The four dimensions of statistical thinking, according to Wild & Pfannkuch are an investigative cycle, styles of thinking, an interrogative cycle, and dispositions. The four dimensions are simultaneously active within the thinker and incorporate both general and specific statistical thinking tendencies. Describe the four statistical reasoning/thinking dimensions that are used in statistical investigation.
* Give and describe a concrete example of how the four-step method was applied in a managerial decision-making process. Please apply the four dimensions of statistical reasoning from Wild and Pfankuch .
* Why is having a representative sample rather than a random sample not more crucial for drawing accurate conclusions about a diverse population?
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Answer:
$5,320,000
Explanation:
the cost per ton = Cost - salvage value/ estimated tons.
= 25,120,000 - 4,000,000 /240,000
= $88 per ton
Tons remaning = 240,000 - 225000
= 15,000 ton
book value of the mine at year-end = (15000 ton x $88) + 4,000,000
= 132000 + 4,000,000
= $5,320,000
Therefore, At year-end, the book value of the mine (cost minus accumulated depletion) is $5,320,000
Answer:
B. R-chart
Explanation:
An R-charts is used in monitoring the variation of a process, and it is based on samples that are taken from the process at given times
, for example, hours, shifts, days, weeks, months, etc. In other words, an R-chart is a type of control chart that is used to monitor the process variability (for example the range) when measuring small subgroups (n ≤ 10) at regular intervals from a process.
R-charts are the most commonly used control charts for the process variation, because they are the simplest to calculate.
Answer:
Detail your expertise and accomplishments.
Proposals are sales presentations.
Explanations:
A proper explanation of Copperbuild's level of expertise should be talked about. Their ability to effectively manage the new business which stems from the experience gained overtime as a small construction company. Also, relevant accomplishments overtime should be highlighted as this helps sell the company to investors as they would be in the know of possible outcomes should they decide to accept your proposal.
A major factor to be considered in proposal bids is for one to effectively sell his idea or product, you need to give reasons and really good ones on why you should stand out as compared to others. These will help make your proposal great and it will stand you out.
