Badm graphs | Management homework help
1. In your own words, describe what the graph seems to be saying and what the problem is with that display. Also, characterize the nature of the problem by categorizing your example (among the many possibilities of ways to mislead people using data) and describe the category as completely as possible.
Use the following link:
Statistics How To: Misleading Graphs: Real Life Examples
2. After checking out Excel and JMP software tutorials below, provide a computerized results to analyze the data below.
JMP Tutorial: https://www.youtube.com/watch?v=zT2VoUEc984
Excel Manual – file attached
US Wildfires Data – file attached
3. A popular retail store knows that the distribution of purchase amounts by its customers is approximately normal with a mean of $30 and a standard deviation of $9. Below you will find normal probability and percentile calculations related to the customer purchase amounts.
P(Sales < $ 15.00) = 0.048, P(Sales < $ 20.00) = 0.133
P(Sales < $ 25.00) = 0.289, P(Sales < $ 35.00) = 0.711
1st Percentile = $9.06, 5th Percentile = $15.20
95th Percentile = $44.80, 99th Percentile = $50.94
What is the probability that a randomly selected customer will spend less than $15?
4. Describe the difference between a Level 1 and Level 2 Error, including where the error is actually determined. Then, refer to the table called “Key Takeaway” at the end of the Activity. Do any of the steps identified include resolving whether a Type 1 or Type 2 error has occurred? If so, which step is involved, and what specifically should you do? If not, suggest a revision to the Key Takeaway that would include such a determination.