Why can’t you depend on using the range of a large data set?

Expert Solution

TOPIC: Disadvantages of using range for a large data set.

orchestra answered 2 years ago

how does the annual temperature range depend on latitude? why does the annual temperature range depend...

how does the annual temperature range depend on latitude? why does the annual temperature range depend on latitude?

1. Using the Data Set, create and calculate the following in Excel®: Determine the range of...

1. Using the Data Set, create and calculate the following in Excel®: Determine the range of values in which you would expect to find the average weekly sales for the entire sales force in your company 90% of the time, and calculate the following: A. The impact of increasing the confidence level to 95% B. The impact of increasing the sample size to 150, assuming the same mean and standard deviation, but allowing the confidence level to remain at 90%...

If the range of a data set is 18, estimate the standard deviation of the data.

A large data set is separated into a training set and a test set. (a) Is...

A large data set is separated into a training set and a test set. (a) Is it necessary to do this randomly? Why or why not? (b) In R how might this separation be done in a reproducible way? (c) The statistician chooses 20% of the data for training and 80% for testing. Comment briefly on this—2 or 3 lines would be plenty.

Solve each measuring problem, or explain why it can’t be done. (You have unlimited water.) Using...

Solve each measuring problem, or explain why it can’t be done. (You have unlimited water.) Using 6 and 15 gallon jugs, measure (i) 3 gallons (ii) 4 gallons (iii) 5 gallons

If you were given a large data set, such as the sales over the last year...

If you were given a large data set, such as the sales over the last year of our top 100 customers, what might you be able to do with these data? What might be the benefits of describing the data?

Problem Set 1 You are the owner of a large data-services firm and are deciding on...

Problem Set 1 You are the owner of a large data-services firm and are deciding on the purchase of a new hardware cooling system that you expect will yield $233,300 in cost-savings per year for the next 15 years. The installation of this cooling system will cost $3,000,000. 1. At face value, does this system seem profitable? By how much? 2. Assume that your company uses a discount rate of 6%. a. What is the Net Present Value (NPV) of...

Problem Set 1 You are the owner of a large data-services firm and are deciding on...

Problem Set 1 You are the owner of a large data-services firm and are deciding on the purchase of a new hardware cooling system that you expect will yield $233,300 in cost-savings per year for the next 15 years. The installation of this cooling system will cost $3,000,000. 1. At face value, does this system seem profitable? By how much? 2. Assume that your company uses a discount rate of 6%. a. What is the Net Present Value (NPV) of...

Using a set of data, you will graph a budget constraint and express it as an...

Using a set of data, you will graph a budget constraint and express it as an algebraic equation. You will also determine the combination of two goods that gives the maximum total utility. Instruction: Suppose that as a consumer you have $34 per month to spend for munchies, either on pizzas which cost $6 each or on Twinkies which cost $4 each. Suppose further that your preferences are given by the following total utility table. Count 1 2 3 4...

Please find the range, sample standard deviation and inter-quartile range (IQR) of the following data set...

Please find the range, sample standard deviation and inter-quartile range (IQR) of the following data set using TI-84. 34 41 44 46 46 50 54 69 80 96 range = _____ (Please enter an exact answer.) standard deviation (ss) = _______ (Please show your answer to one decimal place.) Inter-Quartile-Range (IQR) = ________ (Please enter an exact answer.) A new number, 112, is added to the data set above. Please find the new range, sample standard deviation and IQR of...

Question

Why can’t you depend on using the range of a large data set?

Solutions

Expert Solution

Related Solutions

how does the annual temperature range depend on latitude? why does the annual temperature range depend...

1. Using the Data Set, create and calculate the following in Excel®: Determine the range of...

If the range of a data set is 18, estimate the standard deviation of the data.

A large data set is separated into a training set and a test set. (a) Is...

Solve each measuring problem, or explain why it can’t be done. (You have unlimited water.) Using...

If you were given a large data set, such as the sales over the last year...

Problem Set 1 You are the owner of a large data-services firm and are deciding on...

Problem Set 1 You are the owner of a large data-services firm and are deciding on...

Using a set of data, you will graph a budget constraint and express it as an...

Please find the range, sample standard deviation and inter-quartile range (IQR) of the following data set...