Statistical Quantitive Methods Essay Example | Topics and Well Written Essays - 1000 words

Statistical Quantitive Methods - Essay Example marketing manager has indicated that she wants to know how long it takes Internet users to access your company’s internet screen, since there is concern it is taking too long and deterring interest. You have asked colleagues and friends at a variety of other organisations to access your own company’s web site and keep a careful record of how long it took them to get into the company’s home page. i. Explain which measure(s) of average and dispersion you would suggest using for this data and the reasons for your preference. You are required to justify the choice of the Statistical Quantities made and calculate these quantities. Other statistical tools that would best describe this data are standard deviation, Measure of skewness and kurtosis. The standard deviation will tell a manger how tight various samples are clustered around the mean giving him the cohesiveness of the data he has. Measures of skewness and kurtosis give a visual analysis of the data that the manager can use to draw quick conclusions. III a) The Quality Control department of TV tube manufacturer has observed that on an average out of every 10000 tubes produced, 5 are found to be defective. If a sample of 20 bulbs is selected, what is the probability that non are defective. What is the probability that for the same sample size that at least two are defective? We know that probability is a long term relative frequency so that every probability of an occurrence of an event corresponds a function in distribution. Using this concept we can find the average (mean) number of defective bulbs then we can get the number of defective bulbs in 20 bulbs then reconvert to probability. b) A consultancy firm submits three proposals for consideration by three different clients. It considers that the chances of the proposals being accepted are 0.5, 0.3 and 0.25 respectively .what is the probability