Applied Management Statistics Task brief

Formalities:

· Wordcount: no specific word limit. All questions should be answered.

· Cover, Table of Contents, References and Appendix are excluded of the total wordcount.

· Font: Arial 12,5 pts.

· Text alignment: Justified.

· The in-text References and the Bibliography have to be in Harvard’s citation style.

Submission: Week 10 – Via Moodle (Turnitin). You have 2 hours to complete this assignment.

Weight: This task is a 10% of your total grade for this subject.

It assesses the following learning outcomes:

· Ability to construct the confidence interval estimate in abstract settings

· Ability to use Central Limit Theorem

· Ability to construct the confidence interval for real-life problems

Question 1 (40 points):

The sample mean is 125, standard deviation 24, and the sample consists of 36 observations.

Construct 99% confidence interval estimate for the population mean (mu).

Question 2 (60 points):

Below you can find the sample of paychecks (in USD) of 9 customers of the popular fast-food restaurant.

Rubrics:

Exceptional 90-100Good 80-89Fair 70-79Marginal fail 60-69
Knowledge & Understanding (20%)Student demonstrates excellent understanding of key concepts and uses vocabulary in an entirely appropriate manner.Student demonstrates good understanding of the task and mentions some relevant concepts and demonstrates use of the relevant vocabulary.Student understands the task and provides minimum theory and/or some use of vocabulary.Student understands the task and attempts to answer the question but does not mention key concepts or uses minimum amount of relevant vocabulary.
Application (30%)Student applies fully relevant knowledge from the topics delivered in class.Student applies mostly relevant knowledge from the topics delivered in class.Student applies some relevant knowledge from the topics delivered in class. Misunderstanding may be evident.Student applies little relevant knowledge from the topics delivered in class. Misunderstands are evident.
Critical Thinking (30%)Student critically assesses in excellent ways, drawing outstanding conclusions from relevant authors.Student critically assesses in good ways, drawing conclusions from relevant authors and references.Student provides some insights but stays on the surface of the topic. References may not be relevant.Student makes little or none critical thinking insights, does not quote appropriate authors, and does not provide valid sources.
Communication (20%)Student communicates their ideas extremely clearly and concisely, respecting word count, grammar and spellcheckStudent communicates their ideas clearly and concisely, respecting word count, grammar and spellcheckStudent communicates their ideas with some clarity and concision. It may be slightly over or under the wordcount limit. Some misspelling errors may be evident.Student communicates their ideas in a somewhat unclear and unconcise way. Does not reach or does exceed wordcount excessively and misspelling errors are evident.
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