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Posted: September 24th, 2022
Week 3 Assignment 1: The Foundation of Data-Driven Decisions
Week 3 Assignment 1: The Foundation of Data-Driven Decisions
Your goal for this assignment is to: Practice your problem solving skill by answering questions about statistical concepts and the benefits and uses of data-driven decision making.
Steps to Complete:
Answer the questions below in a Word document.
1. Explain the difference between descriptive and inferential statistical methods and give an example of how each could help you draw a conclusion in the real world.
2. You would like to determine whether eating before bed influences sleep patterns. List each step you would take to conduct a statistical study on this topic and explain what you would do to complete each step. Then, answer the questions below.
• What is your hypothesis on this issue?
• What type of data will you be looking for?
• What methods would you use to gather information?
• How would the results of the data influence decisions you might make about eating and sleeping?
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3. A company that sells tea and coffee claims that drinking two cups of green tea daily has been shown to increase mood and well-being. This claim is based on surveys asking customers to rate their mood on a scale of 1–10 after days they drink/do not drink different types of tea. Based on this information, answer the following questions:
• How would we know if this data is valid and reliable?
• What questions would you ask to find out more about the quality of the data?
• Why is it important to gather and report valid and reliable data?
4. Identify two examples of real-world problems that you have observed in your personal, academic, or professional life that could benefit from data driven solutions. Explain how you would use data/statistics and the steps you would take to analyze each problem. You may also choose topics below (or examples from the weekly content) to help support your response:
• Productivity at work.
• Financial decisions and budgeting.
• Health and nutrition.
• Political campaigns.
• Quality testing in products.
• Human resource policies.
• Algorithms for programming/coding.
• Accounting & financial policies.
• Crime reduction and trends.
• Environmental protection / Emergency preparedness.
5. How does analyzing data on these real-world problems aid in problem-solving and drawing conclusions? Be sure to note the value and benefits of data-driven decision-making.
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Week 3 Assignment 1: The Fundamentals of Data-Driven Decision Making
The purpose of this assignment is for you to practice problem solving by answering questions regarding statistical concepts and the benefits and applications of data-driven decision making.
Steps to Follow:
Fill out the following questions in a Word document.
1. Explain the difference between descriptive and inferential statistical methods and give an example of how each could help you draw a conclusion in the real world.
2. You would like to determine whether eating before bed influences sleep patterns. List each step you would take to conduct a statistical study on this topic and explain what you would do to complete each step. Then, answer the questions below.
• What is your hypothesis on this issue?
• What type
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