COMM 215 : Measures of Central Tendency and Variability - Business Assignment Help

Assignment Task :

Questions:

1- Answer the following questions using the measures of central tendency and variability:   
a. Summarize the cost effectiveness (COST) and total assets (SIZE) of all the firms.  
b. Interpret the existence or lack of a symmetry in the distributions of COST and SIZE of all the companies.  
c. Compare the cost effectiveness and size of the companies between the three categories of industry risk.  
d. Compare the cost effectiveness and size of the companies between the three categories of importance they place on the use of analytics in managing risks.  

 
2- Having described in general the distribution of the SIZE of all the companies using measures of central tendency and variability in Question 1, now explain more specifically the symmetry and skewness of the distribution.  
 
a. What can you conclude about the distribution (including skewness, outliers) of the size of all companies? Justify your answer by a boxplot, and a stem-and-leaf display. 
b. How many outliers (on either end) are there in part a?
c. Compare the distributions of size of companies in the 3 categories of industry risk using box plots. What conclusions can you draw from your observations of the box plots?  

3- Using pie chart and histogram

a. Illustrate the difference between the frequency and the relative frequency of all firms in the “low”, “medium” and “high” risk industries as well as the “low”, “medium”, and “high” importance of analytics categories. 
b. Compare your results of the frequency distributions between the categories of RISK and ANALYSIS.

4- Describe the bivariate relationship between cost and size by graphing it. Interpret the graph.  

5- Create joint probability and relative joint probability tables describing the two qualitative variables and answer the following questions:

a. What is the relationship between the two marginal probability tables you have created? 
b. What is the probability of selecting a firm that places a low importance on analytics? 
c. What is the probability of selecting a firm that operates in a medium risk industry and places a high importance on the use of analytics?
d. Given that you have selected a firm operating in a high-risk industry, what is the probability that the firm place a high importance on the use of analytics?
e. What is the probability of selecting a firm that places a medium importance on analytics or operates in a low risk industry? Use a Venn diagram to illustrate this problem.
f. Are the categories high RISK and medium ANALYSIS dependent or independent of each other? Explain and justify your response.

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