Statistical reasoning in everyday life

High School Statutory Authority: Algebra I, Adopted One Credit.

Statistical reasoning in everyday life

Using the model Statistical reasoning in everyday life find the solution: It is a simplified representation of the actual situation It need not be complete or exact in all respects It concentrates on the most essential relationships and ignores the less essential ones.

It is more easily understood than the empirical i. It can be used again and again for similar problems or can be modified. Fortunately the probabilistic and statistical methods for analysis and decision making under uncertainty are more numerous and powerful today than ever before.

The computer makes possible many practical applications. A few examples of business applications are the following: An auditor can use random sampling techniques to audit the accounts receivable for clients. A plant manager can use statistical quality control techniques to assure the quality of his production with a minimum of testing or inspection.

A financial analyst may use regression and correlation to help understand the relationship of a financial ratio to a set of other variables in business. A market researcher may use test of significace to accept or reject the hypotheses about a group of buyers to which the firm wishes to sell a particular product.

A sales manager may use statistical techniques to forecast sales for the coming year. What are the objectives of the study or the questions to be answered? What is the population to which the investigators intend to refer their findings? Is the study a planned experiment i.

Quantitative Reasoning: An Overview From this directive, four assessment initiatives were developed.
Standards for Mathematical Practice | Common Core State Standards Initiative MP1 Make sense of problems and persevere in solving them. Mathematically proficient students start by explaining to themselves the meaning of a problem and looking for entry points to its solution.
Frequently bought together Formulation of the problem[ edit ] Usually inferred from repeated observations: Usually not inferred from repeated observations:

How is the sample to be selected? Are there possible sources of selection, which would make the sample atypical or non-representative? If so, what provision is to be made to deal with this bias?

What is the nature of the control group, standard of comparison, or cost? Remember that statistical modeling means reflections before actions. Is the method of classification or of measurement consistent for all the subjects and relevant to Item No. Are the observations reliable and replicable to defend your finding?

Are the data sufficient and worthy of statistical analysis? If so, are the necessary conditions of the methods of statistical analysis appropriate to the source and nature of the data? The analysis must be correctly performed and interpreted. Which conclusions are justifiable by the findings?

Are the conclusions relevant to the questions posed in Item No. The finding must be represented clearly, objectively, in sufficient but non-technical terms and detail to enable the decision-maker e.

Is the finding internally consistent; i. Can the different representation be reconciled? When your findings and recommendation s are not clearly put, or framed in an appropriate manner understandable by the decision maker, then the decision maker does not feel convinced of the findings and therefore will not implement any of the recommendations.

You have wasted the time, money, etc. What is Business Statistics? The main objective of Business Statistics is to make inferences e. The condition for randomness is essential to make sure the sample is representative of the population.

It provides knowledge and skills to interpret and use statistical techniques in a variety of business applications. A typical Business Statistics course is intended for business majors, and covers statistical study, descriptive statistics collection, description, analysis, and summary of dataprobability, and the binomial and normal distributions, test of hypotheses and confidence intervals, linear regression, and correlation.

Statistics is a science of making decisions with respect to the characteristics of a group of persons or objects on the basis of numerical information obtained from a randomly selected sample of the group.

“We are saved by faith alone”

Statisticians refer to this numerical observation as realization of a random sample. However, notice that one cannot see a random sample. A random sample is only a sample of a finite outcomes of a random process. At the planning stage of a statistical investigation, the question of sample size n is critical.

For example, sample size for sampling from a finite population of size N, is set at: Clearly, a larger sample provides more relevant information, and as a result a more accurate estimation and better statistical judgement regarding test of hypotheses.

Chapter Subchapter C

Under-lit Streets and the Crimes Rate:Q: What do the “Christian beliefs” in the list below have in common? A: None of them are taught by the Bible.

Statistical reasoning in everyday life

“Christian beliefs” that the Bible doesn’t teach: There is a Trinity of Persons in God We are saved by faith alone Jesus died . This bar-code number lets you verify that you're getting exactly the right version or edition of a book. The digit and digit formats both work.

Description. Statistical Reasoning for Everyday Life, Third Edition, teaches students how to be better consumers of information by showing the role of statistics in many aspects of everyday text uses real examples and case studies to build an understanding of the core ideas of statistics that can be applied to a variety of subject areas.

For courses in Statistical Literacy. A qualitative approach teaches students how to reason using statistics. Understanding the core ideas behind statistics is crucial to everyday .

Statistical reasoning in everyday life

Study Flashcards On Statistical Reasoning for Everyday Life Chapter 1: Speaking of Statistics at Quickly memorize the terms, phrases and much more. makes it easy to get the grade you want!/5(1).

Statistical Reasoning for Everyday Life Buy Direct Buy on Amazon This book is intended for use in the statistical literacy course or an introductory statistics course that emphasizes concepts over computation.

Statistical Reasoning for Everyday Life by Jeffrey O. Bennett