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1. MSL 5080-16F-4B20-S1, Methods of Analysis for Business Operations
2. Unit III

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MSL 5080-16F-4B20-S1, Methods of Analysis for Business Operations

• COURSE INFORMATION

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• Unit I
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• Unit III
• Unit IV
• Unit V
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Unit III

Content

• Unit 3 Introduction

  Hi Everyone, We are moving right along in the course. 

  Remember, I’m here to make you better and reach your goals in life.  I may push you a bit, but that is good. As my father told me “Nobody in life will give you anything, you need to earn it”.  Those were wise words; I set goals for myself, worked hard, and when I faced a set back (believe me I’ve had many), I regrouped, refocused and tried again.  I’m 57 yrs old and earned by doctorate degree at age 52.  So, it’s never to late.  Keep grinding the course out week by week.  If you need to talk to me please contact me.  I can certainly re-motivate you.  Continue to have good student processes by reviewing my weekly announcements from current and past. Past announcements clearly are there to give you insight on writing skills, APA, and CSU’s AIV policy.

  Part of nature’s dynamics in numbers and probability, as you may have already found out in practice, is that things tend to happen in a curve of probabilities, where the highest probabilities are clustered around a few values and possible events with values of lower probability taper off to each side of the cluster of most probable values.  These values may be continuous random variables (such as temperature records) or discrete random variables (as in number of cans of paint sold, because there will be no fractions of cans).  Events may be GO or NO-GO, Result 1 or Result 2 (e.g., heads or tails), and so be part of a binomial distribution.  If you have two variables affecting each other, you can try to determine their probabilities as an F-distribution with an F-distribution table.  Our advancements in the scientific practice of probability has been admirable, but if the calculations are extremely complex, you may want to re-think your organization’s assumptions.

  Unit 3 Objectives 

  Course Learning Outcomes for Unit III Upon completion of this unit, students should be able to:

  2. Distinguish between the approaches to determining probability.

  3. Contrast the major differences between the normal distribution and the exponential and Poisson distributions.

  Next week we will look at exponential and poisson distributions. 

• Unit III Study Guide

Click the link above to open the unit study guide, which contains this unit's lesson and reading assignment(s). This information is necessary in order to complete this course.

• Unit III Discussion Board

  Unit III Discussion Board Open

  • Weight: 2% of course grade
  • Grading Rubric
  • Response Due: Saturday, 02/08/2020 11:59 PM (CST)
  • Comment Due: Tuesday, 02/11/2020 11:59 PM (CST)

  Go to Unit III Discussion Board »

• Unit III Case Study

  Unit III Case Study Open

  • Weight: 10% of course grade
  • Grading Rubric
  • Due: Tuesday, 02/11/2020 11:59 PM (CST)

  Instructions

  Leaders of a local club want to focus on recruiting and looked through their recruiting and membership paperwork. They realized that over the past 30 years of annual open-house events, they spoke to four people who were interested enough in joining to take an application packet home. The historical probability P(X) that the interested prospective members would join is below.

  • 0 join: 0.1
  • 1 join: 0.2
  • 2 join: 0.4
  • 3 join: 0.2
  • 4 join: 0.1

  When they hold an open house this year, how many members (what is the expected value) should they anticipate joining?

  Explain your approach to determining the number of expected new members in a three-page response. Be sure to research sources to support your ideas, and integrate your sources using APA-formatted citations and matching reference lists. Additionally, use Times New Roman 12pt. double-spaced font. 

  Resources

  The following resource(s) may help you with this assignment.

  • Citation Guide
  • CSU Online Library Research Guide
  • Submit Math Center Request
  • Submit Writing Center Request

  Submit Unit III Case Study »

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