1. AN INTRODUCTION TO ANALYZING COMPANY WS NEW SNACK FORMULA MARK CARLSON P1IP1 MAY 26, 2008 Decision Making with Statistical Data

2. Introduction

• Business Statistics

• Qualitative Rating Examples

• Interval and Rational Data

• Population and Samples

3.

• Definition

• Variables/Attributes

• • Qualitative

• • Quantitative

• Levels of Measures

Business Statistics

4.

• • Nominal & Ordinal

• • Interval & Ratio

Levels of Measure

5. Nominal & Ordinal Rating Examples Nominal Ordinal Ordinal How does the chip taste? How do you rate the taste of bag A as compared to B? How appealing is the chip bag?

• Tangy

• Superior

• Ive got to try it!

• Salty

• Better

• It looks interesting.

• Cheesy

• About the same

• I can live with it.

• Sweet

• Not as good

• Its not too appealing.

• Plain

• Far inferior

• Gross!

6. Population and Samples

• Population

• • Examples

• Sample

• Bias

7. Conclusion

• Business Statistics

• Qualitative Rating Examples

• Interval and Rational Data

• Population and Samples

8. References

• Gibilisco, Stan. (2004). Statistics demystified. Retrieved May 25 from

• http://site.ebrary.com/lib/cecybrary/Doc?id=10089198&ppg=54

• Lind, D., Marchal, W., Wathen, S. (2008). Statistical techniques in business & economics. (13 ed.). New York, NY: McGraw-Hill Irwin.

• Kazmier, Leonard. (2003). Schaum's easy outline : Busines statistics. Retrieved May 5, 2008 from http://site.ebrary.com/lib/cecybrary/Doc?id=10045338&ppg=11

• Peddiniti, S. (2006). Ordinal data. Retrieved May 23, 2008 from http://www.isixsigma.com/dictionary/Ordinal_Data-1538.htm.

• Superville, Claude (2008). Live Chat Session: MGM600 4 47 0 . Retrieved May 24, 2008 from CTU Online, MGM600-0802B-04 : Applied Managerial Decision-Making.