Eco/85
Jambo
eco_85.rtfECO 510 Module Six Critical I !I,nking Guidelines and Rubric
Suppose you are a consultant to a fast food chain. The fast food chain is interested in measuring the population variance in the number of customers it has on a daily basis in all its stores in the u.S. However, it is limited in its ability to track this number across all stores and has to select a sample. Think critically about the following questions:
1. There are two estimators for the population variance with different levels of bias and variance. Explain how you would go about choosing between these two estimators.
2. You are interested in coming up with a 95 confidence interval for the population variance. How would you go about deciding the number of outlets to sample?
Guidelines for Submission: Your response should one to two pages in length with double spacing, 12-point Times New Roman font, one-inch margins, and APA citations.
Instructor Feedback: This activity uses an integrated rubric in Blackboard. Students can view instructor feedback in the Grade Center. For more information, review t!l('c,( invt PH uon: •.
Critical Elements
Exemplary
Proficient
Needs Improvement
Not Evident
Value
Identification of
Correctly identifies both
Identifies only one estimator for
Does not identify any
10
Estimators for
estimators for population
population variance correctly
estimators for population
Population Variance
variance
variance
70
100
0
Explanation of Choice
Submission meets "Proficient"
Clearly explains reasoning for
Attempts to explain why the
Does not present an
35
of Estimator
and includes examples to
the estimator selected
particular estimator was
explanation for the choice of
support explanation
selected, but is not clear
estimator
90
100
70
0
Explanation of Outlet
Submission meets "Proficient"
Clearly explains decision for the
Attempts to explain the
Does not explain the decision
35
Sample Decision
and includes examples to
number of outlets to sample
decision for the number of
for the number of outlets to
support explanation
outlets to sample, but is not
sample
90
clear
100
0
70
Course Vocabulary
Meets "Proficient" and
Applies vocabulary for the
Uses some vocabulary or
Does not include economic
10
integrates the course
economic topic throughout case
phrases, but not in the context
vocabulary
vocabulary into all aspects of
study
of the questions
the case study
0
90
70
.-- --
.--
100
Articulation of
Submission is free of errors
Submission has no major errors
Submission has major errors
Submission has critical errors
10
Response
related to grammar, spelling,
related to grammar, spelling,
related to grammar, spelling,
related to grammar, spelling,
syntax, and organization and is
syntax, or organization
syntax, or organization that
syntax, or organization that
presented in a professional and
negatively impact readability
prevent understanding of ideas
easy-to-read format
90
and articulation of main ideas
0
100
70
Earned Total
100
~-
------- ----------
-------
---- -------
-- --- -----
~--
