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What is the role of statistics in decision-making

📅 May 30, 2023 ✍️ Edu Essay ⏱ 2 min read

Q1. What is the “Role of Statistics” in Decision-Making?

Q2. What are the two fundamental Laws of Statistics?

Q3. What are the five (5) broadly divided categories of Statistics and their associate definitions or explanations?

Q4. What is probability? How many kinds of probability do we commonly have? Please state them by using the defined formula. Which one is not good for use.

Q5. What are the broadly classified common Statistical Issues ?

The following distribution data is given and apply to Q6 to Q8:

Marks less than 10 20 30 40 50 60 70 80 90

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No. of Students 4 6 24 46 67 86 96 99 100

Q6. Draw Histogram.

Q7. Draw Frequency Polygon.

Q8. Draw less than Ogive Curve and greater than Ogive Curve in one

chart and find the Median.

Homework Set for STAT500-SP11-1801/1900, UNVA, USA

Prepared by Professor Victor J. Chen, Ph. D., P.E. – 04/15/2011 Page 3 of 3

Q9. What are the three types of Mean? Please write down the definitions by using their formula.

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Q10. What is the difference between “Mean” and “Median”? Please indicate the difference by definitions and by graph. If the “Mean” and “Median” of a data set distribution coincide each other, what does the physical meaning of the distribution curve?

Q11. Use formula with defined parameters to indicate the measures of “skewness”, “kurtosis”, and “Moments.”

Q12. Find the standard deviation by any method for the following classified data:

Class Interval: 0-10 10-20 20-30 30-40 40-50 50-60 60-70

Frequency: 6 14 10 8 1 3 8

Q13. Please follow the example 3 of Chapter 4 to perform your practice. Your Excel working sheets are required (like the one on page 113 of the textbook) to submit for review and grading.

Q14. What is the relationship between the Standard Normal Distribution and the Normal Distribution? Use formula to indicate the difference.

Q15. What is Central Limit Theorem? Explain it by wording and Graphs please.

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