QNT/351 ~ WK1 DQ#1 & DQ#2: INSTRUCTORâ€™S RESPONSE QUESTIONS: - 7985

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QNT/351 ~ WK1 DQ#1 & DQ#2: INSTRUCTOR’S RESPONSE QUESTIONS:

(Min. 100 Word Response Each) Provide a good dialog, which should include answering any questions, provide specific examples, thoughts, opinions, unique perspectives, expanding on the response with additional information, etc)

1.      RESPONSE QUESTION #4:

When have you used inferential reasoning in your career? What are some of the weakness in your inferential conclusions?

2.      DQ#1 INSTRUCTOR’S RESPONSE QUESTION #5 (Stats = Daily Activities):

Instructor’s Response to Original DQ1 Post:

“The text book also describes Statistics as "The science of collecting, organizing, presenting, analyzing, and interpreting data to assist in making more effective decisions." The idea of calling it a science distinguishes it as a separate field of mathematics.

One of the things I like about statistics is that is uses a logical pattern to confirm or change pre-conceived notions about trends, populations, or phenomenon. Early in my career as a marketing analyst, I was asked to research if Product Videos were beneficial for the retail company I worked for. I had to learn a lot about important web metrics like click through rate, abandonment rates and so on, but in the end I found that product videos did not lead to any noticeable increase in sales of those products.  This countered what I thought. I thought for sure that it would, but unfortunately the data did not support it.  It's quite possible that I missed some other way of measure success, like the intangible benefit of customers looking to your site to learn about different products (how do you measure that?). Upon turning it into the VP of marketing, he said "thanks but my gut tells my you wrong, and I'm going to get more product videos."

Even if I was wrong the research may have pointed the company to realize that they need to measure success of web applications differently than just bottom line sales as a direct affect of product videos.”

QUESTION:
In your current position, where do you see an opportunity where statistics could influence your daily activities or company performance? Meaning, what is something that you would like to confirm or reject with numbers so that others supported a change (or not a change)?

3.      INSTRUCTOR’S RESPONSE QUESTION TO DQ#2: Continuous vs. Discrete:

“Class,

In Chart 1-2 the book illustrates other variable types, classifying primarily as either qualitative or quantitative. In the Quantitative side it then splits the variables into Discrete and Continuous. These become very important in inferential statistics, which we will touch on briefly at the end of the course. Please explain the difference between discrete and continuous variables, and provide an example of each.”

Solution Description

QNT/351 ~ WK1 DQ#1 & DQ#2: INSTRUCTOR’S RESPONSE QUESTIONS:

(Min. 100 Word Response Each) Provide a good dialog, which should include answering any questions, provide specific examples, thoughts, opinions, unique perspectives, expanding on the response with additional information, etc)

1.      RESPONSE QUESTION #4:

When have you used inferential reasoning in your career? What are some of the weakness in your inferential conclusions?