Management professionals are often relied upon to make decisions regarding operational processes. Those who utilize a data-driven, structured approach have a clear advantage over those offering decisions based solely on intuition. Your task is to review the scenario found in your textbook on page 685-686, the supplemental case study document and the accompanying data set outline the appropriate analysis strategy; select a suitable statistical method; and use data analysis to ultimately drive the decision. Once this has been completed, you will be challenged to present your data, data analysis strategy, and overall decision in a concise report, justifying your analysis.
Specifically, the following critical elements must be addressed:
- Introduction to the problem:
Provide a concise description of the scenario that you will be analyzing. The following questions might help you describe the scenario: What is the type of organization identified in the scenario? What is the organizationâ€™s history and problem identified in the scenario?
- Create an analysis plan to guide your analysis and decision making: In this section you will review the data set to inform the statistical method that will be used. To inform your responses in this section, calculate the central tendency of the dependent variable, develop a histogram of the gift amount and develop scatterplots for the gift amount for each independent variable.
- Identify any quantifiable factors that may be affecting the performance of operational processes.
- Develop a single sentence problem statement that addresses the given problem in the scenario and contains quantifiable measures.
- Propose a strategy that addresses the problem of the organization in the given case study.
- Identify statistical methods to collect data:
- Identify the appropriate statistical methods that you will use to perform your analysis. What are your statistical assumptions concerning thedata that led you to selecting the methods? In other words, why did you select this method for statistical analysis?
- Justify why you chose these methods to analyze the data. Be sure to include how these methods will help predict the use of the data in drivingdecisions using cited evidence.
- Data-Driven Decisions to determine the appropriate decision for the identified problem:
- Outline the process needed to utilize your statistical analysis to reach a decision regarding the given problem.
- Explain how data mining is used to develop a solution to the case. In your response, consider the concepts of metadata.
- Explain if the problem is a structured or unstructured problem.
- Assess how the variables have potential for answering the problem.
- Recommend operational improvements to stakeholders after you have completed the calculations:
- Demonstrate a data-driven calculation that addresses the given problem statement.
- Summarize results of the analysis plan. In your response, be sure to explain the validity of the model solution.
C. Explain how the model solution addresses the given problem statement.
Final Project Submission: Statistical Analysis Report
In Module Nine, you will submit your statistical analysis report and recommendations. It should be a complete, polished artifact containing all of the critical elements of the final product. It should reflect the incorporation of feedback gained throughout the course. This submission will be graded with the Final Project Rubric.
Final Project Rubric
Guidelines for Submission: Your statistical analysis report must be 5-6 pages in length (plus a cover page and references) and must be written in APA format. Use double spacing, 12-point Times New Roman font, and one-inch margins. Include at least six references cited in APA format.