How may variance and standard deviation be applied to a real-world business-related problem? Provide a specific application in which these measures are useful.
When would you use Chebyshev's theorem and the empirical rule in business? How are they calculated? Provide one real-life example that requires Chebyshev's theorem and one that requires the empirical rule.
What are some examples of operational definitions in research design within your profession? For example, in the education field, graduation rate and retention rate are important operational definitions to measure progress of students. Likewise other professions have common metrics and definitions. Identify some metrics and operational definitions from your own career or a profession that you know well. Tell us why you think it is important!
What is the purpose of sampling? What are some concerns and dangers of sampling? How important is the sample design to data validity? Explain. Provide an example where a sample might misrepresent data validity. For example, reflect on the current political campaign and the pollsters!
In your organization's management development program, there was a heated discussion between people who claimed that theory is impractical and not effective, and others who claimed that effective theory is the most practical approach to problems. What position would you take and why?
You observe female sales representatives having lower customer defections than male sales representatives. What concepts and constructs would you use to study this phenomenon? How might the concepts or constructs relate to explanatory hypotheses? Explain.
How does technological advancement affect the ability to collect data? Provide examples. Does this advancement increase the chance for errors? Explain.
What is the importance of pretesting questions and instruments? What are risks of not doing this? Provide an example.
What is the value of performing hypotheses tests to solve problems related to business and operations management? Provide specific examples.
What are differences between dependent and independent samples? Provide examples. What are implications for determining the tests used to analyze data?