If a manager relies on his/her gut instinct to make critical business decisions, this is an example of business analytics in action.
Q: Explain how causal effects can be estimated that depend on observables?
A: Causal effect means something has happened or is occurring, depending on something that has occurred…
Q: How forecasting is quite different from the estimation of causal effects.?
A: Time series data is commonly used to forecast. For example, economic growth for next year is…
Q: . Are the data consistent?
A: Given: Total no of person =500 Nonof person preferred variety A = 400 Nonof person preferred…
Q: What are the different types of data?
A:
Q: Describe two ways economists try to forecasts developments in the economy
A: * An economic forecast is a process of trying to predict a future economic situation using a…
Q: mode can be more than one in a data set but medium cannot.explain in two lines.
A: Mode: Mode is the most frequent observation in the data set. So, it is possible to have more than…
Q: The patient was 62 years old. B) The patient did not visit the emergency room. C) The patient was…
A: DISJOINT EVENTS Two events A and B are said to be disjoint, if it is impossible for both of them to…
Q: In your position as a chief credit officer for a large department store chain, you must decide how…
A: The display or visualization of data plays an important role in the real world. There are a number…
Q: write down the method of data collection from primary and secondary sources
A: Solution : Method of data collection from primary and secondary sources : 1) Primary Data :…
Q: How can surveys be used to address descriptive and/or causal research questions? What are some of…
A:
Q: highlight the KEY lessons of probability and statistics relevant to business decision making
A: Statistics is the branch of applied Mathematics in which we do collection, analysis, interpretation…
Q: what is statistics- future scenarios in terms of doing project management?
A: Statistics analysis-future scenario helpful in estimation of expecting compeletion time of the…
Q: A method of gathering data when individuals are paid to discuss their attitudes towards products or…
A: A method of gathering data when individuals are paid to discuss their attitudes towards products or…
Q: How is statistics used in information systems?
A: statistics is used for data mining ,speech recognition ,vision and image analysis ,data compression…
Q: Which Variable is most important in predicting Accounts?
A:
Q: Explain the concept of Unbiasedness?
A: Unbiasedness states that there is no bias. If the statistics are not an underestimation or…
Q: Why inferential statistic is important for physical activity educators ? Please provide two examples…
A: 1] Inferential statistics is used to make the generalization about the population based on the…
Q: what are the three categories of business analytics
A: Given problem Given that
Q: Explain the difference in how VAR Models are used in performing forecasting and how they are used in…
A: The difference in how VAR Models are used in performing forecasting and how they are used in…
Q: When it comes to statistics, what are variables and operational definitions? What is their purpose…
A: Operational variables usually define and measure a specific variable as it is used in the study.…
Q: Explain the value of the business statistics in management
A: Statistical research in business enables managers to analyze past performance, predict future…
Q: What is Scatterplot?
A: Scatterplot: A scatterplot is a type of data display that shows the relationship between two…
Q: Define Path Analysis?
A: Definition: Path analysis is an extension of the regression model. In a path analysis model from…
Q: What is Meta-analysis?
A: A meta-analysis is a survey in which the results of the studies included in the review are…
Q: Provide three different situations to illustrate how a different measure of central tendency is…
A: Mean Mean is the most widely used measure of Central Tendency that is used in Statistical analyses.…
Q: Explain, using illustrations, how descriptive analytics, diagnostic analytics, predictive analytics,…
A: Descriptive analytics are the analytics who interpret the past data of the business and make…
Q: What is the shape of this data analysis?
A: Given data:
Q: Give me an example of a scientific study of the bug tracking system and extract the methodological…
A: A bug tracking system is an application that lets you keep track of bugs (and often suggestions) for…
Q: Construct a typology of pro-life attitudes
A: Step 1 A typology is a classification of observations in terms of their attributes on two or more…
Q: Does cancer cause cell phones? What variables might confound this data?
A: Logically speaking it doesn't make any sense by the conclusion that the cancer cause cell phones.…
Q: Are graphs effective substitutes for the statistical treatment of data?
A: Contributions to statistical graphics, including effective use of graphs and charts to communicate…
Q: Which are the ultimate tools that are being brought in business analytics?
A: 1. Sisense 2. Zoho Analytics
Q: Provide a reason why the classication of data is important.
A: In this case, we need to find the reason for the importance of data classification.
Q: Explain the most useful methods of data presentation from a manager's point of view in order to make…
A: note : Hi! Thank you for the question, As per the honor code, we are allowed to answer one question…
Q: What is business analytics? Briefly describe the domain of the major fields of business analytics…
A: Business Analytics :- Business analytics, a data management solution and business intelligence…
Q: highly skewed
A:
Q: Your Statistics instructor wants to determine whether students who have previously taken an online…
A: The response variable is also known as the dependent variable.
Q: Provide a reason why the classification of data is important.
A:
Q: What is primary data?
A: In this case, we need to define the primary data.
Q: If a histogram is skewed to the right, explain how this affects the decision making process?
A: In a right-skewed histogram, the tail on the right side is longer than the left side.
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- What is price discrimination? Under what conditions are firms able to exercise price discrimination? Are consumers better off or worse off when they face a price discriminating monopolist rather than a simple monopolist? Why?what is discriminant ?Please provide me a brief explanation but no plagiarism and real world scenarios are must
- A computer manufacturer conducted a survey. It showed that a younger customer will not necessarily purchase a lower or higher priced computer. What is likely true?A serious side effect of allergy medicines is that they cause drowsiness, which can cause many problems for the individuals taking them. In recent years, a new non-drowsy allergy medicine has been developed. The company that created the medicine claims to be the first, once-a-day, non-drowsy allergy medicine (call it Medicine A). An independent research group wanted to check on this claim by comparing medicine A with another allergy medicine not advertised as non-drowsy (call it Medicine B). A random sample of 3,193 allergy sufferers was selected and each individual was randomly assigned to take either Medicine A or Medicine B. From the Medicine A group, 114 of 1,604 reported drowsiness and from the Medicine B group, 155 of 1,589 reported drowsiness. Calculate and label the two sample proportions separately. Next, calculate the difference between these sample proportions by subtracting (Medicine A – Medicine B). Complete these calculations by hand, label each of them, and…The National Association of Realtors estimates that 23% of all homes purchased in 2004 were considered investment properties. If a sample of 800 homes sold in 2004 is obtained and it was noted that 248 homes were to be used as investment property, would this be unusual? Answer either "yes" or "no" and provide the justification for your answer.
- (When your trying to study)WHAT IS THE BEST WAY TO GO ABOUT FINDING A JOB? After completing a college degree, graduates are faced with the important project of finding a job. Options include networking through friends and relatives, pursuing newspaper ads, applying in person, conducting an Internet job search, using a professional employment agency or recruiter, and using a college placement office. Some of these avenues are likely to be much more productive than others. Specifically, networking has been found to be one of the most productive approaches. With networking, a job seeker develops contacts and exchanges information through an informal network of people. One recent survey involved 703 randomly selected subjects who were all working. Among those subjects, 61% said that they found their job through networking (based on data from Taylor Nelson Sofres Intersearch). Another effective approach appeared to be newspaper ads, with 16% of the respondents finding jobs through such ads. Based on these survey…To the Internal Revenue Service, the reasonableness of total itemized deductions depends on the taxpayer's adjusted gross income. Large deductions, which include charity and medical deductions, are more reasonable for taxpayers with large adjusted gross incomes. If a taxpayer claims larger than average itemized deductions for a given level of income, the chances of an IRS audit are increased. Data (in thousands of dollars) on adjusted gross income and the average or reasonable amount of itemized deductions follow. Adjusted Gross Income($1,000s) Itemized Deductions($1,000s) 22 9.6 27 9.6 32 10.1 48 11.1 65 11.5 85 19.7 120 23.5 (a) Develop a scatter diagram for these data with adjusted gross income as the independent variable. A scatter diagram has 7 points plotted on it. The horizontal axis ranges from 0 to 140 and is labeled: Adjusted Gross Income ($1,000s). The vertical axis ranges from 0 to 30 and is labeled: Itemized Deductions ($1,000s). The points are…