Reference no: EM133118207

Activity 1

Explain the difference between deductive and inductive reasoning using at least two examples. 

Activity 2

In Chapter 3 of the textbook, the confidence level is discussed. Explain what a confidence level is and its use in data or business analysis.

Activity 3

You just purchased a food truck and have begun selling in a large college town. As you are learning the market, you have been changing location every few days to get a sense of local demand. In doing so, you've decided to collect some data. In particular, you collect data on your revenues and the distance of the truck location from the center of the local university. The hope is to get a sense as to whether demand notably varies depending on your proximity to the university. 

Based on the data, please answer the following.

1. What were the best days of the month for sales?

2. What days of week are the best for sales?

3. What was the total sales for the month?

4. What days were the worst for sale?

5. Rank the weeks by best sales from greatest to least: 1, 2, 3, or 4. Hint: total the week's sales and group accordingly. Omit the 29-31 in your ranking.

6. What is the average for the month?

7. What is the mode?

8. What is the range in sales?

9. Run a regression and use the data to create a graph in Excel.

10. Write summary explaining to your manager how you can increase sales for the next month.

Activity 4

In Chapter 3 Standard Deviation is introduced. Explain Standard Deviation and show some common applications of it. Include in your discussion the relation between the Sample Mean and Standard Deviation. 

Activity 5

In Chapter 3 the T-Stat is introduced. Explain the T-Stat and show some common applications of it, also include in your discussion the Z-Score.

Attachment:- Activity-Data .rar