Selecting Appropriate Inferential Techniques

Prepare a 3-4 page business analysis in which you analyze a business issue or situation and justify the selection of an inferential method to address the issue or situation.

Introduction

This portfolio work project will give you experience working with large quantities of data, thinking critically about inferential statistics techniques, and being able to determine which technique is preferable for specific situations.

Scenario and Your Role

You are an analyst at a new moving company. Executive leadership is trying to determine in which state to headquarter the new business. Obviously, they are interested in setting up the headquarters in a state that has the potential for significant business. In other words, they want a location where there are a lot of people moving in and out of the state.

Your manager has asked you to begin the research process by comparing your current state of residence to another state (of your choice) and then make a recommendation based on your findings.

Requirements

Download the Population estimates for the U.S., States, and counties data set from the Economic Research Service, linked below:

• U.S. Department of Agriculture, Economic Research Service. (2017). Download data: County-level data sets. Retrieved from https://www.ers.usda.gov/data-products/county-leve…

Analyze the county-level population changes in your current state and another state of your choice. Once you have analyzed this data, prepare a business analysis for your manager.

In your analysis, include the following:

• Analyze the business issue you are addressing.
  • Explain the business situation as you understand it.
  • Identify relevant data (observations and variables) that you will use to address the situation.
• Justify your selection of an inferential method to address the business issue.
  • Explain the inference you wish to make. (Hint: You can estimate, test, or predict. If your selected inference is a prediction, identify what you are trying to predict and what you are basing your prediction on. If your selected inference is an estimate, identify what you are trying to estimate. If your selected inference is a test, identify the claim you are attempting to test.)
  • Identify the inferential statistical technique that would be the best tool to use for your selected prediction, estimate, or test.
  • Explain why you believe this would be the best tool for the situation. (Please note that you are not required to compute anything, simply to identify the best tool and explain why.)
  • Provide examples from your experience and/or from your research to support your selection of inferential statistical technique.

You may wish to use the following as your work on your assessment:

• Assessment 2 Sample.
• Assessment 2 Template.

Deliverable Format

This business analysis is a professional document and should therefore follow the corresponding MBA Academic and Professional Document Guidelines (available in the MBA Program Resources), using double-spaced paragraphs. Remember, you are writing for an executive leadership audience.

In addition, include the following:

• 3–4 pages in length.
• Title page.
• References page.
• References from at least 2 sources.
• APA-formatted references.

Evaluation

By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies through corresponding scoring guide criteria:

• Competency 1: Explain how data management techniques and tools are used to support business decisions.
  • Analyze a business situation.
• Competency 2: Use analytic and statistical techniques to make meaning of large quantities of data.
  • Justify the selection of an inferential method to address a business situation.
• Competency 4: Present the results of data analysis in clear and meaningful ways to multiple stakeholders.
  • Correctly format citations and references using current APA style.
  • Write content clearly and logically with correct use of grammar, punctuation, and mechanics.

Faculty will use the scoring guide to review your deliverable as if they were your manager. Review the scoring guide prior to developing and submitting your assessment.

Criteria	Non-performance	Basic	Proficient	Distinguished
Analyze a business situation.	Does not analyze a business situation.	Identifies a business situation.	Analyzes a business situation.	Analyzes a business situation in a manner that demonstrates a clear and thorough understanding of the situation and the data needed to address the situation.
Justify the selection of an inferential method to address a business situation.	Does not select an inferential method to address a business situation.	Selects an inferential method to address a business situation but does not justify the selection, or the justification is not supported with evidence.	Justifies the selection of an inferential method to address a business situation.	Justifies the selection of an inferential method to address a business situation using clear explanations and providing examples.
Correctly format citations and references using current APA style.	Does not correctly format citations and references using current APA style.	Uses current APA to format citations and references but with numerous errors.	Correctly formats citations and references using current APA style with few errors.	Correctly formats citations and references using current APA style with no errors.
Write content clearly and logically with correct use of grammar, punctuation, and mechanics.	Does not write content clearly, logically, or with correct use of grammar, punctuation, and mechanics.	Writes with errors in clarity, logic, grammar, punctuation, and/or mechanics.	Writes content clearly and logically with correct use of grammar, punctuation, and mechanics.	Writes clearly and logically with correct use of spelling, grammar, punctuation, and mechanics; uses relevant evidence to support a central idea.