Solution-How might adding confidence intervals help managers

How might adding confidence intervals help managers

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Question: Confidence Intervals

Many people do not "like" or "trust" single point estimates for things they need measured. Looking back at the data examples you have provided in the previous discussion questions on this issue, how might adding confidence intervals help managers accept the results better? Why?

Ask a manager in your organization if they would prefer a single point estimate or a range for important measures, and why? Please share what they say.

REFERENCE

Tanner, D. E., & Youssef-Morgan, C. M. (2013). Statistics for managers [Electronic version]. Retrieved from https://content.ashford.edu/
Chapter 11: Confidence Intervals

Note: You do not need to read Section 11.3

Chapter 12: The Chi-Square Test: Analyzing Categorical Data

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The solution contains Three measures of central tendency, mean, median and mode. computation of 95% confidence intervals

Reference no: EM131007292

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How might adding confidence intervals help managers

Reference no: EM131007292

Reference no: EM131007292

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