Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

Applied Business Research and Statistics - Essay Example

Comments (0) Cite this document
A population accounts for absolutely everyone in consideration for observation whereas sample is only a part which is considered for observation to reach the conclusion on selected sample. The collected sample should correctly represent the population in unbiased manner for establishing the success of experiment from the result of observation…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER92.8% of users find it useful
Applied Business Research and Statistics
Read TextPreview

Extract of sample "Applied Business Research and Statistics"

Download file to see previous pages But he realized that managers can select their favorite subordinates which can make the sample biased. So he put the id and name of each employee in excel sheet and created one extra corresponding column for each employee id which is filled by executing the function of random number. Then, selecting the top ten results after sorting the random numbers gives him unbiased sample.
In above example, population could have been taken participation from each employee i.e. data is collected from each member of population. But the sample has been chosen as representative of population to draw the conclusion. Hence, the difference between results of two scenarios is evaluated by sampling error.
Sampling error can be zero in some of the cases. If we have to take the opinions of all the engineers in above case, and sample takes the true proportion of 100% engineer. It can be stated in other way as if the sampling error is zero then the population is uniform or perfect representative sample of population is taken for research purpose.
Let us take an example of nation which is combined unit of states. We can choose the random samples of states which can be further divided into smaller units like city from selected states. These cities can be clustered into smaller areas for observation. Researchers can define his pattern of selecting the sample data until data condition of observation is fully satisfied.
3) It is not possible to study the entire population and accessibility of them is time consuming and difficult
For Example, Let us consider the case of preparing a list of all the customers from a chain of hardware stores. It is tedious task. But it is convenient to choose a subset of stores in stage one of cluster sampling which can be used for interviewing the customers from those stores in the second stage of cluster sampling.
34. Information from the American Institute of Insurance indicates the mean amount of life
insurance per household in the United States is $110,000. This distribution follows the
normal distribution with a standard deviation of $40,000.
a. If we select a random sample of 50 households, what is the standard error of the mean
b. What is the expected shape of the distribution of the sample mean
c. What is the likelihood of selecting a sample with a mean of at least $112,000
d. What is the like ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Applied Business Research and Statistics Essay Example | Topics and Well Written Essays - 2000 words”, n.d.)
Applied Business Research and Statistics Essay Example | Topics and Well Written Essays - 2000 words. Retrieved from
(Applied Business Research and Statistics Essay Example | Topics and Well Written Essays - 2000 Words)
Applied Business Research and Statistics Essay Example | Topics and Well Written Essays - 2000 Words.
“Applied Business Research and Statistics Essay Example | Topics and Well Written Essays - 2000 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Applied Business Research and Statistics

Applied statistics for economics

...? Due: Stock market prediction has been of major interest to the statisticians and econometricians for quite some time. Having an accurate idea and knowledge relating the future performance helps traders and farmers to invest in the most viable business opportunities thus maximizing the profits. Analysis of time series data and forecasting has been used in many fields and most commonly in the stock market prediction using the past data. INTRODUCTION Time series analysis is a form of statistical data analysis on a series of sequential data points that are usually measured at uniform time intervals over a period of time. A time series can be said to collection of data yt (t=1,2,…,T), with the interval between yt and yt+1 being fixed... price...
10 Pages(2500 words)Essay

Applied statistics

...remains BLU. However, the estimate are not efficient or that they will provide minimum variance. BLU means being best and linearly unbiased estimate or that they are “consistently and asymptotically distributed”. This being the case, we can rely on the regression to a certain extent especially because the standard error of the regression is small anyway. Meanwhile, following Gujarati (2004: 411-412), the Breusch-Godfrey test for autocorrelation was applied on regression model 2 and the Breusch-Godfrey test obtain a significance in the F-statistics of 0.019871. Adopting a critical alpha of 0.01 will not allow us to reject the null hypothesis of no autocorrelation of any order under the Breusch-Godfrey...
4 Pages(1000 words)Essay

Business Statistics

...Business Statistics – Correlation and Regression I. Introduction a. Correlation and regression have applications in various fields and business management is no exception. b. Regression, which identifies the numeric connection between the variables, is discussed in detail along with the method to formulate a straight line regression equation using the Least Squares method c. Hence the method to compute the coefficient of determination which gives a numeric value of the goodness of fit is included in the report II. Correlation refers to the degree of association between two variables. When two variables are said to be correlated, it indicates that there is a relationship or a pattern in...
2 Pages(500 words)Term Paper

Business Statistics

...will use both closed and open-ended questionnaires. Then clarify all questions to interviewees in order to elude misinterpretations. Thereafter, allow them to express their views without any form of biases. In addition, I will conduct personal interviews with the organizations managers’ while public interviews with other business organization workers. Finally, I will conduct personal observation through observing the progress of all companies that conduct advertisement and those that do not. I will apply multistage sampling technique because it will enable me in collecting large amount of data representing all the companies that advertise their products and those that do not. I will randomly choose the...
8 Pages(2000 words)Essay

Business statistics

...for the logged data From the data of unlogged the kurtosis and skewness is calculated according to following formula respectively. Use of Kurt in statistic formula and skew Skew = -0.33589 Kurt = 0.018428 Since from above data the gotten skewness is negative it shows that the left tail is longer. Since the kurtosis is positive, the curve is said to be relatively flat. Form the above data, we can still display ogive of the data. Bin Frequency Cumulative...Here we need to forecast the relevant future trends. .From the above knowledge, critical values, p values, and test statistic cannot be calculated without enough knowledge leading to formation of two data sample to be compared. To form data on logged tree fro...
4 Pages(1000 words)Essay

Applied Business Research

...). Nominal level of measurement 5. Indicate the political party with which you most identify: (1) Democrat, (2) Republican, (3) Libertarian, (4) Independent. Ordinal level of measurement 6. (10 points) List three reasons why you might want to transform data. I. To change the shape or the relationship of the distribution. II. The data may be transformed to obtain a more convenient or standardized scale such as sines rather than degrees or percentages. III. To reduce skewness (make the distribution symmetric) and make it easier to handle the data. 7. (5 points) Bar Charts (created in Step 5 top of p. 86) b. (5 points) Reliability Statistics, Inter-Item Correlation Matrix, and Item-Total Statistics ...
4 Pages(1000 words)Admission/Application Essay

Applied Business Research-week 4

...The importance of happiness BD3 current focus on happiness The easiest way of accelerating an individual’s effectiveness is through crafting a tranquil auspicious environment that emboldens stakeholders’ happiness. Happy people mean a lot in the workplace and particularly to executives who like proliferating in the commercial arena for they require happy workers. The focal aspect inspiring managers to have cheerful labor force is because happy staff works impeccably and in cohesion thus boosting the organization’s reputation and productivity (Ferguson, 2010). Solidarity upsurges creativeness as the staff can access an interactive environment thus diversifying their acquaintance. Managers will not stop talking and researching about... ). The...
4 Pages(1000 words)Assignment

Week 4-Applied business research

...Review Test Quiz #2 Content User Lisa D Waldron Fall Appld Bus Research: BUS 698 01 [0197] (Online BA Test Quiz #2 Started 9/27/14 3:24 PM Submitted 9/27/14 4:18 PM Due Date 9/28/14 11:59 PM Status Needs Grading Attempt Score Grade not available.   Time Elapsed 53 minutes out of 1 hour. Instructions You will be presented with one question at a time. You have 60 minutes to answer all the questions. You cannot backtrack. Deep breath, hold it........let it out....... Now begin : ) Question 1 0 out of 2 points Please circle T or F to indicate whether you believe each of the following statements is True or False. Declaring the value “8” on a variable to be “missing” in SPSS will in effect instruct SPSS to assign a...
4 Pages(1000 words)Assignment

Week 4-Applied business research

...what is the interquartile range? The interquartile range is represented by the length of the boxplot which is obtained by Q3-Q1, which is 12500-9500= 3000. c) Which graph, the histogram or the boxplot, provides YOU with the best information about the number of residents over 65 in U.S. cities and why? The boxplot provides the best information as it reveals how the population is distributed and the outliers. It does not make any assumptions of the underlying statistical distribution and the line extending perpendicularly designates the variability outside the lower and upper terms. Unlike the histogram, the boxplot enables the visualization of range, interquartile range and trimean. Its mean estimation is more...
4 Pages(1000 words)Assignment

Applied Research not only necessary but also instrumental in ensuring objectives are met. Conducting the study before proper identification of underlying problem increases chances of client dissatisfaction with resultant findings. On the other hand, thorough problem identification without detailed research design will yield non-objective results. In this regard, it is undeniable that a successful applied research process should have all the four major steps discussed in the essay. References Bickman, L. & Debra, J. R. (2013). Applied Research Design: A practical approach. Journal of American Statistical Association, 23, 45-72. Hamilton, L. V. &...
4 Pages(1000 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Applied Business Research and Statistics for FREE!

Contact Us