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7 F
Mode of the data is the value from data set which occurs most often. The mode of temperature sat data is 32.9 F
Standard deviation is a measure of the spread of data set values. It can be calculated by the following formula:
Standard deviation of temperature data set for February equals to 3,823181 F. The value of standard deviation witnesses that winter climate in New Jersey is very moderate without any considerable temperature jumps. Yet, we can mark that there is a current warming trend as the difference between the lowest average February records and highest average February records equals to 12.5 F.
Conduct a literature and internet search and write a paper of between
200-3-300 words explaining how permutation and combinations can be used in business today.
Permutations and combinations techniques can be used in different areas of business analysis, especially in making decisions techniques and searches of the most optimal solution. Permutation and combination techniques allow optimizing problems of business decision choice as they allow to estimate the definite number of variants in the problems of making choice. Permutations and combinations techniques can be widely used in business analysis as they allow to evaluate the number of strategies and number of economic behavior variants in case of multiple choice business processes; these methods of combinatorics can be also used in analyzing stocks and forming the most profitable stocks...
Using methods of permutation and combination we can calculate possible profits in case portfolio is formed of different stocks with different interest rate, different risks. After getting the total number of variants and possible amounts of profits and risk factors for each variant we can choose the most optimal for any time period either short time investment, or long time investment, can choose the safest variant of investment which has the lowest risk factor, etc. So we can conclude that methods of permutations and combinations provide us with powerful math tools for decision making problems.
2
27.1
34.7
34.4
33
28.5
38.7
35.3
35.9
35.6
39.6
38.8
32.5
29.3
29.2
28.9
37.6
38.9
32.9
32.9
32.7
Year
Temperature, F
February averages for Trenton, NJ (1988-2007)
1
2007 27.1
2006 34.7
2005 34.4
2004 33
2003 28.5
2002 38.7
2001 35.3
2000 35.9
1999 35.6
1998 39.6
1997 38.8
1996 32.5
1995 29.3
1994 29.2
1993 28.9
1992 37.6
1991 38.9
1990 32.9
1989…
This distribution can be applied to multiple business situations even where data is distributed differently, because a normal distribution adopts the central limit theorem which suggests that no matter how a population is distributed, the distribution "of the means of random samples approaches a normal distribution for a large sample size" (ICMBA, 2002). Business executives can use normal business distribution to create diversified asset portfolios, to calculate process variations within
This means they set medium term goals may be up to five years. This requires that they make detailed and precise judgments, so that their medium term goals are met. This has made the methodology require sophisticated business statistical applications. (Statistical Thinking for Managerial Decisions) Long-term planning in business normally makes it necessary to make estimations regarding the future and extrapolations of the past, is used for this. The
Task 1(h) - Difference of opinions within nationalities British German French Italian Chi-square value 5.04E-06 2.83E-15 Comments This shows that there were differences of opinion about the resort for the British, German and Italian visitors, but not the French. Task 1(i) - Difference of opinions between nationalities Overall Accommodation Location Food Chi-square value Comments This shows that overall there were differences of opinion for the visitors in each area. Task 2 SUMMARY of RESULTS The results of the data analysis show that at the present time the French spend substantially
Business Research Denial of Security Clearance: An Examination and Application of Real World Business Statistics The purpose of this research is to identify the factors most relevant to decisions involving access to classified information and the denial of such security clearance. From an analysis of the commonly cited reasons for such denials, which range in official reports from sexual misconduct to the equally ambiguous and somehow more intriguing issue of "financial considerations,"
The objectives of this project will result in a reduced security risk due to incoming spam and junk email messages. Achievement of the objective will be difficult to measure because it represent something that will not happen if the project is successful. A reduction in threats due to the actions or inactions of employees will result in achievement of these objectives. An employee questionnaire or survey would be useful in
statistics also identify various types as well as levels of the same. Further, the role statistics plays in business decision making will also be explored. Later on, a number of examples will be presented in an attempt to identify situations in which statistics can be put to use. A review of literature demonstrates that over time, different authors have given varying definitions of statistics. According to Siegel (2011), "statistics is