Understanding Business Research Terms and Concepts: Part 2 Ming D. Lee RES/351 April 18, 2016 Dr. Linda F Florence Understanding Business Research Terms and Concepts: Part 2 Descriptive statistics Descriptive statistics suggests a straightforward quantitative outline of a data-set which has been gathered. It helps us comprehend the experimentation or data-set in-detail and tells people concerning the mandatory details that help show the data perceptively. Descriptive statistics, we just
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the same data. The first set of data is median home value by state, unranked. The second set of data is median home value by rank. * Use the step by step guide, also found in the e-Activity, to calculate the mean, median, variance and standard deviation for all 50 states plus DC. * Next select ten (10) states, any 10 of your choosing, and calculate the mean, median, variance and standard deviation for median home value. Compare and contrast the means and standard deviations for the ten (10)
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Question 1: Why should a manger know about research when the job entails managing people, products, events, environments, and the like? Answer: Research simply means a search for facts – answers to questions and solutions to problems. It is a purposive investigation. It is an organized inquiry. It seeks to find explanations to unexplained phenomenon to clarify the doubtful facts and to correct the misconceived facts. Research is the organized and systematic inquiry or investigation which provides
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Were these appropriate? Answer: The statistics used to describe the length of labor in this study were mean and standard deviation. These were appropriate as they both can be calculated at the interval level of measurement. 3. What other statistic could have been used to describe the length of labor? Provide a rationale for you answer. Answer: The median could be used though the mean and standard deviation are closer for both of the groups. 4. Were the distributions of scores similar
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useful information to AJ Davis as about half of their credit customers are from urban locations. Variable: Income The range of customer’s income is $49,000, with the highest income at $74,000 and the lowest at $25,000. The mean (average) income of a customer is $46,020. The median income is $44,500 (half way point between the 50 total incomes, 25 incomes below and 25 incomes above). The value that appears most frequent
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= number of heads = {0,1,2} p(0)=1/4, p(1)=1/2, p(2)=1/4 Weighted average = 0*1/4 + 1*1/2 + 2*1/4 = 1 Draw PDF Definition: Let X be a random variable assuming the values x1, x2, x3, ... with corresponding probabilities p(x1), p(x2), p(x3),..... The mean or expected value of X is defined by E(X) = sum xk p(xk). Interpretations: (i) The expected value measures the center of the probability distribution - center of mass. (ii) Long term frequency (law of large numbers… we’ll get to this soon) Expectations
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Interpretations Descriptive Statistics 5 A. Stem and Leaf Plot 7 B. Box Plot 8 C. Histogram 9 D. Probability 11 E. 95% Confidence Interval for Mean 13 F. Scatter plot 14 G. Simple Linear Regression 15 H. Multiple Linear regression 16 I. Residual plot 17 J. Mean T-test 18 Summary and Conclusions 19 Introduction and Background In medical device manufacturing there are a lot of proteins that are produced such as antibodies, which
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Dr. Lilian Otieno, Resident Lecturer I am tasked to distinguish between parametric and non-parametric statistics and explain when to use each method in analysis of data. I shall first seek to define what parametric and non-parametric statistics mean and then compare and contrast them in the analysis of data. Parametric statistics is a branch of statistics that assumes that the data has come from a type of probability distribution and makes inferences about the parameters of the distribution. Most
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their Mean: "μ=" ∑_(i=1)^N▒X_i "/N" =(21+22+22+22+22+23+27+28+29+33+36+36)/12 =26.75 Median: =(n/2+(n+2)/2)/2 =(12/2+(12+2)/2)/2 =6.5th position 6th +7th /2=25 Mode: The mode of these percentage assessment rates is 22. Midhinge : =(Q1+Q3)/2 =(22+31)/2 =26.5 Midrange: =(Highest data+lowest data)/2 =(21+36)/2 =28.5 Harmonic mean: H=12/(1/21+1/22+1/22+1/22+1/22+1/23+1/27+1/28+1/29+1/33+1/36+1/36) =12/0.466008157 =25.75 Geometric mean: G=√(12&21*22*22*22*22*23*27*28*29*33*36*36)
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Research methods - PSYB1 Read the study then answer all the small mark questions Question worth 20 marks [pic] 1. Planning research: Aim, Hypotheses & Variables Psychologists first aim to make predictions about a common sense explanation of behaviour. For example, “hmm, does eating fish really make someone smart like the advertisements say?” Therefore the first thing a psychologist must come up with is an aim of her ‘what will
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