Business Statistics Assignment

Week 2 Assignment

 

1.    Explain the difference between a population mean and a sample mean without using the words population, sample, or mean. Use our weekly scenario to help in your explanation.

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2.    Calculate the range, variance, and standard deviation in EXCEL for the SAMPLE below:

4, 2, 5, 7, 5, 12, 6, 9, 5, 6, 5, 4, 4, 4, 5, 2

 

3.    Discuss how variance and standard deviation measure variation. Use #2 to illustrate.

4.    The Empirical Rule for a normally distributed population and Chebyshev’s Theorem have the same basic purpose. In your own words, explain that purpose.

5.    Calculate the range, variance, and standard deviation in EXCEL for the list of numbers in #2, but this time, instead of a sample, you are working with a POPULATION. What numbers changed? What didn’t? Explain why the numbers changed or did not change.

6.    Explain the following in your own words: percentile, the first quartile, the third quartile, and the IQR (interquartile range). Use the list of numbers in #2 to find these values.

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