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QNT Week2 DQ3 and 4
 
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WEEK 2:

3.      WK2-DQ3: Probability (Min. 150 Word Count)

 

Explain the statistical measures used in a box plot. Why are those statistics useful?

 

 

4.      WK2-DQ4: Probability (Min. 150 Word Count)

 

Describe a business situation, other than what has already been selected by fellow students or selected from the team assignment, where mean and standard deviation can be used in decision making. Describe how calculation of mean and standard deviation can help in making a decision. 

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  • Submitted On 03 May, 2012 07:50:34
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1.      WK2-DQ3: Probability (Min. 150 Word Count)
 
Explain the statistical measures used in a box plot. Why are those statistics useful?
 
Box plot is based on quartiles. It is a graphical way of measuring data. A box plot is constructed using the minimum value, the first quartile (Q1), the median, the third quartile (Q3), and the maximum value. The median is the central value, the first quartile is the 25 percent of the observations and

Word Count 410