Project #72575 - Quantitative Analysis

 

Hello,

 

I have 4 sets of questions below.  I would like to have 150 to 200 words per question and examples fully explained especially where indicated. I have listed references but would like to have at least one other reference used for the questions besides what I have listed below.  Please let me know if these questions can be answered by June 2, 7:00pm eastern time.

 

Thank you,

 

References:

 

McClave, J.T. Benson, G.P., & Sincich, T., (2014). Statistics for Business and Economics. (12th ed.). Boston: Pearson Education Inc.

 

Cooper, D.R. & Schindler, P.S. (2014).  Business Research Methods (12th ed). New York, NY

 

 

 

Question 1

 

ANOVA is a practical tool that can be used to compare two groups either with one independent variable or with two independent variables. It can be used to gauge differences in worker responses to employee engagement at a particular organization, or it can be used to show differences in employee productivity on particular work shifts based on specific variables.

Respond to the following:

 

•   How might ANOVA be used in manufacturing to repair a process or improve a process?

 

Support your statements with appropriate examples and scholarly references.

 

 

 

Question 2

 

Chi-square is particularly used with nominal data. This tool is quite helpful when people, objects, or events are grouped in two or more nominal classes as of A, B, C, and D, for or against, and yes or no.

Consider that a specialty retail chain wants to determine if their strategy for changing the product mix has resulted in increased revenues. Now, respond to the following:

 

•   How would you use chi-square analyses to find out if the product mix change has resulted in increased revenue?

 

 

 

 

 

New Questions

 

Question 1

 

Oftentimes, variations in a company’s sales are related to a difference in product prices as well as in consumers and consumers’ incomes, tastes, and preferences. Considering this, respond to the following:

 

•   How would a business manager use correlation to determine what the variation of sales is related to?

 

Support your answer with appropriate examples.

 

 

 

Question 2

 

Business organizations use linear regressions to make estimates or forecasts as well as to evaluate trends.

Respond to the following:

 

•   How would a company use linear regression to plot monthly sales data over a year to show trends and produce sales forecasts?

 

Support your answer with appropriate examples.

 

 

 

Subject Business
Due By (Pacific Time) 06/02/2015 7:00pm
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