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Explanation of standard deviation and variance Describe the importance of standard deviation and variance, what they calculate and why they are required. Importance of char
The file Midterm Data.xls has a tab labeled "Income Data 2009". This data is collected income data from a sample of 400 people in 2009. Use a hypothesis test to see whether the av
Simulation When decisions are to be taken under conditions of uncertainty, simulation can be used. Simulation as a quantitative method requires the setting up of a mathematical
Theories of Business forecasting
Differentiate between data and database
discuss the advantages and disadvantages of measures of dispersions
You are attempting to purchase a part from a specialty vendor. Your company requires a C p of at least 1.67 on a critical dimension of the part. The dimensional specific
Arithmetic Mean The process of computing Arithmetic Mean in the case of individual observations is to take the sum of the values of the variable and then divide by the number
Consider an MBA program as a processing network where the flow unit consists of a student in the program. Suppose the organizations that hire and promote MBAs are considered to be
Mathematical Properties The sum of deviations of the items from the arithmetic mean (taking signs into account) is always zero, i.e. = 0. The sum of
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