of Days to Sale % = 57.10% Data for Beltway Shoes Price of $120 = 120.00 87.93 68.52 Eastern Region - Beltway Shoe Company Descriptive Statistics % Ratio of Data Original Price ($) Sale Price ($) No. of Days to Sell (days) Mean = Point Estimate = 108.62 85.24 62.36 Original Price to Sales Price % = 78.48% Original Price to No. of Days to Sale % = 57.41% Data for Beltway Shoes Price of $125 = 125.00 98.09 71.76 Note: Data was compiled from Colorado State University - Global Campus. (2015). Module 5 – Sampling and Statistical Inference [Critical Thinking file named shoes.xls]. In MTH410 – Quantitative business analysis. Greenwood Village, CO; Author Conclusion The Beltway Shoe Company has taken data points for their western and eastern region for shoe sales. Using statistical data such as mean, median, range, and standard deviation, along with confidence interval estimates for the sale price and days to sell, management is able to understand which region is performing better in profits and days to sell. Further study of the data will allow management to increase profits in both regions by comparing which shoes are selling more quickly and at higher profits. Management is also able to set pricing for shoes based on the data and maintain similar profit results. Understanding and using the data they collected will help to improve profits and reduce inventory, which will increase…
try to estimate and combine the evidence from the data to reach a Bayesian posterior probability distribution. This posterior probability distribution supposedly contains all information about the parameter. Therefore, we could make inferences solely based on this distribution. Lots of literature has addressed the benefits of using this method. In my opinions, Bayesian approach has its advantages in medical research. First, under the situation where researchers cannot recruit enough participants…
Condominiums for Sale The cost or real estate can differ from region to region and with size and quality. One factor that greatly effects the sale of a piece of property with a view. Such is the data that will be analyzed herein. Can the data support the fact that there will be buyers willing to pay more for a condominium with a view? Consequently, would a comparable home without a view that is considerably less expensive actually take longer to sell? Overview of the Condominiums for sale The…
make inferences…
Different types of inferences: What are inferences used for? Whether experimental or review in purpose, most studies have laid out meticulously detailed analyses of the types of inference that exist in their authors’ view of comprehension. The literature has been prolific in distinguishing various types and categories of inference, ranging from thirteen, described in Graesser et al. (1994), nine in Pressley and Afflerbach (1995), to the more usual two, adopted by many more researchers. Even…
time left to write the paragraph, I assessed the table that the students filled out with the evidence, their schema, and the inference, which for the most part covers the information needed in the paragraph. As I looked at the papers, 3 of the students were struggling to put more than the items names, therefore I assume they could not infer or did not understand the question. Other 2 students were not able to finish more than 80% of the table, but they made good inferences. The rest of the…
meets the following two conditions: good inference, and true premises. That is, the conclusion must logically follow from the premises and all the propositions must be true. “The conclusion of a sound argument cannot be false. It has to be true” (Ancell). The indisputable nature of the conclusion is the power of a sound argument. If an argument meets one condition and not the other, it is not considered sound and is therefore flawed. To further understand their faulty nature, one must examine…
hypothesis at 0.05 significant levels and the determination of 95% confidence intervals are performed to evaluate the validity of the manager’s speculations. The results are reported in the following part. Speculation A: The average (mean) annual income is less than $50,000. According to the statistical analysis of 50 sample customers, we can assume that the average annual income of the store credit customer is less than $50,000. The sample mean of 50 customers is $43,740 with sample standard…
(2015). Module 8 – Sampling and Statistical Inference [Critical Thinking file named abuse.xls]. In MTH410 – Quantitative business analysis. Greenwood Village, CO; Author Table 6 Hypothesis Test – p-value approach to determine proportion of all Rocky University students who answered NO to participating in any type of substance abuse. Note: Data was compiled from Colorado State University - Global Campus. (2015). Module 8 – Sampling and Statistical Inference [Critical Thinking file named…
How do stereotypes and inferences affect other’s understanding of ourselves. Have you ever guessed anything about someone you didn’t know well? Chances are that we all have. Stereotyping, the simple act of just inferring something about somebody or having prejudice without past knowledge, is immensely common nowadays. The Outsiders, by S.E Hinton is scattered with stereotyping and inferences. When I started reading the book I didn’t notice stereotyping or anything of that sort in the book.…