Decision Making With Statistical Data (downloadable)
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This document discusses the analysis of Company W's new snack formula using business statistics, focusing on qualitative ratings and various levels of measurement. It includes examples of how to assess taste and appeal of snacks through population and sample data. The content is supported by references to statistical literature and techniques applicable in business decision-making.
Decision Making With Statistical Data (downloadable)
- 1. AN INTRODUCTION TO ANALYZING COMPANY W’S NEW SNACK FORMULA MARK CARLSON P1IP1 MAY 26, 2008 Decision Making with Statistical Data
- 2. Introduction Business Statistics Qualitative Rating Examples Interval and Rational Data Population and Samples
- 3. Definition Variables/Attributes Qualitative Quantitative Levels of Measures Business Statistics
- 4. Nominal & Ordinal Interval & Ratio Levels of Measure
- 5. Nominal & Ordinal Rating Examples Nominal Ordinal Ordinal How does the chip taste? How do you rate the taste of bag “A” as compared to “B”? How appealing is the chip bag? Tangy Superior “ I’ve got to try it!” Salty Better “ It looks interesting.” Cheesy About the same “ I can live with it.” Sweet Not as good “ It’s not too appealing.” Plain Far inferior “ Gross!”
- 6. Population and Samples Population Examples Sample Bias
- 7. Conclusion Business Statistics Qualitative Rating Examples Interval and Rational Data Population and Samples
- 8. References Gibilisco, Stan. (2004). Statistics demystified. Retrieved May 25 from http://site.ebrary.com/lib/cecybrary/Doc?id=10089198&ppg=54 Lind, D., Marchal, W., Wathen, S. (2008). Statistical techniques in business & economics. (13 ed.). New York, NY: McGraw-Hill Irwin. Kazmier, Leonard. (2003). Schaum's easy outline : Busines statistics. Retrieved May 5, 2008 from http://site.ebrary.com/lib/cecybrary/Doc?id=10045338&ppg=11 Peddiniti, S. (2006). Ordinal data. Retrieved May 23, 2008 from http://www.isixsigma.com/dictionary/Ordinal_Data-1538.htm. Superville, Claude (2008). Live Chat Session: MGM600 4 47 0 . Retrieved May 24, 2008 from CTU Online, MGM600-0802B-04 : Applied Managerial Decision-Making.