Describe the difference between a population and a sample.

Business Statistics

PART I: APPLICATION

Directions: Please answer each of the following questions (responses should be at least two paragraphs in length and be written in complete sentences, if applicable).  Show essential calculations, if applicable.

1.   Describe the difference between a population and a sample.

2.   A New York newspaper reported the average gasoline prices in four metropolitan areas and used a bar chart to illustrate the differences.  What type of statistics was shown?  What activities did the newspaper use to make the report?

3.   Research a management or marketing article/news/publication that writes about a topic founded on the use of statistics.  Evaluate the information according to the following questions and directions.

·       Determine whether the existing information is adequate or additional information is required to support the topic.

·       Is the presentation of statistics misleading in the context of the topic?

·       Was statistics used only as numerical information or the framework for decision-making?

·       Was the information summarized in a useful and informative manner?

·       Analyze and draw your own observations/inferences/conclusions about the information presented based on information you have learned from this module.

PART II: CASE STUDY

Directions: Please conduct the following case study.  You will work on this case study for Modules 1 through 8.

Identify a business topic of interest to you.  It could be an issue with which you are familiar from your workplace or one that you have read about in the media or for another course

Please identify three (3) types of statistics that a business decision maker would find helpful to address this curiosity or solve this business problem.  Please also explain why these statistics would be relevant.

PART III: JOURNAL ACTIVITY

 

 

Please identify one key concept from this module that you find particularly challenging or relevant to your interests.  Write a short paper (2 to 3 pages) explaining it in greater depth.  Remember to cite your sources.  Please visit the Academic Resource Center (ARC) for concise guidelines on APA format.

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