Business Statistics help

SoccerBoss
Category:
Statistics
Price: $5 USD

Question description

Statistics Pitfalls

As a person who understands and uses statistics to solve problems in business you know that you must use the right statistical tool to compare data against theories.  If the data doesn’t support the theory under investigation, you either reject or revise your theory.  (You don’t revise the data!)

However, you understand that pitfalls may exist in the data collection process and the reasoning process. For instance, you know to watch for:

1.  Making conclusions about a large population from a small sample.

2.  Making conclusions from nonrandom samples

3.  Attaching importance to rare observations

4.  Using poor survey methods

explain/discuss each pitfall and how it might impact good problem solving in the business environment.  You may write a short narrative of 250 words 

Tutor Answer

(Top Tutor) Daniel C.
(997)
School: Duke University
PREMIUM TUTOR
Studypool has helped 1,244,100 students
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1819 tutors are online

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors