Question
As a person who understands and uses statistics to solve problems in business you know that you must use the right statistical tool to compare
As a person who understands and uses statistics to solve problems in business you know that you must use the right statistical tool to compare data against theories. If the data doesn’t support the theory under investigation, you either reject or revise your theory. (You don’t revise the data!)However, you understand that pitfalls may exist in the data collection process and the reasoning process. For instance, you know to watch for:
Making conclusions about a large population from a small sample.
Making conclusions from nonrandom samples
Attaching importance to rare observations
Using poor survey methods
Working with someone in your company, explain/discuss each pitfall and how it might impact good problem solving in the business environment.
Step by Step Solution
3.47 Rating (160 Votes )
There are 3 Steps involved in it
Step: 1
Making conclusions about a large population from a small sample and how it might impact good problemsolving in the business environment In case of a l...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Document Format ( 2 attachments)
605d7bc023f7f_211.pdf
180 KBs PDF File
605d7bc023f7f_211.docx
120 KBs Word File
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started