DifferenceYou are a marketing analyst in a large grocery store chain. Your job entails developing a robust customer knowledge base utilizing the company’s vast database of in-store purchases. To date, you have been able to build a profile of your customer base, draw inferences about different customer groupings, and compare customer behaviors across the different sales regions. Your task is to:Describe the business benefits of parameter estimation. Provide examples of the type of parameters that might be of interest to decision makers in areas such as marketing.Elaborate on how being able to estimate those parameters would benefit the quality of the resultant decisions.Describe the business benefits of drawing inferences—specifically, when it is advantageous to rely on inferences and what is required to ascertain the correctness of inferences.Discuss the relationship between tests of difference and hypothesis testing in the context of designing marketing promotions.Submit your answers in a 2- to 3-page Microsoft Word document.Name your document SU_MBA5008_W3_A2_LastName_FirstInitial.doc.

Your final project entails systematic extraction of decision-aiding insights out of a dataset (SampleDataSet.xlsx) provided to you in the Doc Sharing area.In this section, you will carry out the following basic estimation and tests of differences using the provided SampleDataSet.xlsx:Identify three continuous and three discrete variables and describe their distribution numerically (e.g., central tendency, spread) as well as graphically. Compare the results.                 Using the variables selected, conduct all possible t-tests and chi-squared tests. Describe your findings. In addition, discuss how data limitations (e.g., missing values, etc.) can affect the validity and reliability of statistical estimations and tests of differences. Be specific. Show your work using Microsoft Excel and import your work into a Microsoft Word document.Submit your response with imported Microsoft Excel work in a 3- to 4-page Microsoft Word document.Name your document SU_MBA5008_W3_A4_LastName_FirstInitial.doc.

Many times trade-offs are necessary to increase productivity. What are important trades-offs involving the inputs to productivity? Your initial post should include real life situations and be at least 200-250 words. What important organizational activities enable a firm to build quality into its products? Explain each of these along with its benefits. Your initial post should include examples and be at least 200-250 words.