Why are business decisions made on the basis of only a limited amount of data? Can such decisions be reliable?
Answer to relevant QuestionsThe government of Ontario began collecting data on "key performance indicators"(KPI) for colleges in 1998. Data on graduate employment rates, graduate satisfaction, and employer satisfaction are collected by external service ...Quality control is very important in manufacturing. Several times during the week, a paint company records the number of dented cans in a random sample of30 paint cans from the filling line. What kind of data are these? Suppose you are the sales manager at a car dealership. You want to examine data on past sales, with an eye to planning sales activities for the next year. Should you look at annual or monthly sales? Why? A college professor is very concerned that her students' academic success is affected by the number of hours the students spend working at their jobs. She selects a random sample of 45 students and asks them to keep track of ...Create a histogram for the ages of customers in the survey of drugstore customers. Do this three times, with three different class widths: 5, 10, and 15 years. Describe the histograms and comment on the differences among ...
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