Question: State examples of data that can be gathered for decision
State examples of data that can be gathered for decision making purposes from each of the following industries: manufacturing, insurance, travel, retailing, communications, computing, agriculture, banking, and healthcare. An example in the travel industry might be the cost of business travel per day in various European cities.
Answer to relevant QuestionsGive an example of descriptive statistics in the recorded music industry. Give an example of how inferential statistics could be used in the recorded music industry. Compare the two examples. What makes them different?Classify each of the following as nominal, ordinal, interval or ratio data.a. The ranking of a company in the Fortune 500b. The number of tickets sold at a movie theater on any given nightc. The identification number on a ...List three speciﬁc uses of cumulative frequencies in business.A hundred or so boats go fishing every year for three or four weeks off of the Bering Strait for Alaskan king crabs. To catch these king crabs, large pots are baited and left on the sea bottom often several hundred feet ...A customer relations expert for a retail tire company is interested in determining if there is any relationship between a customer’s level of education and his or her rating of the quality of the tire company’s service. ...
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