Project #85973 - Quantitative Business Analysis

Assignment 1: (This is a discussion topic, I need about 3 paragraphs and references)

Do you use probability in your profession or real life? You most likely do. For example, the chance of rain tomorrow is 27%. We hear similar probabilities in the media all the time. Evaluate and discuss how you make decisions based on the probabilities you hear in daily life.

 

Similar probabilities could be found in other professions. Using a search engine, find an example of probability that is used in your chosen profession or real life. Explain the example and be sure to clearly cite the source of the information.

 

Assignment 2: (This needs to be a paper and Excel sheet that is well written, and formatted per APA Requirements)

The Sky Hospital Consortium consists of 40 hospitals in various parts of the US. After being discharged, patients are given a survey to determine if they are satisfied with the overall service. In most cases patients are satisfied. However, some are dissatisfied. In addition, out of those who responded as being dissatisfied, some filed a formal complaint. In the Excel file, Hospitals, linked at the bottom of the page, are the results for the patients during a specific year. The Sky Hospital Consortium is divided into the West, Central, and East Regions.

 

The Sky Hospital Consortium wants to evaluate the performance of the hospitals. The Consortium wants to know which hospitals have the fewest complaints. You are to assist in the data analysis by using your knowledge of probability and conditional probability to help with the ranking of the hospitals, as well as each Region.

 

Managerial Report

Prepare a report (see below) with your ranking of the hospitals based on the probabilities and conditional probabilities, as well as the analysis of each region. Include the following seven (7) items in table format to support your ranking. Be sure to use five (5) decimal places for your probabilities in the table, as some of them might be quite small.

 

The probability of a patient responding “Dissatisfied” in each of the three different regions.

The probability of a patient filing a formal complaint in each of the three different regions.

The probability of a patient filing a formal complaint given a patient response of “Dissatisfied” in each of the three different regions.

The probability of a patient responding “Dissatisfied” for each hospital.

The probability of a patient filing a formal complaint for each hospital.

The probability of a patient filing a formal complaint given a patient response of “Dissatisfied” for each hospital.

Rank the hospitals within each region for each of the probabilities in 4 - 6. In other words, only rank the hospitals in the West region against the other hospitals in the West region. Perform the same analysis for the other two regions. Then, within each region, find the sum of the ranks and get an overall ranking for each hospital. Evaluate and discuss the meaning of your results. Use tables, charts, graphs, or visual dashboards to support your findings.

Write a report that adheres to the Written Assignment Requirements under the heading “Expectations for Written Assignments” found in the Guide to Writing and APA Requirements.  As with all written assignments, you should have in-text citations and a reference page. An example paper is provided in the MTH410 Guide to Writing with Statistics, linked at the bottom of the page.

 

Your report must contain the following:

 

A title page in APA style.

An introduction that summarizes the problem.

The body of the paper should answer the questions posed in the problem by communicating the results of your analysis. Include results of calculations, as well as charts and graphs, where appropriate.

A conclusion paragraph that addresses your findings and what you have determined from the data and your analysis.

 

Submit your Excel file in addition to your report.

Subject Mathematics
Due By (Pacific Time) 10/13/2015 03:00 pm
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