Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Statistics and Probability Expert

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:

Making conclusions about a large population from a small sample.
Making conclusions from nonrandom samples
Attaching importance to rare observations
Using poor survey methods

Working with someone in class or in your company...describe/discuss each pitfall and how it might impact good problem solving in the business environment. You may prepare a short narrative of 250-500 words

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M998330

Have any Question? 


Related Questions in Statistics and Probability

Using the confidence interval when conducting a two-tailed

Using the confidence interval when conducting a two-tailed test for the population proportion p, we reject the null hypothesis if the hypothesized value for p falls inside the confidence interval.

Questiona mining company has gained the drilling rights at

Question: A mining company has gained the drilling rights at two sites A and B. Each cost €100,000 each. Based on past experience they have estimated the chances of a successful drill as follows: P(A) = 0.6, P(B) = 0.5 I ...

If the results of a t-test lead you to reject the null

If the results of a t-test lead you to reject the null hypothesis, what is the probability that you have made a Type II error?

The total cholesterol levels of a sample of men aged 35-44

The Total Cholesterol levels of a sample of men aged 35-44 are normally distributed with the mean of 203 milligrams per deciliter and a standard deviation of 37.4 milligrams per deciliter. (a) What percent of men have a ...

Suppose that the number of men equals the number of women

Suppose that the number of men equals the number of women, and that Vera is last on the preference list of every man. Prove that under every stable matching, Vera is matched to the same man. Who is the unlucky guy?

In pre election a candidate receives 330 out of 650 votes

In pre election , a candidate receives 330 out of 650 votes. Assuming that the people polled represents a random sample of voting population, test the claim that a majority of voters supports the candidate. Use a signifi ...

Analysis and applicable theoriesfor your analysis select

Analysis and Applicable Theories For your analysis, select two applicable theories content theories and two process theories from the list provided in this course. Please note the theories should be post-Frederick Winslo ...

If x and y are statistically independent random variables

If X and Y are statistically independent random variables both with probability density function f(t)=e^(-t) I[0, +infinity](t) , where I is the indicator function of t. Find the probability density of the variable Z=Squ ...

When conducting a hypothesis test if z calculated is less

When conducting a hypothesis test, if z calculated is less than z critical, you should accept the null hypothesis?

Researchers are interested in determining if men and womens

Researchers are interested in determining if men and women's hearts tend to be different sizes. In a sample of 12 males, the mean diameter of the heart was 13.21 cm with a standard deviation of 1.05. Among 9 females, the ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen