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Statistics: Data-Driven Decision Making

05 / 03 / 2018 Assignment

This paper circulates around the core theme of Statistics: Data-Driven Decision Making together with its essential aspects. It has been reviewed and purchased by the majority of students thus, this paper is rated 4.8 out of 5 points by the students. In addition to this, the price of this paper commences from £ 45. To get this paper written from the scratch, order this assignment now. 100% confidential, 100% plagiarism-free.

Statistics is a very powerful topic that is used on a daily basis in many situations. For example, you may be interested in the age of the men who attend Silver’s Gym. You could not assume that all men are the same age. Thus, it would be an inaccurate measure to state that “the average age of men who attend Silver’s Gym is the same age as me.”

Averages are only one type of statistical measurements that may be of interest. For example, your company likes to gauge sales during a certain time of year and to keep costs low to a point that the business is making money. These various statistical measurements are important in the world of statistics because they help you make general conclusions about a given population or sample.

To assist in your analysis for Silver’s Gym, answer the following questions about the Body Fat Versus Weight data set:

Clickhere to download the Body Fat Weight data set.

  • Calculate the mean, median, range, and standard deviation for the Body Fat Versus Weight data set. Report your findings, and interpret the meanings of each measurement. Notice you are to calculate the mean, median, range, and standard deviation for the body fat and for the weight.
  • The measures of central tendency are important in real-world situations.

    • What is the importance of finding the mean/median? Why might you find this information useful?
  • In some data sets, the mean is more important than the median. For example, you want to know your mean overall grade average because the median grade average would be meaningless. However, you might be interested in a median salary to see the middle value of where salaries fall. Explain which measure, the mean or the median, is more applicable for this data set and this problem.
  • What is the importance of finding the range/standard deviation? Why might you find this information useful?

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