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Statistics can be defined as “ the science that deals with the collection, classification, analysis, and interpretation of numerical facts of data, and that, by use of mathematical theories of probability, imposes order and regularity on aggregates of more or less disparate elements” (Dictionary.com, LLC, 2008). Yet how do we use these specific elements in our everyday working lives? Many don’t realize the extent to which we as a culture base our decisions on statistics. We us them in something…

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Statistics in Business Debbie Masterson University of Phoenix Statistics for Decision Making QNT/275 Charlene Dunfee December 13, 2014 Statistics in Business In today’s very competitive and global economic climate, it is ever more important for businesses to have reliable data to predict and plan. Definition of Statistics and Role in Decision-Making Statistics are the collection, presentation and interpretation of data. Statistics is a branch of mathematics and is a mathematical analysis…

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Statistics in Business QNT 351 August, 2012 University of Phoenix What are Statistics? Statistics is the science involved in the application of quantitative principles to the collection, description, interpretation, and presentation of numerical data, as well as the meaning of collected data within the realm of business, and is also commonly used for marketing procedures. Statistics generally deals with the main business elements and the planning process of the data that have been collected…

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the governors were 44, 36, 52, and 40 square feet. The figures for the CEOs were 32, 60, 48, 36 square feet. a. Figure the means and standard deviations for the governors and CEOs. b. Explain, to a person who has never had a course in statistics, what you have done. c. Note the ways in which the means and standard deviations differ, and speculate on the possible meaning of these differences, presuming that they are representative of U.S. governors and large corporations’ CEOs in general…

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Statistics Statistics is defined as the mathematical science study of collection, organization, analysis as well as interpretation of numerical information from a given set of data (American Statistical Association, 2013). Types of statistics There are basically two types of statistics that are commonly used in science, mathematics and even business; the descriptive statistics and the inferential statistics. Descriptive statistics: this organizes, describes and summarizes information from…

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The Role of Research and Statistics in the Field of Psychology Abstract Research and statistics are essential elements within the field of Psychology. Through the evolution of technology, the task of conducting adequate research and statistics methods have become abundant in methodology. Because of such, research collection and experimentation approaches of researchers and Psychologists, greatly vary in specificity. However, one method reigns true and consistent, and that is the Scientific…

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BUSINESS STATISTICS ASSIGNMENT Project Title: Employee retention at D&Y consulting firm Section E: Group 2:Anshul Garg (11FN-015)-Finance Gokul Sudhakaran(11DM-039)-Marketing Kaviya .A. (11DM-057)- Marketing Nikhil Gagrani(11DM-089)- Marketing Sheth Dharmil Nirupam(11DM-147)-Marketing Taru(11IB-061)-International Business Submission Date:- 9th September,2011 TABLE OF CONTENTS 1. Case 2. Objective…

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Descriptive and Inferential Statistics Paper PSY 315 Descriptive and Inferential Statistics Whether doing original research or conducting literature reviews, one must conclude what a powerful and versatile tool statistics are in the hands of researchers. From basic statistics such as data description, to using complex statistical methods to foresee future patterns or strengthen scientific claims about current climates, the role of statistics in research cannot be taken lightly and is essential…

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Introduction Purpose of this Project,to find out the releationship between population and the square of countries is tried to be understood. This Project includes 129 observations and 30 samples.We tested with 95% cofidence interval Step 1:State null and alternate hypotheses Step 2:Select a level of significance Step 3:Identify the test statistic Step 4:Formulate a decision rule Step 5:Take a sample,arrive at a decision Step 1 Hypothesis Test: Ho:The average population of countries is equal…

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Since the beginning of time research and statistics have exercised a vital role in psychology. In this succinct writing an elaboration of how research and statistics are utilized in psychology is revealed. Furthermore, the how and why of such components are expounded herein and a detailed look at primary and secondary data are exposed. Research, statistics, primary, and secondary data are imperative in psychological analysis. Implementing each of these variants in psychological research may…

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the 30-year mortgage rate for small banks is less than 6 percent? Estimate the p-value. Chapter 11 27. A recent study focused on the number of times men and women who live alone buy take-out dinner in a month. The information is summarized below. Statistic Men Women Sample mean 24.51 22.69 Population standard deviation 4.48 3.86 Sample size 35 40 At the .01 significance level, is there a difference in the mean number of times men and women order take-out dinners in a month? What is the p-value? 46…

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better decisions when they use all available information in an effective and meaningful way. The primary role of statistics is to to provide decision makers with methods for obtaining and analyzing information to help make these decisions. Statistics is used to answer long-range planning questions, such as when and where to locate facilities to handle future sales. 2 Definition s Statistics is defined as the science of collecting, organizing, presenting, analyzing and interpreting numerical data for…

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mean Xbar1=42,and a sample standard deviation of S1=4,and you have an independent sample of n2=15 from another population with a sample mean of Xbar2=34 and the sample standard deviation S2=5. (a)what is the value of the pooled-variance t STAT test statistics for testing H0:Mean1=mean2? (b)In finding the critical value t alpha/2,how many degrees of freedom are there? ( c)Using the level of significance beta=0.01,what is the critical value for a one-tail test of the hypothesis Ho:mean1greater than mean…

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randomly selected, 42% of this random selection out of the total population of restaurants possessed series health code violations. 2. Determine whether the given value is a statistic or a parameter. A. A researcher determines that 42.7% of all downtown office buildings have ventilation problems. Is this a statistic or a parameter; explain your answer. Answer: The identification of 42.7% of all the downtown office building of which possess ventilation problems serves as the population parameter…

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there are approximately 126,000 abortions conducted each day throughout the world. This website includes the abortion statistics of the world and breaks the data down to the demographics of the United States. It also discusses the decisions to have an abortion and the use of contraceptives in the United States. This was an informative website and included detailed statistics conducted by the Alan Guttmacher Institute. According to the website http://www.bls.gov/cps in 2000, gon average there…

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failure? b. If the temperature at launch was 63 F, what are the estimated odds of an O-ring failure? c. What is the probability of an O-ring failure at 63 F? d. What is the 95% conﬁdence interval estimate of the true slope β1 ? 1 2. A research project studied the physical properties of wood materials constructed by bonding together small ﬂakes of wood. The two factors considered were the size of the ﬂakes and species of tree. The sizes of the ﬂakes were S1: 0.15 inches by 2 inches and S2: 0.25…

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mortgage balance. Use a test statistic approach with a = 0.025. (5 marks) Solution 1: a) Determine if the sample size for the test in part b is large enough to warrant approximating the sample proportion’s distribution with a normal distribution. Step 1 nπ = 2500 .75 = 1875>5; 1−π =625>5 b) Use this information to determine if less than 75% of new mortgages had a loan amount at least 5% above the original mortgage balance. Use a test statistic approach with α=0.025…

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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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Final Project: Nyke Shoe Company Barbara Greczyn STA 201 - Principles of Statistics Instructor Alok Dihtal April 26, 2015 Introduction Nyke Shoe Company has been in business for over 50 years. Over the last five years, the company has been undergoing some financial hardship due to an erratic market and an inability to understand what the consumer actually needs. In a last ditch effort to avoid bankruptcy, they have adopted a new business model which entails the development…

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less than -0.5. D ?The answer cannot be determined from the information given. 7. The data in the Excel spreadsheet linked below gives the average monthly price of gold (in dollars per ounce) for the years 1980 to1983. ??Which of the following statistics measures gold price variation in the same units as gold price itself (i.e., dollars per ounce)? A. ?The standard deviation. B ?The variance. C ?The coefficient of variation. D ?None of the above. 8. The data in the Excel spreadsheet linked…

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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 product, etc. In my company, I do groundwater sampling for remediation projects. When we are finished, we send our samples to a laboratory via FedEx or UPS. The laboratory reports that approximately 2 bottles are broken in every cooler shipped, regardless of how well they are packed. To perform sample analysis, the laboratory…

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MM207 Final Project Name: Eddie S. Jackson 1. Using the MM207 Student Data Set: a) What is the correlation between student cumulative GPA and the number of hours spent on school work each week? Be sure to include the computations or StatCrunch output to support your answer. My answer : 0.27817234 (from StatCrunch): Correlation between Q10 What is your cumulative Grade Point Average at Kaplan University? and Q11 How many hours do you spend on school work each week? is: 0.27817234 b)…

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Genetics website: HYPERLINK "http://www.ndsu.edu/pubweb/~mcclean/plsc431/mendel/mendel4.htm" http://www.ndsu.edu/pubweb/~mcclean/plsc431/mendel/mendel4.htm How would you explain the analysis of variance, assuming that your audience has not had a statistics class before? (75 words) Analysis of variance (ANOVA) is a collection of statistical models that help explain variance in a variable. They explain the variance by dividing a variable into smaller component parts. ANOVAs can be used to compare the…

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Rape Statistics Working at a Historic Black College/University (HBCU) for the past three (3) years, I just recently came in contact with a rape victim. I’ve seen the shows but never thought, I would be a person to come in contact with one. Talking to the different individuals involved with the student case, I decided to do my research paper on rap victim. Specifically, I am looking at how the likelihood of being the victim of a violent crime in the United States is related to gender and race…

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and Binomial; 7) Identify significant changes in averages and proportions 8) Determine if two populations have the same mean or the same proportion ; and 9) Determine if several populations have the same mean. Required Text and Software Textbook: STATISTICS FOR MANAGEMENT AND ECONOMICS, 9th EDITION, by G. KELLER, 2012. (ISBN 10 digit: 0538477490 / ISBN 13 digit: 980538477499) This is the required edition of the text. Any other editions will have different problems and/or chapter topics. Since your…

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Descriptive and Inferential Statistics Statistical methods in psychology have two main branches, which are descriptive and inferential. They each play a major part in the data that is collected for research and other studies. This paper will show the functions of statistics, how descriptive and inferential statistics are defined and the relationship between the two. Statistics is a necessary tool in psychology. It provides data for research studies as well as providing background information and…

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Statistics Taken Out Of Context There are statistics of any topic you can think of. Nine out of ten people say this. Such and such percent approve or disapprove of this product. But, are these statistics true? Or, did someone twist the statistics around so we may believe them? Either way the more statistics are fed to people the more people believe them. In the article, it was explained how statistics were taken out of context for drugs that are tested on animals. The author takes statistics…

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Palban BSMA - 2 HISTORY OF STATISTICS The history of statistics can be said to start around 1749 although, over time, there have been changes to the interpretation of the word statistics. By the 18th century, the term "statistics" designated the systematic collection ofdemographic and economic data by states. In the early 19th century, the meaning of "statistics" broadened to include the discipline concerned with the collection, summary, and analysis of data. Today statistics is widely employed in government…

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Bottlenecks and Statistics Bottlenecks in processes can and often do exist in any organization and workplace setting, including in nursing settings. The bottlenecks identified in this case are delivery of service, staff buy in, leadership role, and follow through; though these are all problems for learning and development processes in the nursing unit they are not all equal in their prevalence or their effects. In order to effectively manage the different bottlenecks and the potential remedies…

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Executive Summary Business Statistics In this assignment I compiled the data of the Nissan GT-R 3.8 (R35). The Data collected includes the age, type and price which allowed me to make a statistic about how the age affects the price of this certain model over several years. I will be using the correlation regression and scatter diagram to get the regression line. As we can see, the price drops the elder the car is. Inside the range of the diagram the prediction might be accurate. So we can tell very…

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Definition of statistics: Statistics is the science of learning from data, and of measuring, controlling, and communicating uncertainty; and it thereby provides the navigation essential for controlling the course of scientific and societal advances (Davidian, M. and Louis, T. A., 10.1126/science.1218685). Statisticians apply statistical thinking and methods to a wide variety of scientific, social, and business endeavors in such areas as astronomy, biology, education, economics, engineering, genetics…

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MM207 Statistics Unit IV Mid Term Project 1. In the following situation identify the implied population. A recent report on the weekly news presented the findings of a study on the effectiveness of Onglyza, along with diet and exercise, for treating diabetes. According to Bennett (2009), a population is defined as “the complete set of people or things being studied” in a statistical study. Given that the information is in relation to finding the success of a drug used to care for…

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STATISTICS PROJECT The balance is a interval, numerical and continuous variable. The ATM is a ratio, numerical, discrete variable. Services is a ratio, numerical, discrete variable. Debit, interest and city are a categorical, nominal variable. As the graph, shows below, the balance of the typical customer, otherwise known as the mean is equal to 1499.87. 12 customers have more than $2,000 in their account. This number is relatively high because the account balances tend to cluster between…

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PROJECT C MATH 533 INSTRUCTOR Prof AMIR SADRAIN 1. Generate a scatterplot for CREDIT BALANCE vs SIZE Regression Analysis: Credit Balance ($) versus Size 2. Determine the equation of the "best fit" line, which describes the relationship between CREDIT BALANCE and SIZE. There is a slight positive relationship between credit balance and size The regression equation is Credit Balance ($) = 2591 + 403 Size 3. Determine the…

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Q1. When would you use descriptive over inferential statistics? Provide a specific scenario and explain your rationale. "Descriptive statistics is the term given to the analysis of data that helps describe, show or summarize data in a meaningful way such that, for example, patterns might emerge from the data" (Understanding descriptive and inferential statistics, 2012, Laerd). Examples of descriptive statistics include an analysis of central tendency (the position of most members of the group in…

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Research Statistics and Psychology Paper Roberta Parker PSY/315 June 10, 2011 Dr. Julie Wilson Research Statistics and Psychology Paper Research plays a major role in psychology, which research is understood through statistics. Psychologists depend on research to understand theories and to understand how people behave, think, and feel. Research needs to be organized to be understood by psychologists; therefore statistics help organize the information and make the connection between the research…

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Statistics Experiment For my maths coursework I will be conducting an investigation into statistics. I had a choice for this coursework of both statistics on year 10 to 11 school children, and facts about them and also their likes in terms of sport and subjects at school. I chose not to do this project on that information; instead I chose data on 100 different cars, the reason for this is that I like cars more and may perhaps pursue it as a career. I did not want to…

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Ethics / Business Statistics Integration Paper Zhiqin Quayle Grand Canyon University: SYM - 506 June 24th, 2013 Introduction The assigned readings “A Christian View of the Foundations of Statistics” and “Reflection Before Action” both talked about ethical issues Christian and non-Christian statisticians face these days. Before I get into the details of how these two articles affect me, I would like to first summarize some common ethical issues statistical consultants are facing these days. In…

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ASSIGNMENT: Ethics in Statistics There are a number of possible ways in which unethical behavior can arise in statistics and researchers should steer clear of these. It is relatively simple to manipulate and hide data, projecting only what one desires and not what the numbers actually speak, thus giving birth to the famous phrase “Lies, damned lies and statistics”. However, this doesn’t happen all the time and there is no reason not to believe in the conclusions of a statistical analysis (Siddharth…

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Department of statistics Statistics for Business, Stat 130 Midterm exam November 15, 2011 Form B Name: | I.D. Number: | Instructions: * Write your name and student ID. * You have one hour and thirty minutes to complete the exam. * You may use a formula sheet and a calculator. No other outside materials are allowed. * There are seven problems in the exam. * Total score of points is 20. Problem 1:(5 points) Multiple-choice questions: Question 1: If A and B are mutually exclusive…

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STATISTICS AND DECISION-MAKING IN HRM (word count 1155) The word statistics has a Latin origin where the word status means state. Statistics is defined as the science that helps us understand how to collect, organize and interpret numbers or other information (data) about some topic (Bennett, et al., 2003). It is a discipline of data collection and summarizing to aid understanding and decision-making. It is also concerned with evaluation of the present status and predicting the future (Stockberger…

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sciences and has become standardized in some fields like psychology (Field, 2005). Researchers can use SPSS to input the raw data from their research designed and the software can compute a practically limitless set of statistics based on those raw figures and inputs. Basic descriptive statistics such as frequency and rates of distribution are obviously available, as are various ratios that can be drawn from the data. Simple correlations can therefore be drawn. However, there are many more robust uses for…

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presenters to facilitate viewers’ understanding. Those graphs and charts including news and information are called statistics. In other words, according to John Slaght, Paddy Harben and Anne Pallant, authors of English for Academic Study, Reading and Writing Source book, statistics refers to “ collections of data gathered” by research methods ( Slaght, Harben & Pallent, 2010, 29). Statistics could be used to prove any topic, to summarize, or to predict what is likely to happen. More important thing is…

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Statistics are necessary for scientific research because they allow the researchers to analyze empirical data needed to interpret the findings and draw conclusions based on the results of the research. According to Portney and Watkins (2009), all studies require a description of subjects and responses that are obtained through measuring central tendency, so all studies use descriptive statistics to present an appropriate use of statistical tests and the validity of data interpretation. Although descriptive…

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DS BST 322 Independent Project Background of the study: The data in the dataset comes from a longitudinal study of low-income women in four urban communities. In the original study, extensive information was collected in 1999 (Wave 1) and 2001 (Wave 2) from about 4,000 women. A major purpose of the study was to understand the life trajectories of these women and their children during a period of major changes to social policies affecting poor people in the United States. The sample…

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checked. The Null or Alternative Hypothesis will be accepted or rejected on the basis of a statistical analysis, which will be used to analyse the median percentage of damaged cells got from the brick and tile operations. Table 1: Descriptive Statistics of brick and tile operation workers percentage damaged cells Variable | N | N* | Mean | SE Mean | St: Dev. | Minimum | Q1 | Median | Q3 | Maximum | % Damaged cells of Tile operation | 27 | 0 | 1.337 | 0.210 | 1.090 | 0.200 | 0.600…

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grams. D) 95% of reduced fat cookies have between 3.4 and 5 grams of fat. E) 95% of the cookies in the sample had between 3.4 and 5 grams of fat. Determine the margin of error in estimating the population parameter. 12) How tall is your average statistics classmate? To determine this, you measure the height of a random sample of 15 of your 100 fellow students, finding a 95% confidence interval for the mean height of 67.25 to 69.75 inches. A) 1.5 inches B) 0.25 inches C) 1.06 inches D) 1.25 inches…

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Section 1.1 - Introduction to the Practice of Statistics 1. Explain the difference between a population and a sample. A population is the entire group to be studied and a sample is a portion of the population. 2. Explain the difference between a parameter and a statistic. A statistic is a numerical summary of a sample and a parameter is a numerical summary of a population. 3. What is Descriptive Statistics and how is it used? Descriptive statistics describes the results of a sample without…

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1. Include a summary for each variable in the data set. Make comments and interpretations based on maximum and minimums, well as the appropriate means and proportions. What new insights do these descriptive statistics provide concerning Asia-Pacific business schools? Analysis: 1. Full time enrolment is highest in Indian Institute of Management (Calcutta), 463 and lowest in Macquaire Graduate School of Management (Sydney),12 as per data available from the full time enrolment. They are far above…

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