Question

Write a few sentences describing a business related population with characteristics that you assume is near...

Write a few sentences describing a business related population with characteristics that you assume is near normally distributed. State a metric (height, scores, etc ...) that can be used to measure the characteristic

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Normal distribution has many business related applications

One such example can be Battery backup of iPhone

Let say the average battery backup for the latest model of iPhone in the market is 60hrs. It wont be exact 60 hrs in each of the iPhone.

However, if we compare the large number of cell phones then the average battery backup would be having a mean value of 60 hrs with a small value of standard deviation

Here, the population refers to the total number of iPhones in the world and the characteristic here is number of hours of battery backup of the iPhone.

The metric used to measure the charateristic in this case would be time in hrs.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Directions: Submitted in PDF format only. Do not submit Excel spreadsheets. Please include ALL prompts in...
Directions: Submitted in PDF format only. Do not submit Excel spreadsheets. Please include ALL prompts in your write up with your response beneath. Respond in complete sentences. Use APA format for all charts. Please BOLD the prompts. 1) Write a few sentences describing a business related population with characteristics that you assume is near normally distributed. State a metric (height, scores, etc ...) that can be used to measure the characteristic. 2) Write a few sentences describing a business related...
Design: write a few English sentences describing how you would change the Linked-Chain implementation of the...
Design: write a few English sentences describing how you would change the Linked-Chain implementation of the List ADT to support removal of a node from the middle retaining order. C++
Scenario: Please write a few lines describing your scenario and the four variables (in addition to...
Scenario: Please write a few lines describing your scenario and the four variables (in addition to income) you have selected. Use Table 1 to report the variables selected for this assignment. Note: The information for the required variable, “Income,” has already been completed and can be used as a guide for completing information on the remaining variables. Table 1. Variables Selected for the Analysis Variable Name in the Data Set Description (See the data dictionary for describing the variables.) Type...
You have a normally distributed population with 2000 people. The average height for this population is...
You have a normally distributed population with 2000 people. The average height for this population is 5.5 feet and the variance for the population is 0.25. a) The probability that a randomly selected person has a height between 5 and 6 feet b)The probability that the mean of sample is less than 5.4 feet c) You have a slightly skewed population with 2000 people, you randomly select 37 people from this population and measure each person's height. Can you use...
Assume you are incubating a new business in the field of your specialization. } Ex. A...
Assume you are incubating a new business in the field of your specialization. } Ex. A Civil Engineer may establish a contracting company , consulting company , property development company etc.. } List out the importance and usefulness of Engineering Economics and its components in the selected business scenario. } Further, write about your opinion on studying engineering economics. (only a few lines are enough)
Assume that you have a random sample of ten students that has a mean midterm score...
Assume that you have a random sample of ten students that has a mean midterm score of 82.75 in a business class that uses distance-learning techniques. Further assume that in another random sample of nine students in a business class that does not use distance-learning techniques, the sample mean is 75.62 and. If the midterm scores are normally distributed with a population standard deviation of 4 and 8, respectively. a. Find the expected value and standard error of the sample...
A. Assume that as a business manager, you have recently made good use of a variety...
A. Assume that as a business manager, you have recently made good use of a variety of tools like Expert Opinion, Consumer Surveys, Test Marketing & Price Experiments, and Census & Other Historical Data to help determine the demand for a new product your firm recently placed on the market. All of the tools were used properly, the information gathered was accurate and honest, and the basic limitations of such tools were also taken into consideration. Everything pointed to a...
IQ scores in Fishtopia are normally distributed with a mean of 85 and a standard deviation...
IQ scores in Fishtopia are normally distributed with a mean of 85 and a standard deviation of 20. Find the approximate number of people in the country (assuming a total population of 31,700) with an IQ higher than 123. (Round your answer to the nearest person.) For full credit, you must calculate the z-score for the given data point. Then you can determine the appropriate probability using either your calculator or the table, but clearly state which method you are...
You think that your class might be happier than the general population. You want to conduct...
You think that your class might be happier than the general population. You want to conduct a hypothesis test to see if you are right. Thus, you randomly sample 9 students in your class and find that they have a mean happiness score of 3.25, with a standard deviation of 1. You know information about the population distribution. First, you know the population scores are normally distributed. You also know that the mean happiness score for the population from which...
Match the terms with their definitions. Most of this information is from the chapters you have...
Match the terms with their definitions. Most of this information is from the chapters you have read in Cronk so far. They can also be found in various places throughout your textbook. Answer Choose...Paired-samples t test, Inferential statistics, Descriptive statistics, Non-parametric inferential statistical procedures, Chi-square, Correlation, Independent-samples t test, Parametric inferential statistical procedure 1) This parametric statistical procedure is used when you have a dependent variable that is interval (1, 2, 3, 4, .....and so on), and an independent variable...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT