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f host countries in the international market, it is critical to weigh the demographic factors that will have an impact upon a given set of consumers in understanding their viability as targeted markets. Recognition and analysis of demographic characteristics of consumers in
To better comprehend the concept, consider the following example. Suppose, the concentration of a certain drug in a patient’s blood has to be measured after one hour of the treatment by a particular standardized high-performance liquid chromatography instrument. The goal of the experiment is to standardize the process.
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The author states that the relevant data for the research design will be taken from the United States Statistical Abstracts specifically details regarding incidents of crime and safety concerns in American public schools. This brief paper will illustrate both an understanding of basic statistical processes and a possible experimental approach.
This research is done by conducting a longitudinal scale over a 15-year time frame. Two populations of children were identified in the second grade: ones that show attention deficit disorder and ones that don’t.
Statistical decision theory or Bayesian decision theory finds much application in business decision-making. Managers of small and large businesses find it very useful. It is named after Reverend Thomas Bayes. Reverend Bayes was trying to prove the existence of God through the application of probability when he came upon his decision theory.
For example: If your company’s sales change with the change in GDP, then you can forecast that how much company’s sales are changing with per unit change in GDP, this will help in forecasting
Tests of significance allow researchers to make inferences about the general population. The type of test used is however dependent on the type of data that is being used. According to Driscoll and Lecky (Article 6 p. 124) once the distribution of the data is known then the researcher is able to determine whether the null hypothesis should be tested using parametric or nonparametric methods.
The sample undertaken for analysis comprises over the purchase records of 20 active customers shown in Table 1.0. The population is assumed to have normal distribution (Figure 1). For
Z-Scores provide a direct measurement of size of score relative to other scores of the distribution and relative to mean of the distribution in terms of standard deviation. Z-score can be simply calculated using the formula below. Negative z-scores are below the mean and positive z-scores are above the mean.
For the TI, you will want 2-PropZTest. Then select the appropriate alternative (not equal), and Calculate then enter. The output will have the test statistic (z), p-value (p), sample p values, weighted p (), then repeat of sample sizes. To compare the
The author states that yet another remarkable tendency of ratio measurements is that the ratio amongst two coefficients remains constant even though the units of measurement change. While the ratio has the benefit of being the pinnacle level of measurement, they cannot be used in every situation.
A researcher asks whether attending a private high school leads to higher or lower performance on a test of social skills when compared to students attending public schools. A sample of 100 students from a private school produces a mean score of 71.30. The population mean (μ) for students from public high schools is 75.62.
The author states that such kind of mistakes is categorized as type I and type II errors. A higher priority is associated with a type I error, the reason being that these errors falsify the presence of a hypothesis. An incident that could be stated as an example of this type of error is when a test underwent for a patient result to be positive.
The author states that one of the researches claimed that Vitamin E is a proven antioxidant and further claimed that it might help in fighting cancer and heart disease. On the first look, we may say that the claim would be true and we are more likely to believe in it. But, we should also consider that the researcher is implying.
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In the majority of the published researches on SPC surveyed during the literature review, the take-off point of the studies was concentrated on gaps in existing knowledge from literature. Another original contribution of this study, therefore, is its use of profiling as a springboard for proposing an MSPC-based intervention.
Since customers are the most precious asset for an organization, every company looks for the strategic schemes to capture the attention of the old customers on the one hand, and explore the new ones on the other. The model turns out to be extremely beneficial in respect of analyzing the corporate state of affairs and taking decisions subsequently.
It is an attempt to describe the movements in a variable with regards to movement in other variables. Linear regression is a form of regression which attempts to build a linear model between dependent and independent variables. In a linear equation, generally represents the intercept of the equation while represents the slope of the equation.
History shows that various statistical tools such as probability and distribution methods were developed around the 16th century. The time period when these mechanisms were established was the scientific revolution. Some efforts regarding probability were also made in the 15th century but the finished and established version came to light only in the 16th century.
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Therefore we can that there was an equal member of the union in the age categories. The satisfaction levels were higher in the male population as compared to the female population. The female population showed extreme dissatisfaction or complete satisfaction. The responses from the male population were more divided. The level of employee loyalty on the other hand was higher with increases in age, income, tenure, and number of promotions.
Statistics provides a clear advantage in conducting the research and deal with day to day business problems in more objective as well as rational manner. Business use of statistics, therefore, is in many departments including the operations, finance as well as marketing and human resource of the firm.
This factor analysis is a statistical phenomenon which determines the variable’s effect on one another. Factor analysis has developed in psychometrics and is related to factors dealing with large data’s. There are different variables that affect marketing and productivity. These informative data analysis will reveal the company’s outline.
Descriptive statistics help a researcher to analyze the basic characteristics or features of a set of observations underlying a variable (Healey & Prus, 2009). Central Tendency and Measures of Dispersion could be considered as two sections of the subject primarily targeted towards yielding descriptive details of a given set of observations.
Sampling is the choosing of a sample from the whole of the target population, and the results of the sample can then be generalized for the whole of the target population. The number of samples chosen for this survey is 12, and they all belong to either the sales support analyst or the customer billing department of Etisalat Telecom.
Regression, which identifies the numeric connection between the variables, is discussed in detail along with the method to formulate a straight line regression equation using the Least Squares method. Hence the method to compute the coefficient of determination which gives a numeric value of the goodness of fit is included in the report.
Models and forecast based on statistical data from a probabilistic proposition which is tangible and which spells out the chance of the organization/business performing better than it currently does. It is easier to apply statistics and make decisions that are satisfying and which fit different scenarios and situations.
The author states that the assumption that the errors have constant variance (i.e., they are homoscedastic) is violated. There is a Funnel-In-Pattern (decreasing residual variance) as we move from left to right. Therefore, the assumption that the errors have constant variance is violated. There is no pattern in the residuals.
The author states that data compression is frequently acknowledged as coding. Here, the term coding is extensively identified as a general term that entitles some particular representation of data that fulfills a given requirement. In addition, data compression can be taken as the main branch of information theory.
To derive any meaning or pattern from such raw data, methods such as data mining is used. Data mining is a set of statistical techniques that aim to identify trends, patterns, and relationships in data. Data mining activities are of three types: Descriptive: interviewing the data stored to identify patterns and relationships.
This paper concentrates on the analysis of the population size, composition, and growth rate, nations undertook a census every ten years to determine the population size for policy making purposes. It is also important in that it helps determine the dependency ratio. High population growth rate is usually a problem especially with limited resources in...
It is evidently clear from the discussion that a z-test is used to compare population mean with a standard or for comparing the means of two populations when the population standard deviation is known. It is also used for comparison of a proportion with a standard proportion or for comparing two proportions.
The author states that the five terms: quantities, scalars, vectors, velocities, and direction might seem self-explanatory to a mathematician, but for people, without a math background these terms might cause confusion. Thus examples must be given for everyone to understand vectors properly.
The author states that the result of the “Analysis of Variance” shows that the computed F (12.43) is less than the tabular values of F-statistics (230) at 0.05 degree of freedom (1, 4). This means that there is no significant difference between the variables of amounts claimed and amounts reimbursed in relation to “legitimate” expense claims.
The data cannot determine that the null hypothesis is false. On the other hand, this probability value still does not prove the truth of the null hypothesis. This often occurs because a researcher, in some cases, cannot determine a small effect from a null effect. (Interpreting Non-Significant Results, n.d.)
The author states that simple random sampling is usually costlier than systematic sampling and is used in places like internet sampling, and random digit dialing. Systematic sampling has the disadvantage of periodicity if the list has a systematic pattern similar to that of the population. This is not the case with simple random sampling.
What is the approximate probability that at least 7 rejected boards will be produced next week? According to the Relative Frequency Percentage Chart, we can calculate the percentage frequency of at least 7 boards to be rejected to be 95%, as the percentage of occurrence of less than 7 rejected boards is just 5 %.
The author states that in business, many situations require the use of only two options such as like or dislike, yes or no, etc. In such business situations, the proportion is used for comparison. Collecting proportion data is simple and straightforward. Customers, people, or employees can easily say whether they like or dislike certain things.
The simplest way to find out the nature of the relationship between any two variables is to form a scatter diagram. In the present case, the objective is to find out how output per worker in the mining industry is related to the number of working hours and the level of earnings. Two diagrams can be used to find out what kind of correlations exist.
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The average country’s Gross Domestic Product per Capita (US$) is about 7,758 (SD = 9,089). The average country’s Education Expenditure per Capita (US$) is about 393.3 (SD = 492). Figure 1 shows the scatter plot of Gross Domestic Product per Capita (US$) and Education Expenditure per Capita (US$). It is seen that all the data points lie near a linear line.
The polynomial curve captures all the data points on set A that shows variables have a perfect association (polynomial) between them. The regression line for the set B data set captures approximately all data points, therefore shows a strong association between variables. The correlation between variables is 0.96.
This paper gives information that this working group submitted a memorandum on 27th May 1994 to the director, NIOSH which clearly concludes that an in-depth review of scientific literature related back belts, on evaluating the adequacy of data in support of the use of back belts in preventing work-related injuries was insufficient.
Variables in correlation analysis are basically two types- dependent variables and independent variables. The variable that is being predicted or estimated is dependent variable. On the other hand, a variable that provides the basis for estimation, it’s the predictor variable or the independent variable.
Statistics plays a very significant role in the shaping up of different events which unfold at the national and international fronts all over the world. These usually come out very clearly in the wake of a natural disaster, calamity or an event that sparks off controversy. Different reporters make use of these statistics to spice up the events.
Real world applications of statistics are often limited by the constraints of data and complexities that defy intuition. While we can readily detect a difference in the mean of several samples, the factors that impact the variance are not so apparent. The variance among samples may be due to an independent variable or be the result of random errors.
The author states that more observations are concentrated on the lower measures of the data, negative skewed or data skewed to the left data means that more observations are concentrated on the higher measures of the data. However, data may be symmetrical which means it will take a bell-shaped form of a diagram.
Data of 534 individuals each with 11 variables were collected and analyzed and a report prepared. Based on these findings, the wage depends on the years spent in education, the level of experience, if one is a member of the union, the occupation category, the age, race, and the sector one is at a 95% level of confidence.
There are various variations of hypothesis test such as applications utilizing population mean, proportion or variance. Piggy Bank currently has a couple of options which the bank needs to choose the optimal choice to implement an incentive for its new credit card product. The choices the bank is contemplating are cash back on online purchases.
The author of the paper states that to find a solution to the problem by research requires identifying and analyzing the nature of the problem. The analysis largely depends on the collected data, and so the importance of the analysis lies with the quality of the data collected. Reliability and validity are necessary for accuracy.
We need to assume that the observations are normally distributed. In addition, normal distribution is to satisfy seven requirements: (1) the graph should be bell shaped curve; (2) mean, median and mode are all equal; (3) mean, median and mode are located at the center of the distribution; (4) it has only one mode, (5) it is symmetric about mean, (6) it is a continuous function; (6) it never touches x-axis; and (7) the area under curve equals one.
The author states that in criminal justice in order to describe validity, we have to go through the general rules of science, which shows a clear description of the way to test cause and effect in any given study. The same is the case with criminal justice. In order to generalize the results, validity is used in two forms: internal and external.
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Table 4 shows adjusted R-squared of 0.000048 which means the independent variable year of birth predicts almost zero percent of the dependent variable Day 21 average piglet weight. T-stat for this variable is 0.219229 so it is statistically insignificant. Both values indicate the no effect of year of origin on Day 21 average piglet weight.