Participation and Discussion Questions Essay Example | Topics and Well Written Essays - 1000 words

Participation and Discussion Questions - Essay Example The total equaled 663365. The top eBook, Kama Sutra, received a frequency of 6185. The relative frequency for Kama Sutra is 6185 / 663365 or 0.93%. The relative frequency of the top five eBooks combined is 19271 / 663365 or 2.90%. The information given on the website provides data regarding downloads of eBooks, thus the entire demand illustrated on the website is for electronic books. The frequency distribution does not tell us anything directly about the behavior of hard copies of the books. On the hand indirectly the information can be used to create buyer behavior assumptions. The normal distribution is a normal curve in the form of a bell-shaped. The curve is symmetric about its mean. If the data set I choose was plotted in a normal distribution the number of downloads of the different authors would not have results that are unevenly dispersed. There is a difference between the average and the middle point in a list. The average is calculated by adding all the numbers and dividing them by the number of entries. This is not considered the middle number in a list, since the middle number is called a median. A median is the number that is in the middle of the list of the numbers that is arranged sequentially in terms of value. In the example given the mode is the median which is the value of 3.7. A real life example is determining how long it takes for me to complete a work set. In this case the average time would be a more valuable metric than the median time since the middle point among the set is not of as much value as knowing how much it typically takes me to complete a job. In order to find the middle point in a set I would write down all the different times it takes to complete the task. Then I would arrange the number from bottom to top. (ex. 2,6,8, etc.). This would create a list. The number in the middle of the list is the median. In making statistical decisions managers have to take into consideration different variables such as size