1. Chi-square Goodness-of-fit Tests Jake is trying to invest his money in stock market, is not sure that he could earn a profit or lose his money when he invests to an AT&T company’s stock or a stock market index, Dow Jones Industry Average. So he called his friend who works at financial consulting company and heard that the monthly positive and negative investment returns on AT&T and Dow Jones Industry Average were historically almost the same. However the economic situation recently has been getting
Words: 4013 - Pages: 17
Applied Managerial Decision-Making WidgeCorp Discussion Board IV December 12, 2012 Our company is considering delving into the product line of cold beverages. Forecasting future monthly sales of cold beverages has been approached to insure and demonstrate good stewardship of the company’s resources. Determining whether to go into the cold beverage sales business requires tools such as a regression model in which use of historical information might benefit the organization particularly
Words: 471 - Pages: 2
Business Analytics- * Exploring data to find new patterns and relationships (data mining) * Explaining why a certain result occurred (statistical analysis, quantitative analysis) * Experimenting to test previous decisions (A/B testing, multivariate testing) * Forecasting future results (predictive modeling, predictive analytics) Answers the Important Questions Such As: -Why did it happen? Will it happen again? What will happen if we change x? What else does the data tell us that
Words: 495 - Pages: 2
What is Econometrics? Econometrics is a rapidly developing branch of economics which, broadly speaking, aims to give empirical content to economic relations. The term ‘econometrics’ appears to have been first used by Pawel Ciompa as early as 1910; although it is Ragnar Frisch, one of the founders of the Econometric Society, who should be given the credit for coining the term, and for establishing it as a subject in the sense in which it is known today (see Frisch, 1936, p. 95). Econometrics can
Words: 736 - Pages: 3
ABSTRACT High glucose level can lead to diabetes and may cause many complications. There are many cures, preventions and medications to avoid it but people could not do it or even afford it. That is the main reason why the researcher targets to make a discovery on preventing the risk of having high glucose level. For such people who cannot have the means to afford buying expensive food supplements, teas and other medicines to maintain a good health. The study aims to be effective for lowering
Words: 251 - Pages: 2
Probability and statistics are two related but separate academic disciplines. Statistical analysis often uses probability distributions, and the two topics are often studied together. However, probability theory contains much that is of mostly of mathematical interest and not directly relevant to statistics. Moreover, many topics in statistics are independent of probability theory. Probability (or likelihood) is a measure or estimation of how likely it is that something will happen or that a statement
Words: 2335 - Pages: 10
Statistics in Business QNT/351 Aug 21, 2013 Edward Balian Statistics Investopedia defines statistics as a type of mathematical analysis involving the use of quantified representations, models and summaries for a given set of empirical data or real world observations. Statistical analysis involves the process of collecting and analyzing data and then summarizing the data into a numerical form. ("Investopedia", 2013) Types and Levels Descriptive
Words: 399 - Pages: 2
AMES Continuous Improvement Abstract This paper presents the continuous improvement efforts that Airborne Maintenance and Engineering Services implemented in January 2013. AMES has just passed one year under the new processes established by the continuous improvement team. The paper compares aircraft delivery times before and after continuous improvement efforts using a lower tail t Test of hypothesis for the mean. The null hypothesis is continuous improvement did not improve aircraft
Words: 1035 - Pages: 5
Introduction This essay focuses on the hypothesis testing in order to provide sufficient statistic assistance to make decisions associated with location, how to promote, and the pricing strategy. To be more specific, there are many hypothesis testing methods used in the following essay, including one sample t-test, independent samples t-test, paired samples t-test, ANOVA and Chi-test to achieve those goals. How much are potential patrons willing to pay for the entrees? Is the $18 amount from
Words: 884 - Pages: 4
Maurice McGee When people think about statistics they often think of someone writing out a long formula or counting people one by one. But in reality statistic is very instrumental in making sense in things humans would otherwise be unable within their power to do. For example the census a sample of a large portion of the country helps make sense of the country as a whole. Although we cannot possibly ask every single person for information we can take the statistics from that to understand the country
Words: 621 - Pages: 3
