QNT 275 Week 2 Data Collection and Sampling

  Explain how to obtain a suitable sample of qualitative and quantitative business data.

  Evaluate the validity and reliability of data to support making statistical inferences.

   Interpret numerical business data using measures of central tendency (mean, median, and mode) and variability.

Learning Activities Required

Obtaining a Suitable Sample

Watch the “Obtaining a Suitable Sample” video.

Sampling, Surveying, and Data Analysis

Watch the “Sampling, Surveying, and Data Analysis” video.

Data Bias and Error

Watch the “Data Bias and Errors” video

Eliminating Vagueness, Ambiguity, and Bias

Watch the “Eliminating Vagueness, Ambiguity, and Bias” video

Measuring Central Tendency and Variability

Watch the “Measuring Central Tendency and Variability” video.

Statistics Intro: Mean, Median, and Mode

Watch the “Statistics Intro: Mean, Median, and Mode” video.

Note: All content is available for free at www.khanacademy.org

Finding the Range and Mid-range

Watch the “Finding the range and mid-range” video.

Note: All content is available for free at www.khanacademy.org.

Range, Variance, and Standard Deviation as Measures of Dispersion

Watch “Range, variance, and standard deviation as measures of dispersion” video.

Note: All content is available for free at www.khanacademy.org.

Psychology Research in Context: Measuring Validity

Watch the “Psychology Research in Context: Measuring Validity” video.

Deviations for a Sampling Distribution: Reliability Measurement

Watch the “Deviations for a Sampling Distribution: Reliability Measurement” video.

Essentials of Business Statistics, Ch. 3

Essentials of Business Statistics, Ch. 7

Presenting Data Effectively, Ch. 2

Read the “How Do I Efficiently Locate High-Quality Images” section in Ch. 2 “Graphics” ofPresenting Data Effectively: Communicating your Findings for Maximum Impact.

Week 2 Learning Team Collaboration Discussion: Descriptive Statistics

Read Case Study 3.3 on page 98 in Essentials of Business Statistics, Chapter 3.

Access the Fort Myers Sales data set.

Calculate descriptive statistics: the mean, median, mode, and standard deviation in the two sample periods (January and July).

Discuss one of the following:

• What changes occurred in the Fort Myers housing market during the 6-month period?
• What conclusions can you draw from the data?
• What additional data might you want, to understand the housing market better?
• What role do descriptive statistics play in understanding the housing market?