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Descriptive Statistics: Ages
Variable Mean StDev Minimum Q1 Median Q3 Maximum
Ages 23.56 8.97 17.00 18.25 21.00 23.75 49.00
1) Describe the shape of the data
2) What percentage of data would you expect to find within two standard deviations of the mean?
3) Between what values does at least 89% of the data fall?
4) Between what two values do the middle 50% of the data lie?
Why is forecasting important in organizations, especially as related to understanding the relevant time horizon to develop a forecast against? What are some examples from industry?
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