Use of descriptive statistics for business analysis
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
Use of descriptive statistics for business analysis
Competencies
In this project, you will demonstrate your mastery of the following competencies:
Use descriptive statistics for business analysis
Perform regression analysis to address an authentic problem
Apply statistics in the business environment
Overview
You have been hired as a consultant by a large hospital chain. As part of its expansion plan, the organization wants to open a new hospital in a small- to medium-sized town (with a population of 10,000–50,000). Previously, senior management hired a market research firm to do an initial feasibility analysis. The firm presented the management team with two options:
Option A: Open a small facility of 90–100 beds.
Option B: Open a medium-sized facility of 300–350 beds.
The hospital’s vice president of operations and finance has tasked you with doing an in-depth analysis to determine which of the two options will be the most profitable, given the expense range of $55–$75 million. The hospital has provided you with a data set that contains data about admissions, personnel, and hospital beds, and attributes of the data such as outpatient visits, births, total expense, and census information.
Prompt
Part 1: Data Analysis Workbook
Analyze the data from the provided Hospital Data Set (linked below) and identify current and future trends and patterns in operations.
Descriptive Analysis: Open a new Excel file and title it Data Analysis Workbook. In the workbook, create a sheet titled P1_Descriptive Analysis. Present descriptive statistics (mean, median, standard deviation, and range) in a table for four attributes from the data set.
Analyze the current hospital data to identify trends and patterns in hospital admissions and costs.
Admission Trends and Charts: Create a sheet titled P1_Admission Trends in your Data Analysis Workbook. Then, create two pie charts and two column/bar charts.
For Pie Chart #1: One slice should be labeled Admissions. Choose another attribute for the second slice. For Pie Chart #2, both slices can be attributes of your choice.
For the two column/bar charts: Ensure that one column is titled Admissions for both charts. Choose a different attribute for the other column.
Expense Trends and Charts: Create a sheet titled P1_Expense Trends in your Data Analysis Workbook. Then, create two column charts and two line charts.
For the two column/bar charts: Ensure that one column is titled Expense for both charts. Choose a different attribute for the other column.
For Line Chart #1, one of the lines should represent Expense; choose another attribute for the second line. For Line Chart #2, both lines can represent attributes of your choice.
Outliers: Identify any outliers that you see and explain how they have an impact on the overall admission and expense trends. Outliers are the data points that can have an impact on your averages and basic descriptive analysis.
Identify future trends and attributes that impact expenses and admissions by adding new sheets to your Data Analysis Workbook per the descriptions below.
Perform two bivariate regressions to provide recommendations.
For the first bivariate regression, the dependent variable should be Total Expense. Choose an independent variable from one of the remaining attributes.
Create a sheet titled P2_1st_Bivariate_Regression in your Data Analysis Workbook.
For the second bivariate regression, the dependent variable should be Admissions. Choose an independent variable from one of the remaining variables.
Create a sheet titled P2_2nd_Bivariate_Regression in your Data Analysis Workbook.
What would be the right attribute size (independent variable) seems most appropriate to lead you in the expense range of $55–$75 million?
Perform two multivariate regressions to provide recommendations.
For the first multivariate regression, the dependent variable should be Total Expense (the column in the data set). Choose two independent variables from one of the remaining attributes.
Within your Data Analysis Workbook, create a sheet titled P2_1st_Multi_Regression.
Which combination of the attributes seems most appropriate to lead you in the expense range of $55–$75 million?
For the second multivariate regression, the dependent variable should be Admissions (the column name in the data set). You should choose two independent variables from one of the remaining attributes.
Within your Data Analysis Workbook, create a sheet titled P2_2nd_Multi_Regression.
Which combination of the attributes would seem appropriate that would lead you in the expense range of $55–$75 million?
Part 2: Final Recommendation Analysis PowerPoint Presentation
Create a presentation designed for senior management and the board of directors to share the results of your analysis and provide your final recommendation.
Current State Analysis (slides 1–3): State the option (A or B) that you chose and three reasons for your choice.
Which option (Option A or Option B) would you choose based on your analysis, given the expense range of $55–$75 million?
Why did you choose your selected attributes?
Describe any relationships or trends you observed while conducting your analysis.
Predictions and Trends Analysis (slides 4–6): Present the predictions based on the regressions that you have analyzed.
Briefly describe the key elements for each regression presented in Excel. Cite the regression coefficient, regression line equation, p–value, and significance F in your description.
Which of the independent variables are impactful, and why?
Summary (slide 7): Summarize your findings for an executive audience.
Guidelines for Submission
To complete this project, you must submit the following:
Data Analysis Workbook
Submit your Data Analysis Workbook as an Excel file.Final Recommendations Analysis:
Create a PowerPoint presentation with 7-10 slides. Any sources should be cited according to APA style. Consult the Shapiro Library APA Style Guide for more information on citations.Supporting Materials
The following resources support your work on the project:
Data Set: Hospital Data Set
Use the following two sheets:
All Hospitals
Small Hospitals (Beds <= 40)
RUBRIC
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. 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The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. GET THIS PROJECT NOW BY CLICKING ON THIS LINK TO PLACE THE ORDER
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