1. In Business statistics and financing weve learned the importance of hypothesis testing
in the marketplace, in financial risk management there are many factors to consider and
methodologies to deploy, explain this process within hypothesis testing and the four
steps usedexplain each step-in detail.
2. Predictive analytics within business statistics is commonly used in linear regressionwe
have also investigated the relationships between two variables, its important to know the
differences and the similarities between correlation and regressionplease illustrate this
by using a real company (Fortune 500) of how this is applied business operations?
3. What is the strategic importance of a continuous random variable in todays fast pace
everchanging business marketplace can this really be measured? Provide one real
example (product/sourced commodity) of how this variable is measured and its overall
importance?
4. Provide an example of a high positive correlation and what other contributing factors
dictate its correlation? Select an industry (legal, medical, or business related) to
showcase this in real life. Please be specific in your analysis and the factors you utilized
for your example.
5. Why is scenario analysis/planning such a critical part of business operations? Does it
usually find an outcome for specific course of action? Or does it depend on the business
type, cycle, and overall setting? Provide one real example of an organization
(private/public). HINT: Amazon- Logistics
EXTRA CREDIT
6. Chi-Square distributionis often used in business when researching and analyzing data
or survey data. Provide an example of how this is done within all three categories of 1)
brand, 2) product or 3) demographic.
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