022 Assignment 2

Uploaded by

ashleyminhas22
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Business Statistics SCMA 1000 Winter 2022

Assignment 2

Due no later than Monday, April 8, 2022, 11:59 pm (last day of classes)
All assignments to be handed in by means of online dropbox
This is an individual assignment

Wikipedia, the free encyclopedia, defines evidence-based management as:

“an emerging movement to explicitly use the current, best evidence in management and
decision-making. Its roots are in empiricism and well developed in evidence-based
medicine and evidence-based policy. These are quality movements aimed at applying
the scientific method to evaluating practice.”

The purpose of this assignment is to get you to think about how you might use some of the statistical
techniques covered in this course in making better business decisions.

1. Let’s use a fully randomized ANOVA to assist in making a business decision. Think of a
business decision for which a fully randomized ANOVA would be relevant. Describe your
business challenge.

2. Start by creating a small data set that would be appropriate to be analyzed using a fully
randomized ANOVA. For inspiration, you can refer to pages 613 to 615 of your textbook. In
these examples, there are three or four treatments or groups and five to eight observations in
each treatment or group. Feel free to have more treatments if this makes sense in your
situation but don’t go for any less than five observations in any treatment or group. It is also
OK if the treatments or groups do not have the same number of observations (aka., unequal
sample sizes). Do not copy the data from any example in the textbook or from a fellow
student, you need to come up with your own unique data set. In as much as possible, the
data should be realistic given your business issue.

3. Although your data set is made up, describe how you would have gone about collecting this
data in the ‘real world.’ You may wish to reference some of the ideas from section 7.5 of the
textbook.

4. Create a graphical representation of the data. Some of the material in Chapter 2 may be
useful here.
5. Before we get started on performing an ANOVA on the data, it would be good to check on the
assumptions of ANOVA. These are discussed on page 601 of the textbook. Give the
assumptions of ANOVA and why you believe the assumptions are met in your situation.

6. Test the appropriate hypothesis for your data. Start by stating an appropriate null and
alternate hypothesis.

7. Choose whatever level of statistical significance you think is appropriate but give a rationale
for your choice.

8. Calculate everything you need to (1) test your hypothesis.

9. Complete the ANOVA table for your data.

10. Give your statistical decision based on the results of your analysis, but more importantly
relate your statistical results to the business decision or situation that you started with.

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