Questions from Business Statistics

Q: Continue to view this database as the sample space as in databaseexercise1

Continue to view this database as the sample space as in databaseexercise1.Consider the two events“ high experience (6 years or more)” and “female.” a. Find the probabilities of these two events. b. F...

Q: Which of the five basic activities of statistics is represented by each

Which of the five basic activities of statistics is represented by each of the following situations? a. A factory’s quality control division is examining detailed quantitative information about recent...

Q: Your firm has decided to sue an unreliable supplier. What kind

Your firm has decided to sue an unreliable supplier. What kind of analysis would be used to estimate the forgone profit opportunities based on the performance of competitors, the overall state of the...

Q: For each of the following data sets, say whether it is

For each of the following data sets, say whether it is primary or secondary data. a. U.S. government data on recent economic activity, by state, being used by a company planning to expand. b. Producti...

Q: Classify a data set found on the Internet consisting of sales,

Classify a data set found on the Internet consisting of sales, profits, and number of employees for 100 banking firms. Be sure to provide standard information about the number of variables, who contro...

Q: Why is it worth the effort to learn about statistics?

Why is it worth the effort to learn about statistics? a. Please answer for management in general. b. Please answer for one particular area of business of special interest to you.

Q: Why is a confidence interval more useful than an estimated value?

Why is a confidence interval more useful than an estimated value?

Q: What is a data set?

What is a data set?

Q: What distinguishes data mining from other statistical methods? What methods,

What distinguishes data mining from other statistical methods? What methods, in addition to those of statistics, are often used in data mining?

Q: Differentiate between time-series data and cross sectional data.

Differentiate between time-series data and cross sectional data.