Business Statistics - QNT 561 - WK 1 Questions

User Generated

ynqlwrff

Mathematics

Description

Answer the 8 questions below, each question minimum of 80 words. Must be in APA format, please identify the questions on paper. Cannot accept more than 5% plagiarism, it will be submitted to TurnItIn

References: Ken ,Black. (2016). Business Statistic For contemporary Decision Making 9th Edition

Feel free to use more than one reference.

Ch 1 - introduction to statistics

1. Think about the four common levels of data measurement: nominal, ordinal, interval and ratio. Choose two and provide an example of each. Illustrate your answer with examples as needed.

2. Define important statistical terms, including population, sample, and parameter, as they relate to descriptive and inferential statistics.

3. Explain the difference between variables, measurement, and data.

Ch 3 - Descriptive Statistics

4. Give an example of descriptive statistics that could be found at Starbucks. Give an example of how inferential statistics could be used by Starbucks. Compare the two examples. What makes them different?

5. Describe a data distribution statistically and graphically using skewness, kurtosis, and box-and-whisker plots.

Ch 4 - Probability

6. Relative frequency is one of the three methods for calculating probability. Suppose you are the Manager of a Starbucks Store, provide an example of probability using the relative frequency method for a common event or occurrence in your store location. Detail and discuss your example with metrics and provide the final probability.

7. Describe what probability is and when one would use it.

8. Calculate conditional probabilities with various forms of the law of conditional probability, and use them to determine if two events are independent.

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

Attached.

Running head: STATISTICS

1

Statistics
University
Name
Date

STATISTICS

2

Statistics
1. Think about the four common levels of data measurement: nominal, ordinal, interval
and ratio. Choose two and provide an example of each. Illustrate your answer with
examples as needed.
Nominal scales are traditionally used when variables do not have quantitative value and must
be labeled. An example of nominal scales may be what is your gender or what color are your
eyes? There is no overlap with respect to the scale and there are no numbers associated with the
scale (Velleman & Wilkinson, 1993).
Interval scales are unique because they order and precise differences between the values are
known. An example revolves around a thermometer that measures in Celsius. The order of
degrees is known: 10, 20, 30, 40....; however, the difference between 10 and 20 degrees can be
measured as 10 degrees, which is the same between 50 and 60 degrees (Velleman & Wilkinson,
1993).
2. Define important statistical terms, including population, sample, and parameter, as
they relate to descriptive and inferential statistics.
There are important statistical terms that should be understood by someone working with
statistics such as population, sample, and parameter. A population is any group of completed
data with a minimum of one characteristic that relates to all. Additionally, the populat...


Anonymous
Great! 10/10 would recommend using Studypool to help you study.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Related Tags