Statistics In Business Quantitative Analysis for Business September 22‚ 2013 Dr. John Kwagyan Introduction Statistics is a tool used in businesses for planning and measuring the various activities a business is engaged in. Descriptive and inferential statistics are two different types of statistics used in a business. Statistics is the most widely used quantitative method in business. Statistics describes a set of data and then it draws a conclusion from the data
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are two main branches of statistics that include descriptive statistics and inferential statistics.Descriptive statistics gives numerical measures that describes the features of a given set of data. Inferential statistics on the other hand takes a sample of a given population‚ analyses the sample‚ and from it draw conclusions about the population .Malcolm.O.Asadoorian and Demetrius Kantarelis in their book: Essentials of inferential statistics argue that descriptive statistics organize ‚ summarize and
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Alexander College Comm 291 Assignment 1 Instructor: Alfred Kong Due date: 26th May 2014 The assignment is due at the beginning of the class. Late assignment will not be accepted. For this assignment‚ complete all of the following questions. Question 1 A manufacturer of cat food was planning to survey households in the US to determine purchasing habits of cat owners. Among the questions to be included are those that relate to 1. Where cat fat is primarily purchased. 2. Whether
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History of Technological Innovations at PNC Bank Susan Santos CMGT 557 - Emerging Technologies & Issues April 16‚ 2012 Professor Tammy Borunda Abstract This paper will describe how technology has changed the banking industry. I will specifically talk about PNC Bank. PNC Bank was founded in 1852‚ in Pittsburgh‚ PA. Its founders were James Laughlin and B.F. Jones. Since 1852‚ PNC Bank has expanded geographically in the northeast‚ Midwest‚ eastern and southeast part of the country through
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Statistics is the study of the collection‚ organization‚ analysis‚ interpretation‚ and presentation of data. It deals with all aspects of this‚ including the planning of data collection in terms of the design of surveys and experiments. The word statistics‚ when referring to the scientific discipline‚ is singular‚ as in "Statistics is an art. "This should not be confused with the word statistic‚ referring to a quantity (such as mean or median) calculated from a set of data‚ whose plural is statistics ("this
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1000 recorded deaths in the United States during the past year showed an average life span of 71.8 years. Assume a standard deviation of 8.9 years. Find a 95% confidence interval for the actual average life span. 5. On a certain national school test [pic]and [pic]. A principal claims that her students are above average. She takes a random sample of 75 and finds a mean of 525. Is her claim justified? 6. A random sample of 100 recorded deaths in the United States during
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New England Merchants National Bank‚ 386 Mass. 672‚ 437 N.E.2d 218‚ Web 1982 Mass. Lexis 1559 (Supreme Judicial Court of Massachusetts) 2. Key Facts A. David Siegel maintained a checking account with New England Massachusetts National Bank. B. On September 14‚ Siegel drew and delivered a $20‚000 check payable to Peter Peters. C. The check was dated November 14. D. Peters deposited the check in his personal banking account. E. On September 17‚ the bank paid the check and charged
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Business Research Paper by Jake Hall RES/351 Facilitator: Jeff Geffert Week 1 Assignment Due May 20‚ 2013 Submitted May 20‚ 2013 Introduction The purpose of business research is to allow a business to set itself apart from its competitors by gathering as much information on the industry that it can and utilizing that data to create unique methodologies and business practices. Researching a business will provide information on things such as what products consumers like or do
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Food Banks and their Purpose “Food banks were first established as emergency relief for those in need of food. Nearly 20 years later‚ they have become an integral part of contemporary Canadian society‚” (Theriault & Yadlowski‚ pg. 206). Furthermore‚ “the number of people thought to be in need of food aid to help them eat – in the form of food parcels and food banks – have been underestimated‚” (O’Dowd‚ pg. 6). In fact‚ “more than two-thirds of people receiving assistance from food pantries get help
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better decisions when they use all available information in an effective and meaningful way. The primary role of statistics is to to provide decision makers with methods for obtaining and analyzing information to help make these decisions. Statistics is used to answer long-range planning questions‚ such as when and where to locate facilities to handle future sales. 2 Definition s Statistics is defined as the science of collecting‚ organizing‚ presenting‚ analyzing and interpreting numerical data
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