A) Formulate both null and alternative hypotheses for the client, and explain why the hypotheses need to be directional or non-directional. B) Determine what statistical test should be used to analyze the data. C) Summarize all information used to determine the correct statistical test (e.g., number of groups, type of data collected, independent or repeated measures) D) Provide a sample size and critical values in relation to the hypothesis. E) State what statistical test should be used (be specific since you have all of the information you need to determine the critical value(s)). F) Discuss what the statistical analysis will do in answering the hypotheses and question(s) for the client. Also discuss any potential problems to watch out for, including an appropriate sample size to meet the assumptions of the statistical test. G) Be sure to use and show critical thinking in your writing. By critical thinking, you need to demonstrate the importance of scientific processes, how science will further our knowledge, and how your scientific approach is applicable to real world knowledge. Sharron’s Hand Made Furniture Sharron makes hand-made bedroom furniture, and will have a booth at the state fair. She will be selling furniture based on models shown at the fair. She is very excited about one new style of a bedroom suite (dresser-mirror, bed-frame, chest, 2 night stands) because it takes her half the time to make it compared to other styles. Not counting labor, it cost her 500 dollars to make this bedroom suite, and Sharron would like to sell the suite for 1,500 dollars. This is quite a bit of money, and so she would like to see if a couple different selling tricks would help her. She wants to try 3 different selling tactics. First, sell it at 2,000 dollars, but then the salesman goes down to 1,500 after talking to the potential customer. The second approach would be to sell it at 2,000 dollars with a 25% discount sign on the suite. The third approach would be to sell the furniture set at 1,500 dollars firm. Based on past experience, she can expect to sell on average 20 of these new bedroom suites a day by just selling the furniture for 1,500 dollars firm. Sharron will sell at the state fair for 15 days, and was thinking about using different selling tactics on different days (so alternate between tactics from day to day). As a statistical advisor, she would like your input into her plans on trying out different selling tactics, and help with analyzing the data.
In: Statistics and Probability
For the scenario on the next page, write a paper that explains the following to a prospective client: A) Formulate both null and alternative hypotheses for the client, and explain why the hypotheses need to be directional or non-directional. B) Determine what statistical test should be used to analyze the data. C) Summarize all information used to determine the correct statistical test (e.g., number of groups, type of data collected, independent or repeated measures) D) Provide a sample size and critical values in relation to the hypothesis. E) State what statistical test should be used (be specific since you have all of the information you need to determine the critical value(s)). F) Discuss what the statistical analysis will do in answering the hypotheses and question(s) for the client. Also discuss any potential problems to watch out for, including an appropriate sample size to meet the assumptions of the statistical test. G) Be sure to use and show critical thinking in your writing. By critical thinking, you need to demonstrate the importance of scientific processes, how science will further our knowledge, and how your scientific approach is applicable to real world knowledge. Sharron’s Hand Made Furniture Sharron makes hand-made bedroom furniture, and will have a booth at the state fair. She will be selling furniture based on models shown at the fair. She is very excited about one new style of a bedroom suite (dresser-mirror, bed-frame, chest, 2 night stands) because it takes her half the time to make it compared to other styles. Not counting labor, it cost her 500 dollars to make this bedroom suite, and Sharron would like to sell the suite for 1,500 dollars. This is quite a bit of money, and so she would like to see if a couple different selling tricks would help her. She wants to try 3 different selling tactics. First, sell it at 2,000 dollars, but then the salesman goes down to 1,500 after talking to the potential customer. The second approach would be to sell it at 2,000 dollars with a 25% discount sign on the suite. The third approach would be to sell the furniture set at 1,500 dollars firm. Based on past experience, she can expect to sell on average 20 of these new bedroom suites a day by just selling the furniture for 1,500 dollars firm. Sharron will sell at the state fair for 15 days, and was thinking about using different selling tactics on different days (so alternate between tactics from day to day). As a statistical advisor, she would like your input into her plans on trying out different selling tactics, and help with analyzing the data.
In: Statistics and Probability
What are the differences between results that demonstrate a correlation between two variables and results where a regression is run using two variables?
Think about your future clinical role and provide a clinical example of variables that you may want a correlation analysis run and explain.
Think about your future clinical role and provide a clinical example of variables that you may want a regression analysis run and explain.
In: Statistics and Probability
In: Economics
You have recently been hired as an accountant for the largest residential construction company in the state. Your primary responsibility is to track costs for each home being constructed. Tracking the costs for direct material and direct labor is relatively straightforward. Each home under construction has a job cost sheet. Materials requisitioned for each home site are carefully tracked and the construction workers are very careful about assigning their time to the homes they work on.
Accounting for manufacturing overhead costs, on the other hand, presents quite a problem. In the past, overhead has been allocated on the basis of direct labor hours. As a result, since larger houses require more workers, those houses have been allocated a larger share of the overhead.
Your company was recently selected by the state to build a number of low-income housing complexes. The state has agreed to an arrangement whereby they will pay your costs plus a 10 percent profit. Construction of these low-income housing units will be relatively simple and will not require a great deal of materials or labor, compared to the average house the company builds.
At a meeting following the granting by the state of the construction contract, the production foreman proposes the following idea: “Since the state has agreed to pay our costs plus 10 percent, the higher the costs on the project, the more money we make. What we need to do is to funnel as much of our costs as possible to this low-income housing project. Now I don’t want anyone to think I am proposing something unethical. I am not saying that we should charge the state for fictitious costs. What I am saying is that we should allocate as much overhead as possible to the low-income project. Therefore, I propose that we allocate overhead on a per-house basis with each house, regardless of size, being allocated the same amount of overhead.”
You have analyzed the activities that drive overhead costs and have found that bigger houses, in addition to requiring more direct materials and direct labor, require more inspections, more supervisions, etc. You can see that most in attendance at the meeting are being persuaded by the production foreman’s idea. You slowly raise your hand. It takes about ten seconds before al the voices go quiet. You look around the table and see ten of your colleagues staring at you. You open your mouth and…
Questions
1. What would you do in this situation? Is the overhead allocation method being proposed by the production foreman illegal? Is it unethical? Is it good strategy?
2. Suppose you argue that overhead should continue to be allocated on the basis of direct labor hours. After hearing your points, the group votes to go with the production foreman and allocate the overhead on a per-house basis. What would you do next?
3. Now, go back to your responses above and think carefully about what might be wrong with your logic or your approach. What are the potential risks or problems in your answers?
In: Accounting
In: Psychology
In: Nursing
Briefly explain 5 key problems or challenges for
vaccine development
(I want an explanation in detail
In: Biology
In: Biology
The element Mn has how many valence electrons? Please explain in detail why and how.
In: Chemistry