Oil Prices: What’s Behind the Volatility? Simple Economics by Clifford krauss, business and finance homework help

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Unit 6 Discussion

In the last 5 weeks, you have learned the following analysis methodologies: Descriptive statistics, probability calculations, normal distribution calculations, hypothesis testing, regression, and forecasting.

In this Discussion, you will explore how you can apply these methodologies to current events.

Research an article on a current event that centers on a controversial issue where the two sides are claiming opposing views. Then describe how you would analyze the situation to settle the issue if you were involved in this event. For example, if the article was about whether a proposed new law about gun control will reduce deaths, you may describe how you would use hypothesis testing to compare data from states where such laws exist. Or, if the article was about actions to take to reduce gas prices, you could talk about how you would use regression to figure out which factors affected prices at the pump the most.

Please note that this Discussion should be limited to how statistical analysis can be applied to current issues. This is not the place to champion a particular position on the issue you are discussing or get into an argument about the various sides of an issue. Remember, you are here to analyze, not proselytize.

Please use the template below in your answers, so everyone can easily follow your answers to all the questions (copy and paste to your post).

Use this template for your Unit 6 Discussion.

Summary of the article

Briefly describe the current event described in the article.

Central question

What issue or question you will you be focusing on in your analysis? What are the conflicting points of view?

There has to be some specific issue in dispute at the center (do tax breaks increase spending, what impacts healthcare costs the most, etc.), and the sides have to be defending a particular position.

Do not use examples where the issue is based on opinions or morality. For example, “Should abortion be legal?” is largely a morality question and is not suitable for statistical analysis. Conducting a survey to ask people about their opinions is not the same as analyzing data and making conclusions.

Methodology

Explain which methodology you will apply. Provide the relevant details. Where will your data come from? How will the results from this methodology answer the question you described above?

For example, if you are going to use forecasting, explain how you will do that and how you will measure your accuracy. How will the forecast settle the issue? If you will do a regression analysis, explain what the dependent and independent variables will be. If you do hypothesis testing, what will the null and alternative hypothesis be?

 
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