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Importance of official statistic
Dr. Jim Mirabella UNIT EIGHT: DATA ANALYSIS PROJECT All Excel output should be copied into a single Word document where you must enter all of your responses to the questions below.
Simulation When decisions are to be taken under conditions of uncertainty, simulation can be used. Simulation as a quantitative method requires the setting up of a mathematical
Coefficient of Variation or C.V. To compare the variability between or more series, coeffiecnt of variation is used, it is relative measure of dispersion, it innovated and used
for this proportion, use the +-2 rule of thumb to determine the 95 percent confidence interval. when asked if they are satisfied with their financial situation, .29 said "very sat
There are n seats on an airplane and n passengers have bought tickets. Unfortunately, the first passenger to enter the plane has lost his ticket and, so he just chooses a seat at r
Disadvantages The value of mode cannot always be determined. In some cases we may have a bimodal series. It is not capable of algebraic manipulations. For example, from t
Suppose that before the minimum wage law change, the underlying mean number of part-time employees per Burger King Restaurant in New Jersey was 20.3. It was thought that the increa
Advantages of Sampling Why should we settle on a sample instead of studying the entire population? Sampling has the following advantages over a census (study of the entire pop
The Quality Manager of a battery manufacturing plant reviewed the warranty records within his department and found that 4% of the low maintenance batteries produced at the plant ov
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