Statistics in Business QNT/275 January 12‚ 2015 Kim Gravelle Statistics in Business Statistics are simply a way of gathering information from data. Learning from data is the essential use of statistics. The extraction of answers from data provides the foot print for further investigation and research. There are several different types and levels of statistics‚ they are nominal‚ ordinal‚ interval‚ and ratio ("Data Levels of Measurement"‚ 2014). The first level being nominal‚ allows for the use
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SUBJECT: BUSINESS STATISTICS COURSE CODE: MC-106 LESSON: 01 AUTHOR: SURINDER KUNDU VETTER: DR. B. S. BODLA AN INTRODUCTION TO BUSINESS STATISTICS OBJECTIVE: The aim of the present lesson is to enable the students to understand the meaning‚ definition‚ nature‚ importance and limitations of statistics. “A knowledge of statistics is like a knowledge of foreign language of algebra; it may prove of use at any time under any circumstance”……………………………………...Bowley. STRUCTURE: 1.1 1.2 1.3
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of top 100 banks in the United States according to the total assets. Leading the list was Bank of America‚ followed by JP Morgan Chase and Citibank. Following is an Excel Analysis of total assets ($ billions) of these banks using the descriptive statistics feature. Study the output and describe what you can learn about the assets of these top 100 banks from the output. Top 100 Banks in the U.S Mean Standard Error Median Mode Standard Deviation Sample Variance Kurtosis Skewness Range Minimum
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Chapter one summary The use of statistics is research is noted in this chapter. It reveals that statistical procedure could be segregated into two section and they are descriptive and inferential. In analyzing both descriptive statistics does exactly what it says‚ it describes the set of data. The problem is presented and descriptive statistical basically describes what the data has to say about the same issue. However inferential statistics main goal is making predictions or inferences about
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Case Problem 1: National Health Care Association(Descriptive Statistics) The National Health Care Association is concerned about the shortage of nurses the health care profession is projecting for the future. To learn the current degree of job satisfaction among nurses‚ the association has sponsored a study of hospital nurses throughout the country. As part of this study‚ a sample of 50 nurses was asked to indicate their degree of satisfaction in their work‚ their pay and their opportunities for
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not = 440 Statistic 4.9 With 98% confidence Lower limit 3.05348411 Upper limit 24.7249703 With 98% confidence we cannot reject Ho since the statistic is inside the acceptance zone b) Check the same hypothesis with 95% confidence. With 95% confidence Lower limit 3.81574825 Upper limit 21.9200493 With 95% confidence we cannot reject Ho since the statistic is inside
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Absolute‚ gage‚ and vacuum pressures Pgage = Pabs − Patm Gage pressure Absolute pressure p Standard atmospheric pressure Local atmospheric pressure Suction vacuum (gage pressure) Pvac = Patm − Pabs 1 atmosphere 101.325 kPa 14.7 psi 10.34 m H20 760 mm Hg Local barometer reading Absolute zero (complete vacuum) 9/4/2013 4 2 Absolute‚ gage‚ and vacuum pressures Actual pressure at a give point is called the absolute pressure. Most pressure-measuring devices are calibrated to read
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While Statistics can also be misused in many ways such as using not representative samples‚ small sample size‚ ambiguous averages and dispersions‚ detached facts‚ implied connections‚ wrong and misleading graphs‚ wrong use of statistical techniques‚ serious violation of assumption behind the statistical techniques and faculty surveys‚ we should also realize that Statistical literacy is not a skill that is widely accepted as necessary in education. Therefore a lot of misuse of statistics
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The Consumer Behavior of the Filipino Middle Class Youth As Taken From De La Salle University Students “A Market Study on Brand and Product Preferences of the Youth” In partial fulfilment of the requirements in Economic Statistics 4/16/2009 Submitted to: Dr. Cesar Rufino Samuel John Daniel B. Paculan I. BACKGROUND AND IMPORTANCE OF THE STUDY This study was done to determine the preferences of the youth toward local and imported brands‚ so as to find out the marketability of local brands
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techniques can be used to analyze nominal level data to describe variables‚ examine relationships among variables‚ and determine differences between groups in distribution-free or non-normally distributed samples. The assumptions of nonparametric statistics are: (1) values from measurement of study variables need not be normally distributed in the sample‚ and (2) the level of measurement of study variables is usually nominal or ordinal. The mode is the only measure of central tendency that can be calculated
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