Applied Statistics in Business and Economics Ch 1

Due to financial hardship, the Nyke shoe company feels they only need to make one size of shoes, regardless of gender or height. They have collected data on gender, shoe size, and height and have asked you to tell them if they can change their business model to include only one size of shoes – regardless of height or gender of the wearer. In no more 5-10 pages (including figures), explain your recommendations, using statistical evidence to support your findings. The data found are below:

 Inferential statistics helps us to analyze predictions, inferences, or samples about a specific population from the observations that they make. “With inferential statistics, you are trying to reach conclusions that extend beyond the immediate data alone” (Trochim, 2006). The goal for this type of data is to review the sample data to be able to infer what the test group may think. It does this by making judgment of the chance that a difference that is observed between the groups is indeed one that can be counted on that could have otherwise happened by coincidence. In order to help solve the issue of generalization, tests of significance are used. For example, a chi-square test or T-test provides a person with the probability that the analysis’ sample results may or may not represent the respective population. In other words, the tests of significance provides us the likelihood of how the analysis results might have happened by chance in a scenario that a relationship may not exist between the variables in regards to the population that is being studied.

At 5% level of significance, is there sufficient evidence to conclude that the proportions of errors in transactions assigned to each of the 5 memory locations are all different?

(1) A study of the number of cars sold looked at the number of cars sold at 500

• Provide at least two examples or problem situations in which statistics was used or could be used.

The goal of inferential statistics is to end up rejecting the null hypothesis and concluding that a significant relationship exists; therefore, the null hypothesis always presume no relationship.

12. Which of the following answers are true about an internal hard disk drive (HDD) as it is

Assume 20% of all email is spam. A large Internet provider plans on conducting a survey of 900 emails to see what percentage are spam.

To view the research on a nominal scale, the research data can be drawn from the type of class. The word nominal is derived from the root word in Latin for name (Usable Stats, 2013). The name of the class, Psychological Statistics, is the nominal measurement for this research. When conducting this study, the study will only be measured during the course of this specific class. The results could drastically change when considering another type of class such as Quantitative Literacy as the cognitive understanding of such a collegic math class may be more optimal through a different course-delivery format.

A statistic is a numerical summary of a sample and a parameter is a numerical summary of a population.

Define and explain research and define and explain the scientific method (include an explanation of all five steps). Proper

A theory often used in the research of individual health behavior and behavioral intentions is the theory of planned behavior (Ajzen, 1991). According to this theory, the performance of any behavior depends on behavioral intention. Behavioral intention is viewed as being dependent on behavioral beliefs (e.g., attitude towards the behavior), normative beliefs, and control beliefs. Normative beliefs are beliefs about the expectations of others, and control beliefs are beliefs about the factors that may help or hinder the performance of the behavior. The framework for the study of physical activity discussed earlier by Armitage (2005) is based on this theory. That study found that behavioral beliefs, normative beliefs, and control beliefs all contribute to physical activity behavior.

A pharmaceutical company is testing the effectiveness of a new drug for lowering cholesterol. As part of this trial, they wish to determine whether there is a difference between the effectiveness for women and for men. Using   = .05, what is the value the test statistic?

Statistics is a mathematical science pertaining to the collection, analysis, interpretation or explanation, and presentation of data. It is applicable to a wide variety of academic disciplines, from the physical and social sciences to the humanities. Statistics are also used for making informed decisions – and misused for other reasons – in all areas of business and government. Statistical methods can be used to summarize or describe a collection of data; this is called descriptive statistics. In addition, patterns in the data may be modeled in a way that accounts for randomness and uncertainty in the observations, and then used to draw inferences about the process or population being studied; this is called inferential statistics. Both

Major League Baseball is known as America’s favorite pastime, and MLB teams spend an extensive amount of money in the excess of a billion dollars with the ultimate goal to win the World Series. This learning team’s focus throughout this descriptive statistics paper is the MLB players’ performances, salaries, salary caps, and winning percentages. Though salaries will by no means be a trade for wins, the goal is to use the less experienced players and pay them a lower salary. Research has been done on whether or not player’s salaries and wins are connected.