Logistic Regression estimates the probability of binary outcome as a function of independent variables.

An example is the probability that a borrower will default as a function of his credit score,

income, loan size and his current debts. In other words, Logistic Regression is a statistical method

for analyzing dataset in which there are one or more independent variables (predictor) that determine

the outcome of a dichotomous dependent variable such as YES or NO. Dichotomous is an outcome variable

with the possibility of only two alternative outcomes such as TRUE or FALSE.

Binary logistic regression model is used to estimate the probability of the binary response of dependent

variable based on one or more independent or predictor variables. Logistic regression uses categorical

predictor to predict the binary dependent outcome.

Question:

In assessing the predictive power of categorical predictors of a binary outcome,

should logistic regression be used?

Requirements:

Another way to frame the question is:

Can logistic regression be used to predict

categorical outcome?

If yes, then how can logistic regression be used to predict

categorical outcome?

If no, why?

Start by defining Logistic regression

Define binary logistic regression.

Describe the predictive power of  categorical variable on binary outcome.

Explain the usefulness of logistic regression in Big Data Analytics.

Provide examples.

Useful links:

https://www.medcalc.org/manual/logistic_regression.php

 

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Virtual teams are composed of employees who are physically dispersed throughout the nation or around the world. They are linked by various forms of electronic technology. Face-to-face contact is usually minimal or nonexistent. Virtual teams face several challenges: time zone differences, which make quick information exchanges difficult, and cultural miscues, which can cause misunderstandings. When teams don’t meet in person, its less likely they will develop the kind of chemistry common to productive teams that have face-to-face meetings. Many virtual teams are in continuous danger of becoming dysfunctional.

Recent research has identified certain traits and practices common to most virtual teams. Here are a few important rules for making these teams productive.

• Choose a few team members who already know each other. This will speed up the process of building networks among team members. Invest in online resources that help all team members quickly learn about one another.
• Ensure the task is meaningful to team members and the company. Assign tasks that are challenging and interesting.
• The virtual team should include “boundary spanners,” persons who have many connections to useful people outside of the team.
• Develop a team mission statement along with teamwork expectations, project goals, and deadlines.
• Create an online site where team members can collaborate, exchange ideas, and motivate one another. The team should have a shared online work space that all members can access 24 hours a day.
• Encourage frequent communication and try to reach agreement about preferred communication tools.
• If you are a virtual team leader, find ways to mark team progress toward goals.

Instructions: Answer the questions below for this assignment. Keep in mind the information preceding the instructions when preparing your paper, and ensure that you follow the format for this assignment provided immediately following the Questions.

Assignment Questions:

1. In your opinion, which of the five dysfunctions of a team would be the greatest barrier to virtual team productivity? Defend your answer.

• Absence of trust: Trust is considered the foundation of effective teamwork.
• Fear of conflict: Teams that lack trust are not capable of engaging in open, unfiltered debate.
• Lack of commitment: When team members fail to voice their views openly during passionate debate, they rarely buy-in and commit to decisions.
• Avoidance of accountability: Without commitment and buy-in, team members are often hesitant to call their peers on actions and behaviors that seem counterproductive to the good of the team.
• Inattention to results: Failure to hold one another accountable creates an environment where team members put their own needs above the collective goals of the team.

2. What can be done to avoid information overload when a virtual team is made up of 25 or more members?

Research Paper Instructions:

IMPORTANT!!
Submit your work as an MS WORD ATTACHMENT in either a .doc, .docx, or .rtf format. No other file format can be accepted (i.e., no .pdf, read-only, or Apple file formats).

Write a 1-2 page paper regarding your findings, using APA format, and submit no later then Sunday, midnight. Your paper must have an introduction, body, and conclusion. In addition, papers longer than 2 pages will not be read after the second page. As such, please ensure that all questions are answered within the first two pages, as your grade will be based on the first two pages received. Your paper must include a reference page, title page, and in-text citations for all listed references in accordance with the APA manual, 6th edition chapters 6 (citation formatting) and chapter 7 (reference/source formatting).

Please support your ideas, arguments, and opinions with independent research, include at least three (3) supporting peer-reviewed references or sources (do NOT use Wikipedia, encyclopedias, unknown, undated, or anonymous sources, such as websites), include a reference section, and cite all listed references properly in your paper, in accordance with the 6th edition of the APA manual, chapters 6 & 7.

Reminder:
Please ensure that you review the grading rubric (click on checkerboard under grade details above) for this assignment carefully, to ensure that you receive the highest possible grade for your work!

 

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This assignment consists of two sections: your final business plan and your business plan financials. Note: You must submit both sections as separate files for the completion of this assignment.

You have completed all the necessary sections of your business plan and will now create a final draft. Use any/all feedback you have received to polish your plan to the point that you could confidently show it to investors and potential partners or customers.

Refer to the outline of a business plan beginning on page 399 of the course text. Not all businesses will include all these components in this order, but use the outline as a guide. Specifically, your plan will not require the development, milestones, and exit plan sections of the business plan.

Section 1: Business Plan – Final (MS Word or equivalent)

Construct a 10–30-page business plan. Note: Twenty pages are sufficient for most businesses.

• Write a 1–3-page executive summary for your business plan, in which you justify the following:
  1. A clear and concise business concept
  2. A thoroughly planned business concept
  3. A capable management structure
  4. A clear-cut market need
  5. Significant competitive advantages for your business
  6. Realistic financial projections
  7. That investors have an excellent chance to make money
  8. A realistic and developed exit plan

Note: Read Chapters 4 and 18 of the course text, Successful Business Plan. Use the plan preparation worksheets on pages 58–61 and the sample executive summaries on pages 62–66 to help guide you; choose to write either a synopsis summary or a narrative summary and include highlights from each section of your business plan.

• Combine all the sections stated below and revise your initial business plan draft, which you submitted in Week 8, based on feedback you have received.
• Executive summary
• Company description (Assignment 1)
• Industry analysis and trends (Assignment 1)
• Target market (Assignment 2)
• Competition (Assignment 2)
• Strategic position and risk assessment (Assignment 1)
• Marketing plan and sales strategy (Assignment 2)
• Operations plan (Assignment 3)
• Technology plan (Assignment 3)
• Management and organization plan (Assignment 3)
• Ethics and social Responsibility plan (Assignment 3)
• The Financials (Week 7 Discussion)
  • Hint:
    • The financial section of your business plan will be derived from the previously completed financial worksheets.
  • Note:
    • The financials and the management description must spark enough interest to convince a reader to continue. Enhance the two mentioned sections to engage the reader.

Format your assignment according to these formatting requirements:

• Cite the resources you have used to complete the exercise. Note: There is no minimum requirement for the number of resources used in the exercise.
• The paper must be typed, double-spaced, using Times New Roman font (size 12), with 1-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions.
• Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required page length. 

Section 2: Business Plan Financials (MS Excel worksheets bundled with course textbook)

1. For year one, submit a revised income statement, cash flow projection, and balance sheet from the “Business Plan Financials” Excel template based on your feedback from Project Deliverable 3: Operations. Technology, and Management Plan with Financials – Draft. You will submit the entire completed and revised Excel worksheet.

The specific course learning outcome associated with this assignment is:

• Construct a business plan with an executive summary that justifies a clear concept, a management structure, a market need, competitive advantages, and financial projections.

 

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respond to it 

Professor and Classmates,

There exists some confusion surrounding the differences between statistical and clinical significance. Readers of medical research view statistical significance as translating to the data holding a clinically important outcome (Ranganathan, Pramesh, & Buyse, 2015). This is not the case. Instead statistical significance informs if there is a difference or a relationship between the independent and dependent variables. Statistical significance does not mean that the difference or relationship equates to clinical significance (Chamberlain, 2019). With statistical significance the numbers conclude that the outcome is not due to chance. Clinical significance refers to the practicality of the findings. In real life situations, would these results have an impact on clinical practice? Some research may have statistical significance but may not be clinically significant, thus not resulting in a clinical change in healthcare practice (Heavey, 2015).

It is possible to have research study results that supported the acceptance of the null hypothesis and demonstrate clinical significance. For example, if a study hypothesized that a new diabetes medication had no effect on blood sugar levels and the null hypothesis could not be rejected, it is plausible that the data is not statistically significant but it can still be clinically significant. If even a small number of subjects in the study showed a decrease in blood sugar levels attributed to the introduction of the medication, this could have an effect on the clinical practice in treating such patients going forward.

Credibility has to do with verifying the results of the study as accurate or believable. In terms of qualitative research this will rely on the foundation of information gathered during either the observations or participant interviews. Credible data is more likely to result from a study that has appropriate and adequate data, as well as a good analysis of negative cases. If a study’s credibility is in question, clinical significance in practice would not be established. Credibility may be established in a variety of ways, and when these techniques are not employed it is likely the study will not be credible. One such method is triangulation. Triangulation involves using multiple methods, data sources, observers, or theories surrounding the phenomenon being studied so as to ensure a more complete representation of reality. Triangulation ensures credibility by supporting comprehensive research findings. If methods such as these are not employed, it is unlikely the findings will have clinical significance. For example, if a study to determine if physical activity affected senior mental  health did not employ methods such as triangulation and therefore was deemed not to be credible, there would be no way in which to know if there is a correlation between the two in order to be significant to clinical practice with seniors.   (Polit & Beck, 2017).

References

Chamberlain University. (2019) Retrieved from https://chamberlain.instructure.com/courses/46849/pages/week-6-clinical-significance-of-qualitative-research?module_item_id=6015986

Heavey, E. (2015). Differentiating statistical significance and clinical significance. American Nurse Today, 10(5), 26-28

Polit, D. & Beck, C. (2017). Essentials of nursing research: Appraising evidence for nursing practice (9th ed.). Philadelphia, PA: Wolters Kluwer.

Ranganathan, P., Pramesh, C.S., Buyse, M. (2015). Common pitfalls in statistical analysis: Clinical versus statistical significance. Perspectives in Clinical Research, 6(3), 169-170.

 

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