What is the role of statistics in decision-making

Assignment Help Other Subject
Reference no: EM13324433

Q1. What is the “Role of Statistics” in Decision-Making?

Q2. What are the two fundamental Laws of Statistics?

Q3. What are the five (5) broadly divided categories of Statistics and their associate definitions or explanations?

Q4. What is probability? How many kinds of probability do we commonly have? Please state them by using the defined formula. Which one is not good for use.

Q5. What are the broadly classified common Statistical Issues ?

The following distribution data is given and apply to Q6 to Q8:

Marks less than 10 20 30 40 50 60 70 80 90

No. of Students 4 6 24 46 67 86 96 99 100

Q6. Draw Histogram.

Q7. Draw Frequency Polygon.

Q8. Draw less than Ogive Curve and greater than Ogive Curve in one

chart and find the Median.

Homework Set for STAT500-SP11-1801/1900, UNVA, USA

Prepared by Professor Victor J. Chen, Ph. D., P.E. – 04/15/2011 Page 3 of 3

Q9. What are the three types of Mean? Please write down the definitions by using their formula.

Q10. What is the difference between “Mean” and “Median”? Please indicate the difference by definitions and by graph. If the “Mean” and “Median” of a data set distribution coincide each other, what does the physical meaning of the distribution curve?

Q11. Use formula with defined parameters to indicate the measures of “skewness”, “kurtosis”, and “Moments.”

Q12. Find the standard deviation by any method for the following classified data:

Class Interval: 0-10 10-20 20-30 30-40 40-50 50-60 60-70

Frequency: 6 14 10 8 1 3 8

Q13. Please follow the example 3 of Chapter 4 to perform your practice. Your Excel working sheets are required (like the one on page 113 of the textbook) to submit for review and grading.

Q14. What is the relationship between the Standard Normal Distribution and the Normal Distribution? Use formula to indicate the difference.

Q15. What is Central Limit Theorem? Explain it by wording and Graphs please.

Reference no: EM13324433

Questions Cloud

How do you explain the service recovery paradox : How do you explain the service recovery paradox? Do customers have a greater appreciation for the "we try harder" approach to service delivery? Or do customers today expect nothing less than the "we get it right" approach? Defend your position with s..
Customer satisfaction and service quality assessments : Do customer satisfaction and service quality assessments always complement each other? Provide an example of how these assessments can yield a complete picture of the service delivery.
Issues exist with regard to legality of corrections programs : What major issues exist with regard to the legality of corrections programs? Explain
What is the difference between mean and median : What is the difference between “Mean” and “Median”? Please indicate the difference by definitions and by graph. If the “Mean” and “Median” of a data set distribution coincide each other, what does the physical meaning of the distribution curve?
What is the role of statistics in decision-making : What is the “Role of Statistics” in Decision-Making? What are the two fundamental Laws of Statistics? What are the broadly classified common Statistical Issues ? What is Central Limit Theorem? Explain it by wording and Graphs please.
How can creative thinking in groups be enhanced : How can creative thinking in groups be enhanced? What are some organizational barriers that may limit group creativity? How can some of the barriers be overcome? What is the relationship between controversy, decision-making, and creativity
Idea of reducing the corporate tax : Do you think the idea of reducing the corporate tax in order to have more businesses come back to the United States is a good idea? I think it will create more jobs here in the United States...what do you experts think?
Origins of homosexuality is an important goal : How persuasive is the idea that identifying the origins of homosexuality is an important goal? In what way is it important to have this knowledge?
Accepted assumptions about males and females : Sociologist Erving Goffman critiqued the limitations and expectations for American males: “In an important sense there is only one complete unblushing male in America: a young, married, white, urban, northern, heterosexual, Protestant, father, of col..

Reviews

Write a Review

Other Subject Questions & Answers

  What is the economic meaning of a recession

Discuss the extent to which the use of demand side policies (fiscal policy and monetary policy) during the Great Recession of 2008 has been successful in restoring economic growth and reducing unemployment

  Inmate is released from a correctional facility

Explain at least three of the barriers to reentry when an inmate is released from a correctional facility

  Work choices system and the proposed changes

The Work Choices System and The proposed Changes being introduced by the Rudd Labor Government as it would relate to the mining industry and how it may relate to employees involved in

  Magic bullet for reforming the penal system

If you were charged with coming up with the "magic bullet" for reforming the penal system, how would you respond? Explain, offering specific elements of your proposal.

  Computers and advanced operating systems

How do you think the world would be different without today’s computers and advanced operating systems? What would be different about our daily lives, our personal lives, our education, and our professional lives? Write your response in one to two pa..

  Economics apply to health care

Need help with the following. I need to debate whether or not economics apply to health care, and in what ways.

  Performing intense physical exercise

When a person is performing intense physical exercise and begins to feel fatigue and a stinging or burning in the muscles, it is most likely due to the muscle's accumulation of what??

  Information regarding antisocial personality disorder

Explain any biological influences on memory of individuals with this disorder.

  Explaining the age discrimination in employment act

The federal Age Discrimination in Employment Act (ADEA) protects employees 40 years of age and older from age discrimination. Some states have state laws that protect younger workers, too. What do you think of the ADEA?

  What are the three dimensions to business problems

What are the three dimensions to business problems? Provide examples of each. What is the difference between IT and information systems? Describe some functions of information systems.

  Using cpi to calculate estimate at completion of project

Use the CPI to calculate the estimate at completion (EAC) for this project. Use the SPI to estimate how long it will take to finish this project.

  Interested investor to buy your business

Suppose you are approached by an interested investor to buy your business. Do you know how to value your business to be able to respond? How do you determine the value of your business? Might you work for an investor who bought your business? Why or ..

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