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Malnutrition Rises in the costs of living make poor people less able to afford items.
Using the model to find the solution: It is a simplified representation of the actual situation It need not be complete or exact in all respects It concentrates on the most essential relationships and ignores the less essential ones.
It is more easily understood than the empirical i. It can be used again and again for similar problems or can be modified. Fortunately the probabilistic and statistical methods for analysis and decision making under uncertainty are more numerous and powerful today than ever before. The computer makes possible many practical applications.
A few examples of business applications are the following: An auditor can use random sampling techniques to audit the accounts receivable for clients.
A plant manager can use statistical quality control techniques to assure the quality of his production with a minimum of testing or inspection. A financial analyst may use regression and correlation to help understand the relationship of a financial ratio to a set of other variables in business.
A market researcher may use test of significace to accept or reject the hypotheses about a group of buyers to which the firm wishes to sell a particular product.
A sales manager may use statistical techniques to forecast sales for the coming year.
What are the objectives of the study or the questions to be answered? What is the population to which the investigators intend to refer their findings? Is the study a planned experiment i. How is the sample to be selected? Are there possible sources of selection, which would make the sample atypical or non-representative?
If so, what provision is to be made to deal with this bias? What is the nature of the control group, standard of comparison, or cost? Remember that statistical modeling means reflections before actions. Is the method of classification or of measurement consistent for all the subjects and relevant to Item No.
Are the observations reliable and replicable to defend your finding? Are the data sufficient and worthy of statistical analysis?
If so, are the necessary conditions of the methods of statistical analysis appropriate to the source and nature of the data? The analysis must be correctly performed and interpreted. Which conclusions are justifiable by the findings?
Are the conclusions relevant to the questions posed in Item No. The finding must be represented clearly, objectively, in sufficient but non-technical terms and detail to enable the decision-maker e.
Is the finding internally consistent; i. Can the different representation be reconciled? When your findings and recommendation s are not clearly put, or framed in an appropriate manner understandable by the decision maker, then the decision maker does not feel convinced of the findings and therefore will not implement any of the recommendations.
You have wasted the time, money, etc. What is Business Statistics?
The main objective of Business Statistics is to make inferences e. The condition for randomness is essential to make sure the sample is representative of the population. It provides knowledge and skills to interpret and use statistical techniques in a variety of business applications.Mar 09, · 2.) Write an absolute value inequality that contains no solution.
3.)Devon tosses a horseshoe at a stake 30 feet away.
The horseshoe lands no more than 3 feet away from the stake. (a) Write an absolute value inequality that represents the range of distances that the horseshoe travels.(b) Solve the iridis-photo-restoration.com: Resolved.
Analyzes the social causes of gender inequality. Explores origins, economics, politics, power, sexuality, violence, ideology, and other potential causes. Executive summary. Demographics, automation and inequality have the potential to dramatically reshape our world in the s and beyond.
Our analysis shows that the collision of these forces could trigger economic disruption far greater than we have experienced over the past 60 years (see Figure 1). Rational Absolute Value Problem. Notes. Let’s do a simple one first, where we can handle the absolute value just like a factor, but when we do the checking, we’ll take into account that it is an absolute value.
In probability theory, the expected value of a random variable, intuitively, is the long-run average value of repetitions of the experiment it iridis-photo-restoration.com example, the expected value in rolling a six-sided die is , because the average of all the numbers that come up in an extremely large number of rolls is close to Less roughly, the law of large numbers states that the arithmetic.
Absolute value equations have two solutions. Plug in known values to determine which solution is correct, then rewrite the equation without absolute value brackets.