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3 years ago

What is an example of statistical reasoning?

Business

1 answer:

zubka84 [21]3 years ago

5 0

Answer/Explanation:

Statistics educators often talk about their desired learning goals for students, and invariably, refer to outcomes such as being statistically literate, thinking statistically, and using good statistical reasoning. Despite the frequent reference to these outcomes and terms, there have been no agreed upon definitions or distinctions. Therefore, the following definitions were proposed by Garfield (2005 and have been elaborated in Garfield and Ben-Zvi (2008).

Statistical literacy is regarded as a key ability expected of citizens in information-laden societies, and is often touted as an expected outcome of schooling and as a necessary component of adults’ numeracy and literacy. Statistical literacy involves understanding and using the basic language and tools of statistics: knowing what basic statistical terms mean, understanding the use of simple statistical symbols, and recognizing and being able to interpret different representations of data (Garfield 1999; Rumsey 2002; Snell 1999)

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Jose wants to be sure he maintains a high credit score as he is planning to buy a new car soon. What should be do to ensure his

jolli1 [7]

<span>Jose wants to be sure he maintains a high credit score as he is planning to buy a new car soon. What should be do to ensure his score stays high, allowing him to buy his dream car?

A Open a savings account at the local bank.

B Pay off his credit card balance each month.

C Test drive several cars before deciding which to buy.

D All are things he should do to increase or maintain his credit score.

The answer is D.

</span>i think that the answer is D because it depends on what Jose pefers to do.\

And it makes sense.... if im wrong just comment and tell me.

3 0

3 years ago

Unhappy with the speed with which the company's export initiative was going, the CEO called Mary Adams, the person in charge of

madreJ [45]

Answer:

Exporters often face voluminous paperwork, complex formalities and many potential delays and errors

Explanation:

A valid defense by Mary Adams for the delay in processing exports will be one that is a real challenge and is relevant to the inquiry being made.

Exporters normally deal with large volume of paperwork that shows details of exports, approvals, letters of credit, and other relevant information related to the transaction.

Apart from this access to foreign exchange, formalities of custom processes, and dealing with clearing agents wastes a lot of time.

A valid excuse for Mary to make will be: exporters often face voluminous paperwork, complex formalities and many potential delays and errors

7 0

3 years ago

The new Fore and Aft Marina is to be located on the Ohio River near Madison, Indiana. Assume that Fore and Aft decides to build

ValentinkaMS [17]

Answer:

a. P0 = 0.5686

b Lq = 0.0467

c. Wq 0.0093 hours

d. W= 0.1205 hours.

e. Yes

Explanation:

This is a case of a multiple-server queuing Model.

The average arrival rate, λ = 5 per hour .

The average service rate, µ = 9 per hour .

The number of servers (k) = 2 .

The ratio λ/µ = 5/9 = 0.556. The nearest value from the table (attached as image) is 0.55.

a. P0 = 0.5686

b. Lq can be obtained using the formula below.

Lq = λ.μ((λ/μ))^s)P0 /((s-1)!(s.μ) - λ)^2)

Lq = 5*9*((5/9)^2)*0.5686/((2-1)!*(2*9 - 5)^2) = 0.0467

c. Wq can be obtained using the formula below

Wq = Lq / λ = 0.0467/5 = 0.0093 hours

d. The average time a boat will spend at the dock, W

W= Wq + 1/µ = 0.0093 + 1/9 = 0.1205 hours.

e. The average service time is 6 minutes (60/10), and the average waiting time is also 6 minutes. Since the average time, a boat will spend waiting is just 6 minutes, which is acceptable. Hence, the level of service is satisfactory.

4 0

3 years ago

Tyare Corporation had the following inventory balances at the beginning and end of May:

Oksana_A [137]

Answer:

a. $5,460

Explanation:

The computation of the ending amount of direct labor cost is shown below:

First we have to compute the direct labor hours which is

= Ending work in process - direct materials cost

= $17,578 - $7,750

= $9,828

The total per direct labor hours is

= $12 + $15

= $27

So, the direct labor hours would be

= $9,828 ÷ $27

= 364 hours

So, the ending direct labor cost is

= 364 hours × $15 per hour

= $5,460

6 0

3 years ago

Bauer Software's current balance sheet shows total common equity of $5,125,000. The company has 520,000 shares of stock outstand

Andrew [12]

Answer:

$17.64

Explanation:

Calculation for By how much do the firm's market and book values per share differ

Using this formula

Market and book values per share=[Price per share- (Total common equity/Shares of stock outstanding)]

Let plug in the formula

Market and book values per share=[$27.50 per share-($5,125,000 / 520,000)

Market and book values per share=($27.50 per share -$9.86)

Market and book values per share=$17.64

Therefore By how much do the firm's market and book values per share differ is $17.64

6 0

3 years ago