Omkar & Yaying Wednesday 5-6pm WEEK 3 BES PASS Descriptive Statistics Population - a set of all possible observations. Sample - a portion of a population. We often use information concerning a sample to make an inference (conclusion) about the population. Parameter - describes a characteristic of the population‚ eg: the population variance Statistic- describes a characteristic of a sample‚ eg: the sample variance Frequency Distribution and Histograms Class - a collection of
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for each observation. These are found by subtracting the mean value from the selected value and dividing by the standard deviation. The Normal Probability Distribution Find an example of application of probability theory in your workplace or business. Show that the reasons that your workplace uses probability analysis‚ such as probability of risk calculations or percent defects or percent for pass or fail of a
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Why Strategy is Important to Business Linda Ann Gonzales March 7‚ 2012 Management Policy and Strategy: MT460-03 1201B Unit 2 Abstract This project is about why it is important to apply the strategic management process to business and at the same time will be discussing the importance of strategy for business. This paper will continue to explain the concept of the strategic management process‚ and will discuss the importance of having a future oriented plan‚ the organization’s vision‚ mission
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45.16 + 2.3263 * 10 = 99% of households spent less than $68.42 NORMINV (.99‚ 45.16) References Levine‚ D.‚ Stephan‚ D.‚ Krehbiel‚ T.‚ & Berenson‚ M. (2008) Statistics for managers using Microsoft Excel w/cd. (5th ed.). Upper Saddle River‚
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Chapters 1-3:In order to control costs‚ a company wishes to study the amount of money its sales force spends entertaining clients. The following is a random sample of six entertainment expenses (dinner costs for four people) from expense reports submitted by members of the sales force. $157‚ $132‚ $109‚ $145‚ $125‚ $139. Calculate the mean and sample variance(s^2) and standard deviation. Mean = 807/6 = 134.5. Sample Variance = (109925 – (807^2/6)/6-1 = (109925 – 108541)/5 = 1384/5 = 276.8.
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Q1 In a test given to 500 students‚ the average marks was 56 and the standard deviation was 20. Find (i) the number of students exceeding a score of 60. (ii) the number of students having marks between 50 and 70. (iii) the value of marks exceeded by the top 100 students. Answer-------- (i) number of students exceeding a score of 60=210 (ii) The number of students having marks between 50 and 70=188 (iii) The value of marks exceeded by the top 100 students=73 Q2. Following
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Introduction to Strategic Management Why is Strategy Important to Business Kaplan University Management Policy and Strategy MT 460 – 01 Unit 2 The question of why strategy is important to business is compelling to say the least. There are a number of reasons why strategy can and often does determine the success‚ growth or failure of a business. Without a strategy the business is responding to internal and external circumstances or demands without the advantage of a plan in place to address
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transportation. To study the potential of providing this benefit‚ the company would like to do a survey of the workers at a company to gather information on why do or do not use public transportation for commuting to work. The company is about 25‚000 people in areas where public transportation is available. You also want to find out the reasons why their choice is what it is. In this case self-administered questionnaire would be most appropriate because there is 25‚000 people to be surveyed and could
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Project Business Research for Decision Making Project Type: Unit 1 Individual Project Abstract Though formal research and business proposals are similar in the fact that their main goal is to provide an answer to a question or a solution to a problem‚ they are very different in terms of how and why the information is obtained as well as the way the information is delivered. Formal research is performed to determine a specific problem as well as determining its prevention. Business proposals
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we are faced with situations everyday where Statistics can be applied. In general‚ Statistics is the science of collecting‚ organizing‚ and analyzing numerical data. The techniques involved in Statistics are important for the work of many professions‚ thus the proper preparation and theoretical background of Statistics is valuable for many successful career paths. Marketing campaigns‚ the realm of gambling‚ professional sports‚ the world of business and economics‚ the political domain‚ education
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