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Deliverable 3 – Confidence Intervals
Competency
Given a real-life application, develop a confidence interval for a population parameter and its interpretation.
Instructions
Scenario (Information repeated for deliverable 01, 03, and 04)
A major client of your company is interested in the salary distributions of jobs in the state of Minnesota that range from $25,000 to $200,000 per year. As a Business Analyst, your boss asks you to research and analyze the salary distributions. You are given a spreadsheet that contains the following information:
- A listing of the jobs by title
- The salary (in dollars) for each job
You have previously explained some of the basic statistics to your client already, and he really liked your work. Now he wants you to analyze the confidence intervals.
Background information on the Data
The data set in the spreadsheet consists of 364 records that you will be analyzing from the Bureau of Labor Statistics. The data set contains a listing of several jobs titles with yearly salaries ranging from approximately $25,000 to $200,000 for the state of Minnesota.
What to Submit
Your research and analysis should be presented on the Word document provided. All calculations and work should be provided on a separate Excel workbook that should be submitted to your boss as well.
MGMT 600 Business Planning Seminar – DeVry (Entire Course Week 1 – 8)
| Week, TCOs, and Topics | Readings and Class Preparation | Activities and Assignments |
| Week 1 TCOs A, B, CThe Beginning | Chapter 1: Starting the Process Chapter 2: Getting Your Plan Started Chapter 22: Time-Saving Tips | Assignment:Select teamsTeam charter (includes Business Plan topic) due |
| Week 2 TCO CThe Problem and Answer | Chapter 2: Getting Your Plan Started Chapter 3: Making Your Plan Compelling Chapter 5: Company Description | Assignment:Research of the week: The Problem & AnswerCreate mission, vision, and values statementIndividual assignment due |
| Week 3 TCO CIndustry Analysis | Chapter 6: Industry Analysis & Trends Chapter 8: The Competition Chapter 9: Strategic Position & Risk Assessment | Assignment:Research of the Week: The Marketing PlanIndustry Analysis due |
| Week 4 TCOs B, FThe Marketing Plan | Chapter 7: Target Market Chapter 10: Marketing Plan & Sales Strategy Chapter 14: Social Responsibility & Sustainability | Assignment:Research of the week: the Operations PlanMarketing Plan due |
| Week 5 TCOs E, G, JThe Operations Plan | Chapter 11: Operations Chapter 12: Technology Plan Chapter 13: Management & Organization | Assignment:Research of the Week: the Financial PlanOperations Plan due |
| Week 6 TCOs H, I, JThe Financial Plan | Chapter 16: The Financials Chapter 19: Looking for Money | Polish work completed to date Financial Plan due |
| Week 7 TCOs A, DThe Pitch | Chapter 4: The Executive Summary Chapter 15: Development, Milestones & Exit Plan Chapter 17: The Plan’s Appendix Chapter 18: Preparing, Presenting & Sending Out Your Plan | Assignment:Create exit strategies for Business PlanPrepare and practice PresentationCreate Executive Summary |
| Week 8 All TCOs/TopicsThe Finish | None | Assignment:Present the Business PlanFinal Business Plan due Submit Peer Review |
Ethical Decision Making ( Due 10/11)
Note: All character and company names are fictional and are not intended to depict any actual person or business.
View Problem Scenario A to learn more about Bill and Joe’s relationship.
Joe has scheduled a meeting with his management team for next week to talk about the Peninsula Hotel chain contract. He hopes that he will be able to work with them to draft a contract favorable to Peninsula that will ensure its renewal for another year. He is reasonably sure that the contract renewal will ensure his continued success and employment with UWEAR.
On his way out of the office today, Joe receives a call from Bill.
Bill: “Joe, how are you doing? Got any great plans for the weekend?”
Joe: “No, my wife and I are just planning on hanging out at home and relaxing. How about you?”
Bill: “My family and I are planning a short trip on the yacht. We haven’t been out in a while, and the weather looks perfect. Maybe you and your wife could join us? We haven’t seen you guys in quite a while, and it will be good to catch up.”
Joe is relieved to get the invitation from Bill because their relationship has been strained lately because of the contract negotiations.
Joe must decide how he will answer Bill’s invitation to join him and his family on their yacht. Complete the following in a paper of 500–700 words, excluding cover and reference pages.
Part I:
Address the following:
- Apply the rational choice model to arrive at your recommendation for Joe regarding his response to the invitation to spend the weekend on Bill’s yacht.
- In what ways do you agree or disagree with the result of applying the rational choice model?
Part II:
- What ethical theory supports the response to this invitation that you recommend to Joe?
- Why would you use this theory?
- What is an alternative recommendation, applying a different ethical theory?
- Compare and contrast your recommendation with the alternative.