BIS 155 iLab 8( Week 7) Descriptive statistics, formatting, graphs, and regression analysis
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You should include a final paragraph that explains three things you learned about using Excel for data analysis. Be sure to submit your work for this iLab to the Dropbox basket labeled Week 6: iLab 7 ================================================= =
BIS 155 iLab 8( Week 7) Descriptive statistics, formatting, graphs, and regression analysis
For more course tutorials visit www. uophelp. com
Scenario / Summary Hopefully you will find this week ' s iLab activity fun and useful. We ' ll be exploring the world of statistics from a business perspective this week, allowing you to practice your skills with descriptive statistics, formatting, graphs, and regression analysis. As discussed in the lesson, the value of statistics lies in the ability to analyze data more effectively for the purpose of improving decision making. You might have heard the expression that " statistics never lie, and only liars use statistics ". There is an obvious truth in this statement, in that, depending on the questions being asked and the data collected, the statistics can skew reality. For example, it is true that as ice cream sales increase, accidents at swimming pools increase. Does this mean that the more ice cream that is sold, the more accidents it causes( correlation / causation)? Of course not, but the data, if not interpreted correctly, could lead to false conclusions. It just so happens that both are correlated to a rise in temperature in the summertime. The hotter it is outside, the more kids flock to swimming pools, leading to more accidents, and the more ice cream is sold. So you see, although statistics are vital in the world of decision making, you have to be wise, and ask the right questions.
STEP 1: Getting Started— Worksheet Template Please download this week ' s iLab file: Week7 _ iLab _ Statistics