Statistics
1. How would you apply probability concepts, such as
confidence intervals and point estimation principles, to make sound business
decisions where there are conditions of uncertainty (risk). Pick a specific
example from your own area of business experience.
2. Does good research always result in decisions that
..Mobilize the organization to take appropriate actions that, in turn, maximize
business performance”? Why?
3. Now to good business research characteristics. Consider:
“good business research would be research that seeks out the problems
underneath the problems, one that seeks out a true solution to help the
company. We would expect this to require precise planning and data acquisition.
“. From this we have:
â?¢ addresses
the real problem not symptoms
â?¢ provides a
solution
â?¢ precise
planning
â?¢ data
acquisition
These are some but are they sufficient to give us good
business research? what else is needed
4. Consider, “Inductive reasoning does not have the
strength of relationship between reasoning and conclusion that deductive
reasoning does. â??Why is this? Surely there must be a relationship between
reason and conclusion in inductive logic.
5. Consider, can we always create an inductive logic example
if we have a deductive logic example ? explain.
6. Consider “600 sounds like a feasible sample size,
but it is all relative to the size of the customer base. “
Why care?
ScholarMatic: Explanation & Answer
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