QNT 561 Statictics Week 1 DQ | Bikaal

QNT 561 Statictics Week 1 DQ

  • When would you use descriptive over inferential statistics? Provide a specific scenario and explain your rationale.
  • How may variance and standard deviation be applied to a real-world business-related problem? Provide a specific application in which these measures are useful.
  • When would you use Chebyshev’s theorem and the empirical rule in business? How are they calculated? Provide one real-life example that requires Chebyshev’s theorem and one that requires the empirical rule.
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