Statistics in Business Katherine Wolf QNT/275 April 3‚ 2015 Barry Adkins Statistics in Business Statistics is all about collecting numerical data‚ organizing it‚ and interpreting the data to form hypothesis. While interpreting the data we are able to draw all kinds of conclusions from weather forecasts to how much money a company is projected to make over the next year. There are different types of statistics that can be used for different outcomes. You have to first identify the
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QMT2033 BUSINESS STATISTICS Assignment for mid -term break 1. Most of the information technology developers claim that wireless connection would give speed of at least 11 Mbps compared to wired connection. A sample of 105 computers using wireless connection shows it gives a mean of 11.7 Mbps and a standard deviation of 2.3 Mbps. a) Do you think that the wireless usage should be implemented? Test at 7% significance level). b) Repeat the test by using p-value approach. 2. A jack is usually used
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Case Problem 1: National Health Care Association(Descriptive Statistics) The National Health Care Association is concerned about the shortage of nurses the health care profession is projecting for the future. To learn the current degree of job satisfaction among nurses‚ the association has sponsored a study of hospital nurses throughout the country. As part of this study‚ a sample of 50 nurses was asked to indicate their degree of satisfaction in their work‚ their pay and their opportunities for
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BE01106 - BUSINESS STATISTICS ASSIGNMENT – PART I SEMESTER 2‚ 2014 _________________________________________________________________________ The complete BEO1106 assignment (all three parts) accounts for 20% of the overall assessment in the unit. This first part of the BEO1106 assignment is to be completed in your own time and must be submitted for correction in the tutorial of week 6. No time extensions will be granted although special consideration applications may be accepted from students
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Manager needs some essential skills to carry out duties and issues. Robert L. Katz (1993) has identified three basic skills for manager to possess and how these skills bring rewards to manager. These skills are a big challenge for manager because managers need to make an effort to develop the skills and make them become natural. A top level manager is supposed to make good use of the three basic skills and enhance them. These are technical skills‚ human skills and conceptual skills. Technical skills play
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Omkar & Yaying Wednesday 5-6pm WEEK 3 BES PASS Descriptive Statistics Population - a set of all possible observations. Sample - a portion of a population. We often use information concerning a sample to make an inference (conclusion) about the population. Parameter - describes a characteristic of the population‚ eg: the population variance Statistic- describes a characteristic of a sample‚ eg: the sample variance Frequency Distribution and Histograms Class - a collection of
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the mean. Mean is the average of all the data. Mode is the number that occurs most frequently in the data set. Median is the middle value or average of the two middle values when the data is arranged in order from smallest to larges. Chapter 4: Basic Probability Concepts:In an organization of 30 people‚ we wish to elect 3 officers. How many different groups of officers are possible? 30*29*28=24‚360 (if only 1 person per office). Or 30*30*30=27‚000 (if 1 person can hold more than one office)
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------------------------------------------------- Introduction: This data set we have been assigned to analyze highlights the fuel-efficiency of the mentioned cars relative to several other variables. One of the major issues most stressed upon to date is the ever-increasing threat of environmental degradation‚ global warming‚ and the need to conserve our scarce natural resources. This has led us to examine the fuel efficiency of cars. With rising gas prices‚ owning a car can become quite costly
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Q1 In a test given to 500 students‚ the average marks was 56 and the standard deviation was 20. Find (i) the number of students exceeding a score of 60. (ii) the number of students having marks between 50 and 70. (iii) the value of marks exceeded by the top 100 students. Answer-------- (i) number of students exceeding a score of 60=210 (ii) The number of students having marks between 50 and 70=188 (iii) The value of marks exceeded by the top 100 students=73 Q2. Following
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for each observation. These are found by subtracting the mean value from the selected value and dividing by the standard deviation. The Normal Probability Distribution Find an example of application of probability theory in your workplace or business. Show that the reasons that your workplace uses probability analysis‚ such as probability of risk calculations or percent defects or percent for pass or fail of a
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