Standard Deviations
ALTERNATIVE ASSIGNMENT FOR WEEK 3 The Business Side of Standard Deviation
You are a statistician analyst for a local cable company and you must present an analysis of the financial data to the executives, including predicted number of customers in three ranges using Empirical rule, and in two ranges using Chebyshev rule.
The table below shows a sample of customer statements for the month of February 2017
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AMOUNTS DUE BY CUSTOMERS OF A CABLE TV LLC IN JANUARY 2017 |
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Generate 30 values using the following procedure
1.
Open EXCEL
2.
Open Data
3.
Click on Data Analysis
4.
Choose Random Number generator
5.
Enter 1 in Number of Variables
6.
Enter 30 in the Number of random numbers field
7.
Choose Normal; in the Distribution field
8.
Choose New worksheet
Calculate the mean and the standard deviation of the data in the table
Discuss what the mean and the standard deviation means.
Analyze data using the empirical rule and the Chebyshev rule,
Create a 10-slide (first slide: Title of the presentation and introduction of participants, last slide: Executive summary of the findings.) Microsoft® PowerPoint® presentation including detailed speaker notes in which you include the following:
- Graphs of data.
- Explain the role of the mean and the standard deviation in the analysis.
- Present detailed findings of the problem
- Explain any other uses for standard deviation in a business setting.
Click the Assignment Files tab to submit your assignment.
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