Assignment
The purpose of this assignment is for students to build upon the problem or opportunity identified in Part 1 in Week 3. In this part, students will identify the appropriate numerical and graphical techniques of descriptive statistics learned in Weeks 2 and 3 and apply them to further studying their problem or the opportunity. Additionally, students will gain experience in using basic concepts of probability to their research.
Use the same business problem/opportunity and research variable you wrote about in Week 3.
Note: Do not actually collect any data; think hypothetically.
Develop an analysis of 1,050 words in which you:
• Identify the types of descriptive statistics (numerical measures) that might be best for summarizing the data, if you were to collect a sample.
• Identify the types of descriptive statistics (graphical measures) that might be best for summarizing the data, if you were to collect a sample.
• Analyze the role probability (for example, expected values or finding the probability of incurring a loss, etc.) might play in helping address the business problem.
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also include a cover page containing the title of the assignment, the student's name, the professor's name, the course title, and the date. The cover page is not included in the required page length.
3. Also Include a reference page. The Citations and references should follow MLA format. The reference page is not included in the required page length.