Purchase Solution

Statistics and Data Analysis

Not what you're looking for?

Ask Custom Question

Please assist by providing brief answers to the following questions:

1. Explain the difference between data and information.
2. What is the difference between a population and a sample?
3. List the different types of charts available in Excel, and explain characteristics of data sets that make each chart most appropriate to use.
4. What does skewness measure? Interpret the value of the coefficient of skewness as obtained in Excel.
5. What is a proportion? Provide some practical examples where proportions are used in business.

Purchase this Solution
Solution Summary

This solution offers definitions of several statistical concepts: data vs. information, population vs. sample, skewness, and proportion. Examples of each are also given. Also, an introductory explanation of the charts available in Excel is included. This solution does not include calculations.

Solution Preview

Dear Student:

Q1. Data and Information

In statistics, data refers to raw data that was collected in order to perform a statistical analysis. Data can be nominal (e.g. colors red, blue, green, orange), ordinal (e.g. ranking of a university in a national survey), interval (e.g. temperature, shoe size), and ratio (e.g. amount of money in your bank account).

Information is something that you find in a book or on the internet. It can be correct or incorrect. You determine the reliability of information by looking support in other sources, but you cannot statistically check if it is correct or not.

Q2. Population and sample

Population is a collection of all possible individuals, objects, or measurements of interest. (Lind et al., 2002, p. 7). It can be the population of the United States, all students in your school, or all customers of Macy's.

Sample is a portion, or part, of the population of interest. (Lind et al., 2002, p. 7). You cannot investigate all people in the United States and ...

Purchase this Solution
Free BrainMass Quizzes
IPOs

This Quiz is compiled of questions that pertain to IPOs (Initial Public Offerings)

SWOT

This quiz will test your understanding of the SWOT analysis, including terms, concepts, uses, advantages, and process.

Paradigms and Frameworks of Management Research

This quiz evaluates your understanding of the paradigm-based and epistimological frameworks of research. It is intended for advanced students.

Operations Management

This quiz tests a student's knowledge about Operations Management

Understanding Management

This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.

View More Free Quizzes
Related BrainMass Solutions

  • Descriptive Data Analysis

    and Models (Inferential Statistics) (1) However, in descriptive data analysis, the third step mentioned by Trochin is not employed.

  • Descriptive Statistics Use in Conducting Research

    Descriptive statistics makes use of simple graphical analysis to convey basic information about a data and thus, can be considered a vital platform for almost all types of quantitative analysis of data.

  • Statistics

    Descriptive statistics can be used to describe any of your variables, both the dependent and independent variables. The solution provides definitions for the terms "data mining", "descriptive statistics", and "regression analysis".

  • The Importance of a Data Analysis Plan

    A data analysis plan is important for good business research because in most cases, data analysis and interpretation can easily become costliest and most time consuming aspect of the intended evaluation.

  • A group of 10 employees has rated each of four leadership models. The sample data is listed in the attached spreadsheet.

    I am requesting the following be done on the data: ANOVA, regression analysis, descriptive statistics, correlation, and scattergram(s). Then I must interpret the statistics. Please see the attached file.

  • Quantitative and Qualitative Research Studies

    Quantitative data isn't subjective and involves the use of surveys, analysis of statistics, and other objective data collecting tools that can be analyzed and tested.

  • Descriptive Statistics Data Analysis

    226793 Descriptive Statistics Data Analysis 2. Descriptive Statistics Paper Adding to your Week 3 paper, prepare and submit a 1,050-1,750-word paper examining the data you have collected, and drawing conclusions based on your findings.

  • The Advantages and Disadvantages of Statistical Analysis

    This process is referred to as data analysis or descriptive statistics.

  • The Procedures of Data Analysis

    Quantitative Data and analysis As noted, inferential statistics makes a statement about a population based on results from a sample taken from the population.

  • Steps in Data Analysis

    First off, don't evr be fearful of statistics and the process of data analysis. Statistics are not haunting, mystical or foreboding. Statistics do not involve analytical geometry or advanced calculus.

View More Related Solutions