After being introduced to a variety of topics in any subject, it is worthwhile to look back and analyze the value of the introductory content. Although every learning experience has some value, there is no doubt that some experiences are more valuable than others. A survey of statistical concepts is no different than any other […]
Tag Archive 'statistics'
Bank X is interested in determining if a correlation exists between online and total sales. Unfortunately, it would not be appropriate to investigate such a correlation since correlative analysis requires that the variables be independent (Moles & Terry, 1997). Since online sales are a subset of total sales, the two variables are related. Since a […]
TO: Bank X FROM: Scott Hebert DATE: April 30, 2009 SUBJECT: Cash Back Options Analysis After much deliberation, the executive team at Bank X has decided to utilize some form of cash back option for their new credit card offering. The choices have been narrowed down to offering cash back on either purchases made online […]
Contingency tables are used to analyze two variables. The tables are arranged in such a way that the frequency for one variable is represented in rows and the other variable is represented in columns. The primary purpose of contingency tables as a statistical method is to determine if the two variables are independent (Triola, 2008). […]
TO: Bank X FROM: Scott Hebert DATE: April 24, 2009 SUBJECT: Survey Accuracy And Budget Constraints In order for the executives at Bank X to determine the desirability of a credit card offering, it is necessary to estimate the mean cardholder spending per month. Bank X has requested that Information Experts conduct a survey to […]