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Review the chapter readings of this week and reflect the following concepts:

  • What is the sampling distribution of the population variance and what are the properties of this distribution?
  • What is the alternative of the z statistic for normally distributed populations which eliminates some limitations of the central limit theorem and what are the properties of this distribution?
  • Respond:
  • Sampling distribution of the population variance is obtained by population variance divided by the sample size. The sample size implies the number of scores applicable in calculating the mean (Zikmund et al., 2013). The smaller the sample size, the larger the variance of the mean of the sampling distribution. The sampling distribution of the population variance is based on three statistical groupings that determine the appropriate statistical technique applicable. The groups are univariate, bivariate, and multivariate statistical analyses. Univariate statistical analyses tests involve one variable, bivariate involves two variables and multivariate analysis tests involve more than two variables (Zikmund et al., 2013).
    The alternative of Z statistics is t statistics. In t-statistics, a univariate t-test is conducted for testing a hypothesis containing a particularly observed mean against a specific value. Like the standardized normal curve, t-distribution is a distribution with a standard deviation of 1.0 and a mean of 0 represented symmetrically in a bell-like shape. For a larger sample size, say 30 and above, the values obtained from z-distribution and t-distribution are similar. The t-distribution is characterized by the following critical aspects; first, the distribution applies to comparisons involving ratio measures or the mean of an interval. Secondly, the population size must not exceed 30 for the values to be distinct and different from those of Z-statistics. Thirdly, the symmetrical bell-shaped distribution in t-statistics is determined by degrees of freedom (df). The degree of freedom is obtained by subtracting assumptions or the number of constraints needed to compute a statistical term from the total number of observations. Unlike bivariate and multivariate t-tests, the degrees of freedom (df) in univariate analysis tests are equal to the sample size minus one (Zikmund et al., 2013).

    Reference
    Zikmund, W. G., Babin, B. J., Carr, J. C., & Griffin, M. (2013). Business Research Methods. (9th ed.). Cengage Learning. 


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Chapter 6. Multiple-Criteria Methods for Evaluation and Group Decision Making

Initial Postings: Read and reflect on the assigned readings for the week. Then post what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding in each assigned textbook chapter.Your initial post should be based upon the assigned reading for the week, so the textbook should be a source listed in your reference section and cited within the body of the text. Other sources are not required but feel free to use them if they aid in your discussion.

Also, provide a graduate-level response to each of the following questions:

  1. What experiences have you had with group decision making? What difficulties do you see arising when trying to perform a multiple-criteria analysis with many interested parties involved? How might these difficulties be overcome, or at least mitigated?
  2. In conducting a group study using a multiple-criteria method, you reach a point at which two of the participants cannot agree on a particular response. What course of action would you take to placate the parties and avoid further delay?

2)350 words

Chapter 11: Project Risk Knowledge Management

Chapter 12: Cultural Shaping of Risk

Initial Postings: Read and reflect on the assigned readings for the week. Then post what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding in each assigned textbook chapter.Your initial post should be based upon the assigned reading for the week, so the textbook should be a source listed in your reference section and cited within the body of the text. Other sources are not required but feel free to use them if they aid in your discussion.

Also, provide a graduate-level response to each of the following questions:

Risk concerns both positive and negative aspects of a possible event. For example, when the covid 19 crisis took place this offered an unexpected business advantages or new product for certain organizations – a positive risk came to volition for that organization.  For example, when the covid 19 crisis took place this offered an unexpected negative risk, no one would come to your movie theatre, to come to volition for some organizations.  

  1. How should an organization prepare for either type of event?
  2. How should a business avoid negative events occuring and enahnce opportunity for positive events?
  3. Explain the concept of a Pereto Chart – provide an example – explain how the concept of the Pereto Chart might be used in making decisioins about handling negative risks which could impact a project or organization.

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