Exploring Statistical Concepts and Research Methodologies in Business and Healthcare

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Exploring Statistical Concepts and Research Methodologies in Business and HealthcareWeek 1Since statistics is the science of data, the relationship between a sample, population, descriptivestatistics, and inferential statistics is that they are all components of statistics.All of thesecomponents involve collecting classifying, summarizing, organizing, and interpreting numericalinformation.Also, all of these components are connected in some form. For example, a sample isa subset ofa population and one or both are included inthe elements of descriptive or inferentialstatistical problems.This means that you cansurvey iPhoneusers but this population is too largeso, you can break that down intoiPhone users between that ages 25 to 29.According to McClave, Benson, and Sincich (2011),a population is a set of units (people,objects, or events) that we are interested in studying (p. 5).Asample as a subset of the units of apopulation or any set of output produced by a process.Descriptiveutilizes numerical andgraphical methods to look for patterns in a data set, to summarize the information revealed in adata set and to presentthe information in a convenient form (McClave, Benson, & Sincich, 2001,p. 3). The text states that inferential statistics utilizes sample data to make estimates, decisions,predictions, or other generalizations about a larger set of data.McClave, J. T., Benson, P. G., & Sincich, T. (2011).Statistics for Business and Economics(11thed.) Boston, MA: Pearson.Week 21.Read the Albert Einstein quote in “The Research Process” section in Ch. 4 ofBusinessResearch Methods.What is the value of this statement in terms of the research process?What is the relevance and relationship of this statement to the technologically advancingbusiness world? Where do these questions allow us to go?'A familiar quotation from Albert Einstein, no less apt today than whenit was written, supports this view:The formulation of a problem is far more often essential than its solution, which may be merely a matter of mathematicalorexperimental skill. To raise new questions, new possibilities, to regard old problems from a new angle requirescreativeimagination and marks real advance in science.1In terms of the research process there will be as many probable solutions as there are researchers.For this reason it is imperative that all data extrapolated utilizing the basic formula is verified tobe valid. To find new ideas to all problems researchers must approach the issue with a questionattitude.It is safe to say that the pneumoniahas been around since thebeginning of time.However, there is continues research that is time consuming andnever ending battle tofindbetter ways to treat the illness. Being that the pneumonia is becoming more complex and harderto treat,there is no cure once a person has contracted it, it can be treated but it has to run itscourse.Although there isa vaccine to combat against whatever strand of the virus exist duringthat particular calendar year. The questions above allow us to take a long hard look at finding theproper solution to problems to benefit the world. These questions allow us to continue to becomemore creative and to continue to develop new or modern solutions in the business world.

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