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MATU 203 Brandman University Business Analysis of Home Sales Project

MATU 203 Brandman University Business Analysis of Home Sales Project

MATU 203 Brandman University Business Analysis of Home Sales Project

Question Description

MATU-203 Final Project InstructionsMastering the concepts in Introductory Statistics assists in building critical thinking skills, developingbusinesses and organizations, and solving all types of problems that require data. But an understandingof statistics extends beyond the ability to crunch numbers or use a software program. The ability tocollect, organize, and analyze data is the beginning. The ability to clearly communicate your resultsto another person is the mark of true mastery.The AssignmentIn this assignment, you will choose a scenario with data – from one of 5 options provided at the endof these directions under Project Topics – and you will construct a paper that pulls together thestatistics you have learned in order to answer a question. You will:1. Introduce the main question, and explain the data that you will use to address it2. Organize your data by providing appropriate charts, graphs and descriptive statistics3. Analyze your data by conducting a hypothesis test4. State your conclusions and recommendationsSee the section Outline Of Material To Present below for a more detailed explanation of what you willsubmit for each of these foursections.The topics that you may choose from are• Business – Analysis of Home Sales• Health Sciences – The Effect of Caffeine on Heart Rate• Psychology – The Effect of Colored Paper on Reading Speed• Sociology – Level of Education and its Effect on Homelessness in Veterans• Criminal Justice – Analysis of Poverty and CrimeAt the end of these directions, under Project Topics, are the full descriptions for each of these 5 topicoptions, including the data you must use in your analysis. Please scroll down and read through each ofthese 5 options in their entirety before making your selection. You must select one of these 5 topics.You may not select your own topic.Outline of Material to PresentThis assignment is broken down into four parts: Collection of Data, Organization of Data, Analysis ofData, and Conclusion/Recommendations. Each part has a subset of questions and issues you mustaddress. Please ensure that your report includes a section for each of the 4 Parts listed below, and thateach part addresses ALL of the sub-questions listed.Again, you must select one of the 5 topics provided at the end of these instructions in the sectionProject Topics, and you must use the data and names provided within your chosen topic prompt.Part 1: Collection of Data – Introduction and Primary Data Analysis(3 – 5 paragraphs):1. Describe the objective: Before you can examine the data, you must understand the problem.a. Discuss the importance of this issue or situation.b. Introduce the company or organization you are preparing this report for, and explainwhy it is important to them.c. What is the research question? In other words, what is the basic question you, as theresearcher, want to address? Why should we care about it?d. Was this an experimental or observational study? Explain.2. Clearly and with sufficient detail, describe the population, sample, and collection methods inthis study.a. What is the population you are interested in?b. What is the sample, specifically?c. What is a plausible way the sample was chosen and why?d. What problems or biases might have occurred from choosing that type of samplingmethod?3. Discuss the type of data.a. Was the data quantitative or qualitative? Explain.b. What is the level of measurement (nominal, ordinal, interval and ratio)? Explain.4. Describe the variablesa. What are the independent and dependent variables? Give the type, units, and morespecific information.b. Give examples of any confounding variables, lurking variables, and/or missing variablesand explain how they may be affecting your study.Part 2: Organization of Data – Examination of Descriptive Statistics (graphs and tables, andapproximately 4 paragraphs)Now that your data is collected, you need to organize it to identify characteristics and patterns.1. Graph your data appropriately. Construct a scatterplot, bar graph, or other graph to showthe nature of the data. For each graph, be sure you label the graph completely – that meansgive it a title, label the axes, and explain what that graph means in the context of thisnarrative.2. Discuss whether the data is normally distributed. For this, use a visual inspection of aHistogram and Normal Quantile Plot, as well as what you see in the data itself and what thatmeans about the high and low ends of the data.3. Calculate and present the three Measures of Central Tendency: mean, median, and mode.Provide both the value of the statistics as well as an analysis of what they mean in terms ofunderstanding the sample.4. Calculate and present the Measures of Variation: range and standard deviation. Provide boththe value of the statistics as well as an analysis of what they mean in terms of understandingthe sample.5. Calculate and present the 5-Number Summary: minimum, Q1, median, Q3, maximum.Provide both the value of the statistics as well as an analysis of what they mean in terms ofunderstanding the sample.6. Identify any Outliers. You can do this using a visual inspection of the graph as well as theformulas from the textbook (HINT: Q1 – 1.5*IQR, and Q3 + 1.5*IQR).7. Discuss any corrections: Based on your inspection of the outliers are there any errors thatshould be corrected? How would you correct them? Discuss the implications of this result.Part 3: Analysis of Data – Examination of Inferential Statistics (tables of results, and appropriatehypothesis test steps)Assuming that all assumptions have been met, it is now time to analyze the data. Present a completehypothesis test.1. Identify the claim.2. State the null and alternative hypotheses, in words and in symbolic form.3. Explain what type of test you will be performing (i.e. a test of two dependent means, a test forcorrelation, etc.) and why that test is appropriate to address the main question you are trying toanswer.4. Select the significance level and determine if it is a one or two-tailed test.5. Identify the test statistic and compute the value of the test statistic and the p-value.6. Make a decision of whether to Reject or Fail to Reject the null hypothesis.7. Restate your decision in nontechnical terms. That means, state your conclusion in a way thatanyone can understand; a final conclusion that just says “reject the null hypothesis” by itselfwithout explanation is not helpful to those who hired you. Explain in ordinary terms what itmeans.Part 4: Conclusion and Recommendations (approximately 3 paragraphs)Summarize and explain your results. Provide recommendations.1. What can you infer from the statistics?2. What information might lead you to a different conclusion?3. What variables are missing?4. What additional information would be valuable to help draw a more certain conclusion?5. What qualitative or quantitative data would you want to collect if you were hired to do a followup study?Formatting RequirementsYour paper should be a Word document, with embedded charts, graphs, figures, and tables. It shouldbe APA or MLA Format, with name and page number on each page, and should include each of thefollowing:1. Title page: You should have a cover page. The cover page should have the specific title of yourstudy (Note: “MATU 203 Paper” does not clearly define the topic you are presenting), yourname, Brandman University, MATU 203, term, and year. You might find it helpful to include animage of something representative of the study to provide a visual context for your report.2. Write Up/Body: The body should be 5 – 8 pages with graphs, images, screen shots of dataoutput, and text included. Please use a “page break” to separate the cover from the bodyand the references from the body and the appendices from the reference page.3. References: Please include all articles, books, websites, publications, or other informationthat helped you reach your conclusion. The references come after the main body and beforethe appendix. At least two references are required, not including the textbook.4. Appendices: You must have an appendix. The appendix goes at the end of your paper andmight be an additional 1-2 pages. In the appendix, include your given data as well assupplemental charts and graphs outside of the ones included in your paper. Label theappendices, Appendix 1, Appendix 2, and so on.

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