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Statistics in Business
Write a 525- to 700-word response that addresses the following prompts:
Define statistics with citation and reference.
Contrast quantitative data and qualitative data with citation and reference.
Describe the levels of data measurement.
Describe the role of statistics in business decision-making.
Provide at least two business research questions, or problem situations, in which statistics was used or could be used.
The warranty period must be long enough to make the purchase attractive to the buyer. For a new HDTV the mean number of months until repairs are needed is 36.84 with a standard deviation of 3.34 months. Where should the warranty limits be set ..
A sample of 9 managers with over 15 years of experience has an average salary of $71,000 and a sample standard deviation of $18,000. Assuming that the salaries of managers with over 15 years experience are normally distributed, you can be 95% confide..
A local corporation was interested in the purchasing habits of Wake County residents.Specifically one of the things they were interested in was the proportions of residents that did a major home improvement project in the last year.
In the business world, the mean salary is often to describe the salaries of employees of a company. However, the median salary may be a better measure of the salaries than the mean. Which is the better measure of central tendency? Why?
Omar Haaris receives 5000 tripods annually from Top-Grade Supplier to meet his annual demand
Cash required for a year must be withdrawn from the bank and set aside at the beginning of that year. The Foundation is scheduled to shut down on January 1, 2014. On that date, all cash left over in its checking account will be withdrawn and paid to ..
Believe the consumer advocate's claim? Explain
The initial research proposal will consist of the following SIX (6) items:What are the implications of my findings for the theory base, for the background assumptions, or relevant literature?
A finite number of coins are placed on a row of slots of finite length
The mean percentage of correctly recalled words was calculated for each type of list for each participant. From the information provided on the right, does any difference exist between the recall of high versus low frequency words?
A meteorological office keeps records of the annual precipitation in different cities. For one city, the mean annual precipitation is 15.3 and the standard deviation of the annual precipitation amounts is 4.2. Let x represent the annual precipitation..
Provide an example of the use of multiple regression
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