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How does the use of statistics affect people's decision making?
Numbers are powerful. This is one of the reasons why statistics can be such persuasive pieces of evidence. We too often accept them, without ever questioning their veracity or appropriateness.
How do cumulative Type 1 errors affect decision making?
This is when you reject a null hypothesis even though it is actually true...Example:1. A man is on trial for murder, he is actually INNOCENT, but found GUILTY - That is a Type I error2. A man is on trial for murder he is actually GUILTY, but found INNOCENT - That is a Type II error
What does misspread mean?
"Misspread" typically refers to an incorrect or inaccurate spread in various contexts, such as finance or betting. It can occur when the odds or prices presented do not accurately reflect the underlying probabilities or conditions. This term highlights the potential for errors or miscalculations that can affect decision-making and outcomes. Overall, it signifies a discrepancy that could lead to misunderstandings or financial losses.
How does the outlier affect the mean median mode?
An outlier can increase or decrease the mean and median It usually doesn't affect the mode
Does outliers affects data?
No. Outliers are part of the data and do not affect them. They will, however, affect statistics based on the data and inferences based on the data.
How did the Court decision in the slaughterhouse cases affect American businesses?
it showed that business have rights
How did the supreme court decision in slaughterhouse cases affect American businesses?
it showed that business have rights
Challenges presidents face?
Presidents face challenges everyday and are scrutinized for every decision they make. They must be a leader and show confidence for the people. They have to make decisions that can affect millions of people.
How location and layout decision affect performance of a business?
We must know about various factors related to performance of business like Profitability, Output, Productivity, Optimal utilization of resources, Cost curtailment, Growth Expansion and Customber satisfaction etc. Location and layout decision definitely affect over the performance of a foreign bank branch.
How did the Depression affect peoples confidence in democracy?
There is no answer
What factors affect region location decision?
What factors affect region location decision?
Why is statistical significance not necessarily of practical importance to a business decision?
Some data in statistics can affect numbers, which will skew the data. When this happens managers should make business decisions that ignore the stats.
How did the Great Depression affect the people's confidence in democracy?
There is no answer
How does consumer confidence affect the economy?
Increases purchases from producers
How does religion affect business in England?
how does religion affect business in England
What are Environmental factors that affect a business?
how environmental factors affect in business
How does business and accounting affect the society?
how does business and accounting affect in the society
