Question

Analyze the county-level population changes in your current state and another state of your choice. Once you have analyzed this data, prepare a business analysis for your manager.

In your analysis, include the following:

Analyze the business issue you are addressing.

Explain the business situation as you understand it.

Identify relevant data (observations and variables) that you will use to address the situation.

Justify your selection of an inferential method to address the business issue.

Explain the inference you wish to make. (Hint: You can estimate, test, or predict. If your selected inference is a prediction, identify what you are trying to predict and what you are basing your prediction on. If your selected inference is an estimate, identify what you are trying to estimate. If your selected inference is a test, identify the claim you are attempting to test.)

Identify the inferential statistical technique that would be the best tool to use for your selected prediction, estimate, or test.

Explain why you believe this would be the best tool for the situation. (Please note that you are not required to compute anything, simply to identify the best tool and explain why.)

Provide examples from your experience and/or from your research to support your selection of inferential statistical technique.

Answer 1

I am sitting in a different part of the world, hence I do not have access to county level population numbers. So the first part of the question (Analyze the county-level population changes in your current state and another state of your choice) is something you will have to find out.

But assume, that the population in your county has increased over a 2 year period time, and the same number is stagnant for the other county of your choice. My business is that of a recycling unit. And I am thinking of expanding and setting up a new recycling plant in the county of your choice. My business issue is, that I want to find out whether there is a correlation between county population and the amount of waste that is generated. That is to say, that if the county of your choice has 0 population growth, does it make sense for me to expand their.

For such an analysis, I would use correlation analysis. The correlation coefficient value ranges from -1 to +1 and my two variables would be population size and amount of waste generated per month.