Give an example of statistic in the recovered music luxury. Give are example of
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Question
Give an example of statistic in the recovered music luxury. Give are example of the statistic be used in the recorded music industry. Compare the two examples. What the makes them difficult? Suppose you are an experience for a plant that manufacture statics could be used in the. Compare the two example of how you better managerial desiccations. There you are an experience for a plant that manufacture statics could be used in the. Compare the two example of how you better managerial desiccations. Suppose you are the cover of a medium sized an experience for a plant that manufacture statics business desertion about the restaurant for each variable briefly describe a numerical could be used in the two example of how you better of measuring the variable. The Rather burn Manufacturing Company mind electric which its sell to contractors in the construction industry. Approximately 900 electric contractors wire from Rat burn annually. Rathbones director wants to determine electric contraction satisfaction with Rather burn's wire. He developed a action naira that yields a satisfaction score between 10 50 for participant responses. A random sample of the 900 contractors is asked to complete a satisfaction. The satisfaction scores for the 35 panic par averaged to produce a mean satisfaction score, a. What in the population for this study? What is the sample for this study? What a the statistic for this study? What would be a parameter for this study?Explanation / Answer
1.3
Example of descriptive Statistics in the recorded music industry are:
a)Average revenue during a year due to sale of music CDs,DVDs.
b)Amount spend on advertisement
c)Average profit of the company during a year or during a month.
Inferential statistics on the other hand can be used to make inferences about the growth of revenue of music industry from some previously collected data.
Inferential Statistics:It can be used in the recorded music inductry to asses the significance of the growth of revenue of the company.We can randomly select some sample revenue for some year and using regression technique can determine or make an inference of whether the revnue is increasing or not,
4)Descriptive statistics can be used to meausre the total amount of raw material purchased in order to make or manufacture battery.Inferential Statistics can be used to make inference about the total number of batteries used by the general population is more than average of some other regions.Using some data collection procedure we can collect data for two regions randomly and propoer statistical test can be done to infer which region use more batteries.
6)Some of the variable that can be helpful are food cost,labor cost,advertisement cost. and number of customers visiting per day.For the first three variable the numerical observation is the cost .
Food cost=> Cost of food in the menu like $5 ,$6 etc.
Labor cost=> Monthly payment given to labor or per hour cost of labor.
Advertisement cost=>Cost of banner and add .Measure like $2000 in the month of January.
Customers=>3000 customers on an average visited restaurent per month.
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