08 Apr DQ1 The U.S. government keeps statistics on many p
DQ1 The U.S. government keeps statistics on many people in America. One interesting statistic is the poverty rate. To be living in poverty, one must earn income below a certain threshold (approximately $900 per month). Many multimillionaires are included in this statistic. Recently, Barbara Streisand was living in poverty. In a particular year, she did not perform live, and her album sales were extremely slow. She has a great deal of wealth but had little income that year. Although she has more money than 99.99% of the rest of the population, the government believed that she was impoverished. What other statistic can you name that is misleading? Why?DQ2 You just saw a commercial for the Tread Master, an exercise machine that claims an average weight loss of 10 pounds. A commercial for the Climber, a competing product, claims that only 1 out of 10 users of the Tread Master lost any weight at all. The rest of them gained weight. How can both of these claims be true?Week 2 discussionDQ1 The definition a probability isstated as: A measure of the likelihood that an event in the future will happen; it can only assume a value between 0 and 1, inclusive. Explain the meaning of the 0 and 1.DQ2 You are looking for a home in a particular neighborhood, and you want to know the typical number of bathrooms and bedrooms, the square footage, and the appraised value of houses in that neighborhood. Which measure of central tendency (mean, median, or mode) would be the most appropriate for each piece of information listed, and why?Week 3 discussionDQ1 Provide some examples of discrete and continuous variables. What attributes of these variables make them discrete and continuous? Why?DQ2 Describe the term mutually exclusive. Provide some examples. Must the values of x in a discrete probability distribution always be mutually exclusive? Why or why not? Provide an example.Week 4 discussionDQ1 You just saw an ad on television that states the majority of the population would vote to make smoking illegal. The poll that is referenced shows 53% of those asked supported making smoking illegal. In the fine print at the bottom of the screen, you see that the margin of error is +/- 3%. What is your reaction? Explain.DQ2 As the marketing director of Harley-Davidson, you need to determine what your customers would like in the next model. You put a survey on the Harley website. Is this a good frame from which to select your sample? Explain.Week 5 discussionDQ1 Your mayor just announced that the local unemployment rate dropped last month from the prior month. It went from 10.5% to 10.4%. Is this a significant drop? Explain.DQ2 Give an example of a situation in which you believe a Type I Error is more serious than a Type II Error. Give an example of a situation in which you believe a Type II Error is more serious than a Type I Error. In each case, why do you think so?Week 6 discussionDQ1 What does the p-value tell the business statistician, especially in terms of the normal curve? If the p-value is smaller than the level of significance, what does that mean in terms of the null hypothesis? Why?DQ2 A research firm tracks the average highway speed of 30 drivers driving home on Day 1. For the next 10 days, the drivers are given two cups of coffee 1 hour before the drive home. On the 10th day, the average highway speed is measured again. Does this study involve dependent or independent samples? You are interested in knowing if there is a statistical difference in driving speeds between Day 1 and Day 10. Which statistical test would be appropriate? Why?Week 7 discussionDQ1 Provide an example of where you could use correlation in real life. Explain why a t-test is necessary before you accept this correlation as being real in the population.DQ2 Compare and contrast Spearman and Pearson correlations.Week 8 discussionDQ1 In ANOVA analysis, what is the real meaning of the term treatment? What does this really mean? Provide some examples of treatments from a business or managerial perspective.DQ2 How many different tests does the textbook give you for applying the chi-square distribution? What are these tests? How could you use each of these tests at your place of business?
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