This assignment should be at least two pages in length and complete the following:
- Clearly identify your chosen goal in an introductory paragraph.
- Create an operating budget for your goal.
- The budget should include common categories and subcategories such as general operations, HR, marketing, miscellaneous expenses, etc.
- Include all major expenses required for the goal. Common expenses include salaries, marketing channels, and inventory.
- Connect the costs/categories that you’re considering to your already created marketing, management, and HR strategies discussed in earlier portions of the project.
- Identify two long-term assets from the capital budget that will play a role in the completion of your goal. These can be new purchases or existing assets.
- Briefly explain the impact that each will have.
This week you will begin working on Phase 2 of your course project. Using the same data set and variables for your selected topic, add the following information to your analysis:
- Discuss the importance of constructing confidence intervals for the population mean.
- What are confidence intervals?
- What is a point estimate?
- What is the best point estimate for the population mean? Explain.
- Why do we need confidence intervals?
- Find the best point estimate of the population mean.
- Construct two confidence intervals for the population mean: a 95% confidence interval and a 99% confidence interval. Assume that your data is normally distributed and the population standard deviation is unknown.
- Please show your work for the construction of these confidence intervals and be sure to format your equations to fit the appropriate form (may need editing here).
- Write a paragraph that correctly interprets the confidence intervals in context of your selected topic.
- Compare and contrast your findings for the 95% and 99% confidence intervals.
- Did you notice any changes in your interval estimate? Explain.
- What conclusion(s) can be drawn about your interval estimates when the confidence level is increased? Explain.
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