Statistics in Business QNT/351 Statistics in Business What is statistics? Statistics is collecting‚ measuring‚ analyzing‚ and communicating data. There are two types of statistics‚ descriptive statistics and inferential statistics (Lind‚ Marchal‚ & Wathen‚ 2011). Statistics are applied in different situations. This paper will describe the role statistics has in making business decisions. This paper will also provide examples of situations in which statistics are applied
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Descriptive Statistics QNT/561 July 29‚ 2014 Descriptive Statistics Job Satisfaction Central Tendency: Mean=8.5 JDI Dispersion: Standard Deviation=1.16 JDI Number: 139 Min/Max: 7 to 10 JDI Confidence Interval: 8.36 to 8.75 JDI *JDI=Job Descriptive Index Months of Employment Central Tendency: Mean= 136.24 Months Dispersion: Standard Deviation= 117.26 Months Number: 139 Min/Max: 1 to 359 Months Confidence Interval: 116.74 to 155.73 Months Descriptive
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Exercise 01 a) Develop a 99 percent confidence interval for the mean selling price of the home. b) Develop a 95 percent confidence interval for the mean distance of the home is from the center of the city. Exercise 02 a) A recent article in Bangladesh Observer indicated that the mean selling price of the homes in the city of Dhaka is more than Tk. 2200. Can we conclude that the mean selling price in the Gulshan area is more than Tk. 2200? Use the 0.01 significance level
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Exercise 36 Answers 1. Since the F value is significant‚ based on the p-value of 0.005 which is less than 0.05 which is sufficient to reject the null hypothesis. This suggests that there is a difference in the control and treatment groups. 2. Since the p- value is less than 0.05 and therefor the null hypothesis can be rejected. This presents that the mean‚ difficulty and mobility scores‚ must be different 3. The result was statistically significant with a probability score of p < 0.001.
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Research and Statistics Paper Psy 315 Define and explain research and define and explain the scientific method (include an explanation of all five steps). Proper Research is primarily an investigation. Researchers and scientists gather data‚ facts‚ and knowledge to help better understand phenomenon‚ events and people. Through research‚ analysis‚ investigations‚ and experimentation‚ we gain a better understanding of our world. As I skimmed the text to find a definition‚ I found the word research
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How to Lie with Statistics Book Summary The book How to Lie with Statistics written by Darrell Huff shows you how statistics are used to mislead; sometimes unintentionally‚ other times on purpose. It gives the readers the knowledge necessary to intelligently question and understand the story behind the numbers. In other words‚ it shows the tricks the crooks use‚ so that honest men can use this knowledge for self defense. I think it’s particularly useful for a manager or an executive to read
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Research Design and Statistics Concepts Worksheet University of Phoenix Managerial Decision Making MBA 510 G. Mark Waltensperger April 2‚ 2008 Research Design and Statistics Concepts Worksheet Concept Application of Concept in Scenario Reference to Concept in Reading Concepts of validity‚ reliability and practicality. Research must be valid and reliable. Validity insures that what is being measured is actually being measured. With out reliability and validity the research becomes questionable
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TMTH 3360 APPLIED TECHNICAL STATISTICS Fall 2014 Instructor: Margaret Tellegen Email: Use WEBCT Blackboard Textbook: Introduction to Probability and Statistics 14th Edition by Wm. Mendenhall & R. Beaver‚ Duxbury Press (required) Computer Software –Excel Objectives: Statistics are a part of every day life. We encounter them in evaluating medical treatments‚ picking a retirement plan‚ interpreting political polls‚ and even in sports. In this class we
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Chapt 10 # 42 H0: game length is >= 3.5 hours Ha: game length is < 3.5 hours mean = 2.9553 stdev = 0.5596 Get the t test statistic: t = (x-mu)/(stdev/sqrt(N)) t = (2.9553-3.5)/(0.5596/sqrt(17)) t = -4.0133 Get the critical value for df = N-1 = 16‚ one tail‚ alpha is 0.05: -1.7459 Since our test statistic is much lower than the critical value‚ we reject the null hypothesis. There is enough evidence to conclude that games are shorter than 3.50 hours. Chapt 11 # 58 The amount
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Chapter 1: Introduction 1. Origin of Statistics: The word Statistics seems to have been derived from Latin word ‘Status’‚ German word ‘Statistik’ or Italian word ‘Statista’. Each of these means “Political State’. In ancient time governments used to collect the information regarding the population & the property of the State. In India an efficient system of collecting official and administrative statistics existed even more than 2000 Years ago‚ in particular‚ during the period of Chandra Gupta
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