Describe a business situation, where mean and standard deviation can be used in decision making. Describe how calculation of mean and standard deviation can help in making a decision.
What are the various methods one can use to identify the shape of data distribution collected for research study? Why it is important to know the shape of distribution? How it can be used in decision making? Provide examples.
Select an article from a news magazine or research journal where data is displayed in a pie or bar chart. Describe the data displayed in the chart and what conclusion you could draw