Describe the concept of variance analysis. Explain the
importance of variance analysis. Provide specific examples of how
variance analysis is beneficial to the organization.
The African ethical concept of Ubuntu. Define and
explain this concept as it relates to how ideas about social
justice can influence life choices on a micro level, as well as
culturally on a macro level.
Write short notes on the following to clearly define and explain
the concept. Support your answer with equations or graphs:
a) Exchange Rate Anchor
b) Capital Account
Define and describe the concept of a surety. In your response
define and describe the concept of an insurable interest and the
factor of risk as it applies to insurance.
A. Explain and define the concept of a social norm.
B. In what ways are norms and institutions useful? Also, how can
they be harmful? Consider the impact on individuals, and also on
society as a whole.
Define sampling distribution. b. Explain why the spread
(variance) of a sampling distribution for estimating a mean would
be smaller than the spread (variance) of the whole population.
c. Discuss what happens to the shape AND spread of a sampling
distribution as sample size (n) is increased.
d.Explain why it is essential that the sampling distribution be
normally distributed (or t-distributed) in order to do the
statistical inference procedures we use in Chapters 9, 10 and
11.