Decision Making FOr KIM WOODS

Use the same data set that was outlined in Week 3.

 

The same rules apply in terms of using outside resources:

 

Write a 750-900 paper in which you address the following

 

1.  Develop a frequency table for a discrete variable.  Show both the relative frequencies and cumulative relative frequencies.  What would the probability distribution be for this discrete variable.

 

2.  Develop a frequency table for classifications of a continuous variable.  Show both the relative frequencies and cumulative relative frequencies.  What would the probability distribution be for this continuous variable?

 

3.  Discuss the properties of a normal distribution curve.  In your opinion, are your distributions for #1 or #2 normal?

 

4.  Select a variable and determine the percentage of data that falls within the ranges of

—  1 standard deviation below the mean to 1 standard deviation above the mean

—  2 standard deviations below the mean to 2 standard deviations above the mean

—  3 standard deviations below the mean to 3 standard deviations above the mean

Does your data reflect the empirical rule?

 

5.  Discuss whether historical, classical or subjective probability might help you with your analysis.  Describe each in the context of your problem and what you could learn from it.

 

6.  Consider how you might use the data to help you solve the problem or realize the opportunity identified in Week 3.  Do you have sufficient statistical tools at this point to accomplish that?  Why or why not? 

 

 

Format your assignment consistent with APA guidelines.