by Dan | Nov 4, 2020 | Statistics
1) The BelSante Company operates retail pharmacies in 10 Eastern states. Recently, the company’s internal audit department selected a random sample of 300 prescriptions issues through a system. The objective of the sampling was to estimate the average dollar value of...
by Dan | May 16, 2020 | Statistics
Statistical inference is a concept that is not too difficult to understand when using cross-sectional data. For example, a population mean is not the same as a sample mean. There is uncertainty regarding the population mean given sample information and thus we have to...
by Dan | Sep 3, 2018 | Main
Suppose that there are two (2) candidates (i.e., Jones and Johns) in the upcoming presidential election. Sara notes that she has discussed the presidential election candidates with 21 friends, and 14 said that they are voting for candidate Jones. Sara is therefore...
