Purpose of 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 their problem or the opportunity. Additionally, students will gain experience in using basic concepts of probability to their research.

Assignment Steps

Use the same business problem/opportunity and research variable you outlined in Week 3.

Note: Do not actually collect any data; think hypothetically.

Continue to develop your research to the business problem and variable by adding the following to your week3 outline:

Descriptive statistic: Describe which descriptive statistic of your variable that would help you understand the and . average hours per week spent studying, or Standard deviation of volume of coke bottles).

Graphical Display: Describe a potential graphical display (graph/chart/table/illustration) you could use to help illustrate your descriptive statistic. histogram of Number of Students, that spend the different number of hours per week, avg, or Line graph of deviation of volume of coke bottles, through different production months)

Probability: Describe how probability might help in addressing the business problem (for example, probability that within the population of UPO students has an average of hours studying per week, like my class, or Probability that each bottle will have a standard deviation of less than 0.1 oz, etc.) .