Bus210 Week 1 Business Statistics Paper
Running head: [M1A BUS210]
[M1A BUS210]
Anthony Johnson
Allied American University
Author Note This paper was prepared for [Business Statistics I], [M1A] taught by [John Hannon].
PART I: APPLICATION
Directions: Please answer each of the following questions (responses should be at least two paragraphs in length and be written in complete sentences, if applicable). Show essential calculations, if applicable.
1. Describe the difference between a population and a sample.
A population is the total of all the individuals or objects that could be observed or measured. A sample is a subset or portion of a population. Sample should represent the population with fewer but sufficient number of items. One Population can have several …show more content…
Business conducted online is steadily growing as more companies are creating an online presence, while many new companies are popping up fully online. These e-businesses, like all business, must decide the best ways to generate wealth and value within their given parameters, namely the Internet, as opposed to physical dealings. And can involve the ways that e-businesses generate wealth and value and how those ways differ from traditional businesses before the Internet boom. It can suggest whether or not e-businesses have any advantages or disadvantages and then suggest whether or not businesses without an Internet presence should make one. Surveying both large and small businesses from around the world will help this thesis garner an international, well-rounded perspective. Descriptive statistics aim to describe the prominent features within a collection of data quantitatively. It summarizes a collection of data as a description rather than using the data to learn about the field in which the data represents. Generally, descriptive statistics are always used, even when the main conclusions from the data 's analysis are gained by use of inferential statistics. Inferential statistics is the given title of a process of gaining knowledge from a set of data that are subject to random change or variation. Such data sets would render a descriptive statistic meaningless as the data changes in an unpredictable way. Therefore no knowledge would be gained about the subject that the data represents. The outcome to such a statistical method may be a prediction that can then be used to ensure practical action to be taken. For example, it may have influence when making managerial decisions that affect the future within a business. Qualitative statistics are collected on the basis that the answers given in the statistical survey will be more in depth, and of a better quality, whereas quantitative statistics are
[M1A BUS210]
Anthony Johnson
Allied American University
Author Note This paper was prepared for [Business Statistics I], [M1A] taught by [John Hannon].
PART I: APPLICATION
Directions: Please answer each of the following questions (responses should be at least two paragraphs in length and be written in complete sentences, if applicable). Show essential calculations, if applicable.
1. Describe the difference between a population and a sample.
A population is the total of all the individuals or objects that could be observed or measured. A sample is a subset or portion of a population. Sample should represent the population with fewer but sufficient number of items. One Population can have several …show more content…
Business conducted online is steadily growing as more companies are creating an online presence, while many new companies are popping up fully online. These e-businesses, like all business, must decide the best ways to generate wealth and value within their given parameters, namely the Internet, as opposed to physical dealings. And can involve the ways that e-businesses generate wealth and value and how those ways differ from traditional businesses before the Internet boom. It can suggest whether or not e-businesses have any advantages or disadvantages and then suggest whether or not businesses without an Internet presence should make one. Surveying both large and small businesses from around the world will help this thesis garner an international, well-rounded perspective. Descriptive statistics aim to describe the prominent features within a collection of data quantitatively. It summarizes a collection of data as a description rather than using the data to learn about the field in which the data represents. Generally, descriptive statistics are always used, even when the main conclusions from the data 's analysis are gained by use of inferential statistics. Inferential statistics is the given title of a process of gaining knowledge from a set of data that are subject to random change or variation. Such data sets would render a descriptive statistic meaningless as the data changes in an unpredictable way. Therefore no knowledge would be gained about the subject that the data represents. The outcome to such a statistical method may be a prediction that can then be used to ensure practical action to be taken. For example, it may have influence when making managerial decisions that affect the future within a business. Qualitative statistics are collected on the basis that the answers given in the statistical survey will be more in depth, and of a better quality, whereas quantitative statistics are