STATISTICS FOR BUSINESS – MNS 601
Special Project
Project Description:
Identify and analyze a real-life, business application of statistics. The µsiness£an be a for-profit, non-profit, small or large entity. The following are not
acceptable topics:
specific application/problem discussed in class
n application that uses descriptive statistics (i.e., graphs, percentages,
measures of central tendency or dispersion)
The statistical procedure you choose to illustrate MUST be one that was covered
in this course.
You do not have to collect actual data from a business or apply the statistical
procedure/calculate an answer.
To complete your project, copy and paste the form on the second page of this
document. Then, fill in all the blanks. You can adjust the size of the answer
spaces as necessary 4he lines are just there to indicate where the answers go.
Do not hand in this instruction page.
Criteria & Administration:
Be concise. Your project submission must not exceed two (2) pages in length (12point font).
You must write this. Copies of documents/analyses written by someone else
will not be accepted.
Submit this project via the course website.
The form provided is in bold font. Do not use bold font for your responses.
Using a colored font (other than red) for your responses is preferable.
Hints:
If you need help finding ideas for business applications, read the problems at the
end of the relevant sections/chapters of the textbook. These problems usually
include a business application/context. And, you can always ïogle it.NS 601 Special Project
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If you have difficulty finding an actual business application, you can design and
propose one for a specific business.
MNS 601 Special Project
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STATISTICS FOR BUSINESS – MNS 601
Special Project
Name:_________________________________________
Date: ____________
Part A: Description of Business Context
Write a brief summary of the business context (e.g., manufacturing, marketing,
finance, etc.) including the name of the company or organization.
________________________________________________________________________
________________________________________________________________________
Part B: Problem/Issue
State the business problem/issue to be addressed using statistics and why this
problem/issue is important to the company/organization.
________________________________________________________________________
________________________________________________________________________
Part C: Statistical Procedure
Explain the statistical procedure (NOTE: Focus on ONE statistical procedure
only)
1. Independent variable:
a) What is the variable: ___________________________________________
b) How it is measured, i.e. what units or categories are used (e.g.,
revenue measured in /llarsàheight measured as èort, average,
tall`_______________________________
c) Level of measurement (nominal, ordinal, interval, or ratio):
________________________________________
2. Dependent variable:
a) What is the variable: ___________________________________________
b) How it is measured, i.e. what units or categories are used (e.g.,
revenue measured in /llarsàheight measured as èort, average,
tall`_______________________________
c) Level of measurement (nominal, ordinal, interval, or ratio):
________________________________________
3. Name of the procedure/formula (e.g., ANOVA, Chi-Square, Hypothesis
Test using z formula, Regression Analysis, etc.). NOTE: The procedure/
formula must be one that was covered in the course:
__________________________________________________________________
4. Describe the statistical rationale/justification for choosing this
procedure/formula: _______________________________________________
__________________________________________________________________
MNS 601 Special Project
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5. Describe how the data are collected by the business/organization:
__________________________________________________________________
6. Describe how the data are analyzed (i.e., identify the steps in the
statistical procedure):
______________________________________________________
__________________________________________________________________
Part D: Decision/Interpretation
Explain the type of business decision that the company/organization would
make as a result of this statistical analysis. ________________________________
________________________________________________________________________
MNS 601 Special Project
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