This is a collection DEVRY Math221 “Statistics for Decision Making” Discussion posts. This class is set up as a 8-week class where in the first 7-weeks you must post 3 discussion posts. These posts should be viewed as the ‘initial’ posts for each week. Normally the 2nd and 3rd posts each week are responses to other students. These discussions make up ~14% of the class so they are very important, and an easy way to get maximum points!
These posts are actual word-for-word posts I used for a student in the Summer 2012 semester. These posts plus 2 additional replies to other students got ALL possible discussion points for the semester (Week1 is given Free!).
1) Week1: Question:
If you were given a large data set such as the sales over the last year of our top 1,000 customers, what might you be able to do with this data? What might be the benefits of describing the data?
The best thing to do with this data would be to answer questions like:
1) what products sell the most: This would help the marketing department (for example) on targeting what items to push.
2) what groups of people buy what product: Again this would be targeting who buys what. We may discover that males prefer productA and females prefer productB. Or young customers prefer different products that older. This would help marketing also on targeting sales.
Suppose you are given data from a survey showing the IQ of each person interviewed and the IQ of his or her mother. That is all the information you have. Your boss has asked you to put together a report showing the relationship between these two variables. What could you present and why?
3) Week3 (Note: This week is based on Recent articles so view this as a template):
Keep your eyes and ears open as you read or listen to the news this week. Find/discover an example of statistics in the news to discuss the following