Reference no: EM133220572
1. What measure of central tendency will an outlier have the most affect on? [Prepare to discuss in class]
2. When evaluating the "shape" of the date, how does an outlier effect the distribution? Why does this matter in contract pricing? [Prepare to discuss in class]
3. How do we identify outliers with the Statistics Analysis tool? [Prepare to discuss in class]
4. What is "sampling" ? [CPRG Vol 2, Ch 3]
5. Why might we use "sampling' ? [Prepare to discuss in class]
6. What does "inferential statistics" mean? [CPRG Vol 2, Ch 3]
7. What problems might we encounter when using "inferential statistics"? [Prepare to discuss in class]
8. What is a "Confidence Interval"? Why do we care about the confidence interval? What do we need to establish a confidence interval? [CPRG Vol 2, Ch 3]
9. How is the Confidence Interval derived? [CPRG Vol 2, Ch 3]