Using the concept of variance, explain why a point estimate from data could be misleading

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orchestra answered 2 years ago

Explain why variances could be misleading to managers. Differences are not always bad...or are they? What...

Explain why variances could be misleading to managers. Differences are not always bad...or are they? What are some measures that you might suggest to control costs?

What is the best point estimate for the population's variance if the sample standard deviation is...

What is the best point estimate for the population's variance if the sample standard deviation is 3.7? Round your answer to one decimal place, if necessary.

In a one-way analysis of variance problem, explain what the estimate of the variance of individual...

In a one-way analysis of variance problem, explain what the estimate of the variance of individual measurements (i.e. quirkiness of the people or error)?

Define and explain the following concept: Sheppard's Correction for the variance.

Using the data set from the previous question (scatterplot.xlsx). With the data point with the smallest...

Using the data set from the previous question (scatterplot.xlsx). With the data point with the smallest x value removed, the scatter plot now suggests a ________ ["nonlinear" OR "linear"] relationship between the dependent and independent variables. Data: x y 45 2358 56 4204 26 287 54 3849 24 925 23 3273 34 -678 45 3748 47 2898 43 1974 32 226

Describe the concept of variance analysis. Explain the importance of variance analysis. Provide specific examples of...

Describe the concept of variance analysis. Explain the importance of variance analysis. Provide specific examples of how variance analysis is beneficial to the organization.

We use sample data to estimate population parameters and point estimate and interval estimate are two...

We use sample data to estimate population parameters and point estimate and interval estimate are two typical tools of such estimation. Please discuss them answering the following questions. 1) Briefly discuss about how point estimate and confidence interval are different to each other. 2) Discuss about way(s) to secure unbiased and efficient point estimators. 3) Discuss about the effects of confidence level (or, Z-score) and sample size on the width of confidence interval. Is it good or bad to have...

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