dentify and analyze a real-life, business application ofstatistics. The “business” can be a for-profit, non-profit, smallor large entity. The following are not acceptable topics:

• An application that uses descriptive statistics (i.e., graphs,percentages, measures of central tendency or dispersion)

You do not have to collect actual data from a business or applythe statistical procedure/calculate an answer.

Write a brief summary of the business context (e.g.,manufacturing, marketing, finance, etc.) including the name of thecompany or organization.

___________________________________________

Part B: Problem/Issue

State the business problem/issue to be addressed usingstatistics and why this problem/issue is important to thecompany/organization.

___________________________________________

Part C: Statistical Procedure

Explain the statistical procedure (NOTE: Focus on ONEstatistical procedure only)

1. Independent variable:

a) What is the variable:___________________________________________

b) How it is measured, i.e. what units or categories are used(e.g., revenue measured in “dollars”; height measured as “short,average, tall”) _______________________________

c) Level of measurement (nominal, ordinal, interval, or ratio):________________________________________

2. Dependent variable:

a) What is the variable:___________________________________________

b) How it is measured, i.e. what units or categories are used(e.g., revenue measured in “dollars”; height measured as “short,average, tall”) _______________________________

c) Level of measurement (nominal, ordinal, interval, or ratio):________________________________________

3. Name of the procedure/formula (e.g., ANOVA, Chi-Square,Hypothesis Test using z formula, Regression Analysis, etc.). NOTE:The procedure/ formula must be one that was covered in the course:___________________________________________

4. Describe the statistical rationale/justification for choosingthis procedure/formula:___________________________________________

5. Describe how the data are collected by thebusiness/organization:___________________________________________

6. Describe how the data are analyzed (i.e., identify the stepsin the statistical procedure):___________________________________________

Part D: Decision/Interpretation

Explain the type of business decision that thecompany/organization would make as a result of this statisticalanalysis.