Your boss is very interested in the variability of waste and wants to know more. You provide her with the following statistics from the original population data (Table #1) you gathered to help her better understand the waste variability. Do you best to explain these things in your report, or visually try to represent them to help your boss grasp these difficult concepts: The Mean The Standard Deviation Using the Empirical Rule, you show her where 68%, 95%, and 99.7% of all weekly observations (pounds of waste) will fall. Your boss is super interested and wants to know more! She wants to know: The probability of having more than 540 pounds of waste in a given week. The probability of having less than 450 pounds of waste in a given week.
Your boss is very interested in the variability of waste and wants to know more. You provide her with the following statistics from the original population data (Table #1) you gathered to help her better understand the waste variability. Do you best to explain these things in your report, or visually try to represent them to help your boss grasp these difficult concepts: The Mean The Standard Deviation Using the Empirical Rule, you show her where 68%, 95%, and 99.7% of all weekly observations (pounds of waste) will fall. Your boss is super interested and wants to know more! She wants to know: The probability of having more than 540 pounds of waste in a given week. The probability of having less than 450 pounds of waste in a given week.
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Question
Your boss is very interested in the variability of waste and wants to know more. You provide her with the following statistics from the original population data (Table #1) you gathered to help her better understand the waste variability. Do you best to explain these things in your report, or visually try to represent them to help your boss grasp these difficult concepts:
- The Mean
- The Standard Deviation
- Using the Empirical Rule, you show her where 68%, 95%, and 99.7% of all weekly observations (pounds of waste) will fall.
Your boss is super interested and wants to know more! She wants to know:
- The probability of having more than 540 pounds of waste in a given week.
- The probability of having less than 450 pounds of waste in a given week.
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