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Business Statistics

Author:
April 22nd, 2016

BUS STAT QUESTIONS

1)   Many people do not “like” or “trust” single point estimates for things they need measured.  Looking back at the data examples you have provided in the previous discussion questions on this issue, how might adding confidence intervals help managers accept the results better?  Why?

Ask a manager in your organization if they would prefer a single point estimate or a range for important measures, and why?  Please share what they say.

 

 

2)   Chi-square tests are great to show if distributions differ or if two variables interact in producing outcomes.  What are some examples of variables that you might want to check using the chi-square tests?  What would these results tell you?

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