Decision Making Project
This is an individual assignment. Each of you will do this on your own. The majority of the content should reflect original critical thinking. When you are asked for information that might be available in your textbook, do not copy it, even with a reference. You need to paraphrase whatever information you share. You may use quotations, but no more than 15% of the paper may be quoted. You will be using this for the remainder of the course.
For this project, you will create a company, and using the data on the right side of the page, you will identify a problem or opportunity that you would want to examine. This is your choice but it must make sense, given the data you’ve been provided with. If you have any questions about the suitability of a problem, please inquire prior to submitting the paper.
Write a 750-900 paper in which you address the following
1. Develop a narrative for your company (name, industry, size, location, etc.)
2. Identify a potential problem or opportunity based on the variables in the dataset (see link on right side of page). You’ll note that there is a Product A and a Product B. These can be tangible or intangible items (e.g., services), consumer or industrial. You have the ability to interpret this in any way that works for your narrative.
3. Identify the quantitative variables in the data set. Why are they quantitative?
4. Identify the qualitative variables in the data set. Why are they qualitative?
5. Calculate summary statistics for one quantitative variable of your choice (mean, median, mode, and standard deviation. Explain what each tells you.
6. Create a frequency table and a pie or bar chart for one qualitative variable of your choice. Explain what each tells you.
7. Name one other variable that might help you with developing a solution to the problem or realizing the opportunity.
8. How would you create a sample from which you could gather data?
9. What is sample bias? How could you eliminate it?
Format your assignment consistent with APA guidelines