A small business uses a website to sell clothing and accessories. the owners use data analytics...

A small business uses a website to sell clothing and accessories. the owners use data analytics and have determined , based on the past 6 months of web visit data, that on any given day the website receives an average of, μ=300 visits (hits) per day.

(a) Using Chebysheff's theorem find the Chebysheff Confidence interval,Iκ, which indicates the number of consumers that will visit the website at least 75% of the time (days).

(b) If the average purchase per customer is $50. Based on the results in part a , what daily revenue can the owners expect at least 75% of the days?

A large data sample from the past 8 club tournaments was analyzed by the club pro instructing stuff who determined the following statistics (in strokes)for the golf scores recorded in the tournaments.

Max Score=140 Min Score=70 Average Score=90 Standard Deviation=8

(a) Find the Max/Min standardized score for a golfer whose score=105

(b)Calculate the normalized score,N, for a golfer whose score=114

Expert Solution

milcah answered 1 year ago

Because Facebook has the right to sell advertising and use data analytics to evaluate performance, do...

Because Facebook has the right to sell advertising and use data analytics to evaluate performance, do you feel there is a way for you to protect your privacy?

What is the relationship between business intelligence and analytics? How can managers use business analytics and...

What is the relationship between business intelligence and analytics? How can managers use business analytics and business intelligence to create successful organizational outcomes? Please provide a scenario, based on your experience, in which analytics and business intelligence was used successfully to achieve a business goal.

1. What is business/data analytics? 2. What are the three broad classifications of data analytics? 3....

1. What is business/data analytics? 2. What are the three broad classifications of data analytics? 3. How do businesses use data analytics? 4. Find a picture and/or diagram of the information pyramid and post it. Describe it in your own words. 5. What are three reasons why we study business analytics?

what is the difference between small business owners and entrepreneurs

Describe the use of data analytics in business intelligence solutions, including financial, legal, privacy, and ethical...

Describe the use of data analytics in business intelligence solutions, including financial, legal, privacy, and ethical issues. Explain how data analytics impact decision making within organizations.

How does data quality affect Business Analytics?

Business owners, especially owners of small or closely held businesses, often make expenditures that are motivated...

Business owners, especially owners of small or closely held businesses, often make expenditures that are motivated by both business and personal activities. These mixed-motive expenditures are of concern to the IRS. Explain why the IRS is concerned about these types of expenditures. Identify the common types of these expenditures and the restrictions placed on these expenditures, including, how do the rules for international travel differ from domestic travel?

Why does business law play a vital role to small business owners?

A buy-sell agreement is a legal contract between owners of a business. It does not require...

A buy-sell agreement is a legal contract between owners of a business. It does not require the purchase of life insurance. However, many times the owners do choose to purchase life insurance. What is the advantage of purchasing life insurance in a buy-sell arrangement

Discussion Topic: You run into to Vincent at a networking meeting for small business owners and...

Discussion Topic: You run into to Vincent at a networking meeting for small business owners and he asks you, as a fellow small business owner, to share and explain 2 ways your business is or will be different from your competitors in the areas of pricing, the use of technology, or distribution strategy. He also asks that you provide examples from your experience in your response.

Question