Explain the use of inferential statistics

Assignment Help Basic Statistics
Reference no: EM131670293

Question: Suppose you are an operations manager for a plant that manufactures batteries. Give an example of how you could use descriptive statistics to make better managerial decisions. Give an example of how you could use inferential statistics to make better managerial decisions.

Reference no: EM131670293

Questions Cloud

What have been the most valuable lessons learned : Reflect upon your experience in the Mgt. 200 class thus far. What have been the most valuable lessons learned? Which concepts need more clarification?
Distinguish between a trauma center and emergency department : Patients entering through the ER are "triaged" what does this mean? Distinguish between a trauma center and an emergency department.
Descriptive statistics in the recorded music industry : Give an example of descriptive statistics in the recorded music industry. Give an example of how inferential statistics could be used in the recorded music.
What is its current stock price : The dividend growth rate is expected to be constant at 23% for 3 years, after which dividends are expected to grow at a rate of 7% forever.
Explain the use of inferential statistics : Suppose you are an operations manager for a plant that manufactures batteries. Give an example of how you could use descriptive statistics to make better.
What rate should the shop report : Big Dom's Pawn Shop charges an interest rate of 28 percent per month on loans to its customers. Like all lenders, Big Dom must report an APR to consumers.
Discuss a classic study from the ten classic studies list : Choose a classic study from the Ten Classic Studies list. Second, find a more current study on the same general topic that was conducted .
What is the future value : What is the future value of $1,800 in 19 years assuming an interest rate of 7.1 percent compounded semiannually?
Percent compounded daily on its savings accounts : Fowler Credit Bank is offering 5.7 percent compounded daily on its savings accounts. You deposit $4,100 today.

Reviews

Write a Review

Basic Statistics Questions & Answers

  Statistics-probability assignment

MATH1550H: Assignment:  Question:  A word is selected at random from the following poem of Persian poet and mathematician Omar Khayyam (1048-1131), translated by English poet Edward Fitzgerald (1808-1883). Find the expected value of the length of th..

  What is the least number

MATH1550H: Assignment:  Question:     what is the least number of applicants that should be interviewed so as to have at least 50% chance of finding one such secretary?

  Determine the value of k

MATH1550H: Assignment:  Question:     Experience shows that X, the number of customers entering a post office during any period of time t, is a random variable the probability mass function of which is of the form

  What is the probability

MATH1550H: Assignment:Questions: (Genetics) What is the probability that at most two of the offspring are aa?

  Binomial distributions

MATH1550H: Assignment:  Questions:  Let’s assume the department of Mathematics of Trent University has 11 faculty members. For i = 0; 1; 2; 3; find pi, the probability that i of them were born on Canada Day using the binomial distributions.

  Caselet on mcdonald’s vs. burger king - waiting time

Caselet on McDonald’s vs. Burger King - Waiting time

  Generate descriptive statistics

Generate descriptive statistics. Create a stem-and-leaf plot of the data and box plot of the data.

  Sampling variability and standard error

Problems on Sampling Variability and Standard Error and Confidence Intervals

  Estimate the population mean

Estimate the population mean

  Conduct a marketing experiment

Conduct a marketing experiment in which students are to taste one of two different brands of soft drink

  Find out the probability

Find out the probability

  Linear programming models

LINEAR PROGRAMMING MODELS

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd