Inferential Statistics For Decision Making

Discuss, elaborate, and reflect on the following from chapters 3 & 4. I have listed the important topics that you have to include in your discussions. Give examples and elaborate on the applications of the topic.
Here are the important topics in chapter 3 & 4.

Chapter-3 Topics:
• Measures of Central Tendency; mean, median, and mode
• When and how to use mean, median, and mode.
• Determining skewness from mean and median

Chapter-4 Topics:
• The concept of variability and how to use it.
• Range of distribution
• What is interquartile range of distribution how do you interpret it.
• How do you calculate standard deviation and variance for a grouped and ungrouped data?

 

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