Wk4 DQ1 Discussion Question 1 A point estimate is a single value (statistic) used to estimate a population value (parameter), explain this statement with example. Dr. Susan Benner is an industrial psychologist. She is currently studying stress among executives of Internet companies. She has developed a questionnaire that she believes measures stress. A score above … Read more
Wk3 DQ2 | Discussion Question 2 | Checked by Turnitin Define Central Limit theorem and its important in statistics. Suppose your statistics instructor gave six examinations during the semester. You received the following exam scores (percent correct): 79, 64, 84, 82, 92, and 77. To compute your final course grade, the instructor decided to randomly … Read more
Wk3 DQ1| Discussion Question 1 |Checked by Turnitin What are the differences between Binomial Distribution and Poison Distribution? A recent CBS News survey reported that 67% of adults felt the U.S. Treasury should continue making pennies. Suppose we select a sample of 15 adults. a. How many of the 15 would we expect to indicate … Read more
Discussion Question 2 – (CLOs covered : 1, 2) Horwege Electronics Inc. purchases TV picture tubes from four different suppliers. Tyson Wholesale supplies 20% of the tubes, Fuji Importers 30%, Kirkpatricks 25%, and Parts Inc. 25%. Tyson Wholesale tends to have the best quality, as only 3% of its tubes arrive defective. Fuji Importers’ tubes … Read more
Difference between Binomial and Poisson Distribution | Discussion Question | Week 3 Basis Binomial Distribution Poison Distribution Definition Binomial distribution is defined as one of the types of probability distribution in which the probability of repeated number of trials is studied. Poisson Distribution is defined as one of the types of probability distribution … Read more
Note: Only for Reference In the second week of our course, we completely covered two chapters (3, 4) and started chapter 5 from our course of Data Analysis and Business Intelligence where we discussed the various topics like measures of location (mean, median, mode), measures of dispersion (range, standard deviation, variance), various charts (dot plots, … Read more
Note: Only for reference In the first week of our course, we dealt with three chapters which included basic concepts of Statistics, its use in our daily life and business, types of statistics, types of variables, different data levels of measurement (nominal, ordinal, interval and ratio), frequency tables and distribution, etc. We also discussed the … Read more
Note : Only For Reference In the first week of our course, we dealt with the basic concepts of Statistics which included its use in our daily life and business, types of statistics, types of variables, and different levels of measurement (nominal, ordinal, interval and ratio).We also discussed practice of statistics should be guided by … Read more
Primary Data is the original and fresh data or we can say the first-hand data collected for the specific purpose of the study and it happened to be original in character. These data have not been previously assembled or collected for any known project.
Primary data are usually collected by conducting a sample survey or experiment, and the data generated by these methods are correspondingly called survey data and experimental data.
➦ Difference Between Descriptive and Inferential Statistics: Statistics is the art of collecting, analyzing, presenting, and interpreting data. Statistics is sub-divided into two categories:
The hypothesis is the tested relationship between two or more two variables. The structure or format of hypothesis formulation depends upon the nature of the relationship predicted by the researcher.