7/7/2016 Assessment 1 - MBAFP6018 Spring 2016 Section 01 ASSESSMENT 1 Descriptive Statistics Details Attempt 1 Available Attempt 2 Attempt 3 Overview Use a provided data file to create a table, a histogram, and a scatter plot in response to a given scenario. Write a brief report that details your findings and recommendations. Note: The assessments in this course build upon each other, so you are strongly encouraged to complete them in sequence. This assessment allows you to demonstrate practical application of the techniques used to generate and present descriptive statistics. By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria: Competency 1: Evaluate the quality and fit of data for use in business analysis. Create a table for examining data for use in business analysis. Apply descriptive statistics techniques to accurately compute mean, median, mode, range, and standard deviation. Competency 2: Analyze business decision opportunities using descriptive statistics. Analyze data in a prepared histogram to use in decision making. Analyze data in a scatter plot to use in decision making. Competency 5: Apply data analysis to general business management planning and decision making. Compile findings into a management report with details for recommended actions. Competency 6: Communicate in a manner that is professional and consistent with expectations for members of the business professions. Communicate in a manner that is professional and consistent with expectations for members of the business professions. Competency Map Check Your ProgressUse this online tool to track your performance and progress through your course. Context Throughout this course, you will research basic statistical concepts as well as how to perform descriptive statistics and how to interpret them. Managers make sense of data by using graphing techniques, and graph analyses are useful in making better business decisions. It is important to be able to demonstrate how managers transform data into useful information for making managerial decisions. Questions to Consider To deepen your understanding, you are encouraged to consider the questions below and discuss them https://courserooma.capella.edu/webapps/blackboard/content/listContent.jsp?course_id=_34646_1&content_id=_3445789_1&mode=reset 1/5 7/7/2016 Assessment 1 - MBAFP6018 Spring 2016 Section 01 with a fellow learner, a work associate, an interested friend, or a member of the business community. Suppose that you are a real estate agent in Florida, working with a retired couple from out of state. They are considering purchasing a retirement home in Boca Raton, as they wish to be near family members in Delray Beach. In order to make informed decisions about buying a house, they first need to understand the Boca real estate market. What home parameters (price mean, price mode, home size mean, home size mode, and so on) would be most useful (or descriptive) in giving your potential clients an understanding of the Boca market? Resources Required Resources The following resources are required to complete the assessment. Capella Resources Click the links provided to view the following resources: Florida Pool Home Data. Suggested Resources The following optional resources are provided to support you in completing the assessment or to provide a helpful context. For additional resources, refer to the Research Resources and Supplemental Resources in the left navigation menu of your courseroom. Capella Resources Capella University partners with Sophia Learning to provide tutorials and other learning resources online. Sophia tutorials that explore statistical topics related to the assessments will be recommended for your study throughout this course. You may already be familiar with some of the topics addressed in these tutorials. However, you will find that the tutorials build gradually into more complex subjects as the course progresses. You are encouraged to view all of the tutorials that are listed, to refresh yourself on the basics and build your knowledge from a solid foundation. For this assessment, you are encouraged to study the following Sophia tutorials: Thielen, Z. (Producer). (n.d.). Mean [Video] | Transcript. Retrieved from http://www.sophia.org/tutorials/mean 5 This tutorial defines the mean, or average, of a data set. Coletta, C. (Producer). (n.d.). Variance [Video] | Transcript. Retrieved from http://www.sophia.org/tutorials/variance5 This tutorial defines variance and the role it plays in a data set. Shaw, C. (Producer). (n.d.). Frequency distribution [Video] | Transcript. Retrieved from http://www.sophia.org/frequencydistributiontutorial The tutorial contains several multimedia elements that you are encouraged to view. Brebeuf, C. (Producer). (n.d.). Excel XY scatter plot graph [Video] | Transcript. Retrieved from http://www.sophia.org/excelxyscatterplotgraphtutorial This tutorial explains how to create an XY scatter plot graph in Microsoft Excel. Capella Multimedia Click the link provided below to view the following multimedia piece: Standard Deviation | Transcript. This tutorial illustrates data spread. https://courserooma.capella.edu/webapps/blackboard/content/listContent.jsp?course_id=_34646_1&content_id=_3445789_1&mode=reset 2/5 7/7/2016 Assessment 1 - MBAFP6018 Spring 2016 Section 01 Course Library Guide A Capella University library guide has been created specifically for your use in this course. You are encouraged to refer to the resources in the MBAFP6018 - Data Analysis for Business Decisions Library Guide to help direct your research. Data Analysis Software For your assessments in this course, you will need to complete statistical calculations, graphically produce an output, and copy your graphical results into a Word document for submission. You may use the statistical application of your choosing however, the final results must meet the requirements of the assessments. Several options are listed below. SAS Enterprise Guide: Access to this software is free to Capella learners taking this course. SAS is one of the most commonly used statistical analysis tools in business. To have free access to this software, you must first register with SAS using the following steps: Register with your Capella email address by clicking the SAS On Demand for Academics Control Center link. After registering and receiving your login ID and password, click the Course Enrollment link provided to you by Capella faculty to access the SAS MBAFP6018 courseroom. Log in using your ID and password. Click the Enroll button to enter the course and download SAS Enterprise Guide. You only need to access the SAS website to download the SAS Enterprise Guide software. If you have problems with the download procedure, first consult the Capella faculty to determine if you have a hardware compatibility problem. If you are having problems navigating the SAS website, contact SAS Customer Support. View the Getting Started With SAS Enterprise Guide video for an overview of the basics of the software. Microsoft Excel Analysis ToolPak Activation for PC Users: The Microsoft Excel Analysis ToolPak is a specialized Excel addin included in the standard Microsoft Office suite. If your Excel software meets the standard Capella University Computer Requirements, you will not need to purchase this software. However, you may need to activate the application before you can use it. Use the Load the Analysis ToolPak instructions from Microsoft's support site for stepbystep installation instructions. These instructions are designed for Microsoft Excel 2013. If you are using a different version, you can search the Microsoft Office website for versionspecific activation instructions. Use the following search terms: Excel analysis ToolPak activation instructions (your version). StatPlus:mac LE Download for Mac Users: StatPlus:mac is a statistical software tool from AnalystSoft, which is compatible with Excel 2008 and 2011. If you use a Mac and you do not already have this software installed, you can download a 30day free trial version from AnalystSoft's StatPlus:mac LE page. IBM SPSS Statistics Standard GradPack (Version 20 or higher for Windows or Mac): SPSS statistical analysis software is commonly used in business applications. As a Capella learner, you can receive a discount on this software follow the SPSS Statistics Premium GradPack instructions. Internet Resources Access the following resources by clicking the links provided. Please note that URLs change frequently. Permissions for the following links have been either granted or deemed appropriate for educational use at the time of course publication. StatisticsLectures.com. (n.d.). Retrieved from http://statisticslectures.com/ This website offers resources that cover many topics in statistics, including presentations that illustrate how to use software to implement statistical methods. Khan Academy. (n.d.). Retrieved from https://www.khanacademy.org https://courserooma.capella.edu/webapps/blackboard/content/listContent.jsp?course_id=_34646_1&content_id=_3445789_1&mode=reset 3/5 7/7/2016 Assessment 1 - MBAFP6018 Spring 2016 Section 01 This site offers resources covering a range of subjects, including statistics. Bookstore Resources The resources listed below are relevant to the topics and assessments in this course and are not required. Unless noted otherwise, these materials are available for purchase from the Capella University Bookstore. When searching the bookstore, be sure to look for the Course ID with the specific -FP (FlexPath) course designation. Bowerman, B., O'Connell, R., & Murphree, E. (2014). Business statistics in practice (7th ed.). New York, NY: McGraw Hill. Salkind, N. J. (Ed.). (2013). Excel statistics: A quick guide (2nd ed.). Thousand Oaks, CA: Sage. Other Books The resources listed below are relevant to the topics and assessments in this course and are not required. You may wish to purchase the following optional books from your preferred bookseller: Slaughter, S. J., & Delwiche, L. D. (2010). The little SAS book for Enterprise Guide 4.2. Cary, NC: SAS Institute. Assessment Instructions Use the Florida Pool Home Data file, linked in the Resources under the Required Resources heading, to complete the calculations for the following scenario. You are also encouraged to use one of the statistical applications, such as SAS Enterprise Guide or the Microsoft Excel Analysis ToolPak, suggested in this course. Refer to the instructions in the Resources to activate or download the software. Practical Application Scenario Suppose you are a real estate agent living and working in southern Florida. The senior real estate partner of your firm emails you the Florida Pool Home Data file and asks you to find ways to use data to describe the most important aspects of home sales. The Florida Pool Home Data file contains the data for 80 properties, including each home's price, size, number of bathrooms, and niceness rating and whether the home has a pool. Directions Use the scenario above and the Florida Pool Home Data file to complete the following: 1. Create a table in which you calculate the mean, median, range, and standard deviation of home price and size. Then, calculate the mode for the number of bathrooms. Label this table as "Mean, Median, Range, Standard Deviation, and Mode Results." 2. Produce a histogram that shows the number of houses by price range, in increments of $50,000 (for example: $0- $50,000, $50,001-$100,000, and so on). Label this histogram as "Home Price Range Histogram." 3. Produce a scatter plot showing the relationship between price and home size. Under your scatter plot, indicate whether the relationship is positive or negative as well as whether the results are what you expected. Label this scatter plot as "Price and Size Scatter Plot." 4. Write a report for the senior real estate partner that details your findings and recommendations about the most important aspects of home sales. Additional Requirements Compile all of your answers and your report in a single Microsoft Word file: Paste in the table and graphics you created to demonstrate your work. Clearly title your table and graphics, including each row and column. (For example, for the table in question 1, you might use the following labeling: Row 1, Column B contains the "Mean of Home Selling Prices" Row 1, Column C contains the "Mean of Home Size in Square Feet" and so on.) Highlight the results of your data calculations within each table or graphic. Descriptive Statistics Scoring Guide https://courserooma.capella.edu/webapps/blackboard/content/listContent.jsp?course_id=_34646_1&content_id=_3445789_1&mode=reset 4/5 7/7/2016 Assessment 1 - MBAFP6018 Spring 2016 Section 01 Descriptive Statistics Scoring Guide View Scoring Guide Use the scoring guide to enhance your learning. How to use the scoring guide [U01a1] Descriptive Statistics Use a provided data file to create a table, a histogram, and a scatter plot in response to a given scenario. Write a brief report that details your findings and recommendations. Submit Assessment This button will take you to the next available assessment attempt tab, where you will be able to submit your assessment. U01a1: Descriptive Statistics >> View/Complete U01a1: Descriptive Statistics: Revision 1 >> View/Complete U01a1: Descriptive Statistics: Revision 2 >> View/Complete https://courserooma.capella.edu/webapps/blackboard/content/listContent.jsp?course_id=_34646_1&content_id=_3445789_1&mode=reset 5/5 Problem 1 Mean, Median, Range, Standard Deviation, and Mode Results Size (Square Feet) Price ($1000s) Home Mean Median Range Standard Deviation 253.3 249.7 177.4 37.2128625298 Number of Bathrooms 2812.5125 2.675 4 0.5375 2799 2.5 4 1 1453 2 6 1 290.45037 0.4910593045 1.925018494 0.501737 2666, 2761, 290.8 2895, 2945 Mode Pool? (yes=1; no=0) Niceness Rating 2.5 2 1 Problem 2 Bin Home Price Range Histogam Frequency 50 100 150 151-200 201-250 251-300 301-350 0 0 0 40 35 30 6 25 35 20 30 400 More 15 9 0 0 10 5 0 Problem 3 Price and Size Scatter Plot 4000 3500 3000 2500 Column C Price 2000 1500 1000 500 0 150.0 200.0 250.0 Size 300.0 350.0 400.0 2500 Column C Price 2000 1500 1000 500 0 150.0 200.0 250.0 Size The Relationship is positive 300.0 350.0 400.0 e Histogam NaN Florida Pool Home Data Home 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 Number Size Pool? Price Nicenes of (Square (yes=1; ($1000s) Bathroo s Rating Feet) no=0) ms 260.9 2666 2.5 7 0 337.3 3418 3.5 6 1 268.4 2945 2.0 5 1 242.2 2942 2.5 3 1 255.2 2798 3.0 3 1 205.7 2210 2.5 2 0 249.5 2209 2.0 7 0 193.6 2465 2.5 1 0 242.7 2955 2.0 4 1 244.5 2722 2.5 5 0 184.2 2590 2.5 1 0 325.7 3138 3.5 7 1 266.1 2713 2.0 7 0 166.0 2284 2.5 2 0 330.7 3140 3.5 6 1 289.1 3205 2.5 3 1 268.8 2721 2.5 5 1 276.7 3245 2.5 2 1 222.4 2464 3.0 3 1 241.5 2993 2.5 1 0 307.9 2647 3.5 6 1 223.5 2670 2.5 4 0 231.1 2895 2.5 3 0 216.5 2643 2.5 3 0 205.5 2915 2.0 1 0 258.3 2800 3.5 2 1 227.6 2557 2.5 3 1 255.4 2805 2.0 3 1 235.7 2878 2.5 4 0 285.1 2795 3.0 7 1 284.8 2748 2.5 7 1 193.7 2256 2.5 2 0 247.5 2659 2.5 2 1 274.8 3241 3.5 4 1 264.4 3166 3.0 3 1 204.1 2466 2.0 4 0 273.9 2945 2.5 5 1 238.5 2727 3.0 1 1 274.4 3141 4.0 4 1 259.6 2552 2.0 7 1 285.6 2761 3.0 6 1 216.1 2880 2.5 2 0 261.3 3426 3.0 1 1 236.4 2895 2.5 2 1 267.5 2726 3.0 7 0 220.2 2930 2.5 2 0 300.1 3013 2.5 6 1 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 260.0 277.5 274.9 259.8 235.0 191.4 228.5 266.6 233.0 343.4 334.0 289.7 228.4 233.4 275.7 290.8 230.8 310.1 247.9 249.9 220.5 226.2 313.7 210.1 244.9 235.8 263.2 280.2 290.8 235.4 190.3 234.4 238.7 2675 2874 2765 3020 2887 2032 2698 2847 2639 3431 3485 2991 2482 2712 3103 3124 2906 3398 3028 2761 2842 2666 2744 2508 2480 2986 2753 2522 2808 2616 2603 2804 2851 2.0 3.5 2.5 3.5 2.5 2.0 2.5 3.0 3.0 4.0 3.5 2.5 2.5 2.5 2.5 2.5 2.5 4.0 3.0 2.0 3.0 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 6 4 2 2 1 3 4 2 3 5 5 6 2 1 2 3 2 4 4 5 3 6 7 4 5 4 7 6 7 3 2 4 5 0 1 1 1 1 0 0 1 0 1 1 1 0 1 1 1 0 1 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0