RES 341 Week 4 Discussion Question 1

Why is the population shape a concern when estimating a mean? What effect does sample size, n, have on the estimate of the mean?

Is it possible to normalize the data when the population shape has a known skew?

Define and discuss confidence intervals.  Why are estimations and confidence intervals important?  How can you use confidence intervals to establish statistical significance and/or lack of statistical significance?

How does the student’s t distribution compare to the normal z distribution?  When do you use the student's t-test and when do you use the Z-test?

How can organizations be encouraged to adopt higher ethical standards?

In your opinion, who or what entity should be responsible for encouraging and maintaining higher standards?

A stakeholder is an individuals or groups who have a stake in what the organization does or how it performs.  A stakeholder profits or losses from the actions that a company makes.  Ch. 8 of Managing Business Ethics (Trevino & Nelson, 2007) separates stakeholders into four major stakeholder groups. How do you define stakeholders?