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Describe practical applications of four statistical concepts.
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Practical Applications of Statistics Paper William R. Jones University of Phoenix QNT/530 Statistics and Research Methods for Managerial Decisions Dr. Lisa Webb April 27, 2004 Abstract The focus of this paper is to describe practical applications of four statistical concepts. The descriptions will include general information for using these concepts to improve business decision making. Practical Applications of Statistics Paper There are numerous instances for the use of measurements of central tendency, standard deviation, frequency distributions, and the empirical rule in daily statistical applications. This paper describes generalized definitions of these four statistical concepts. The descriptions will include general information related to using these concepts in business decision making. Frequency Distributions Whenever measures are arranged in order of magnitude and a frequency is recorded for each magnitude, the result is a frequency distribution. The curve, the frequency polygon, and the histogram are three ways of depicting a frequency distribution graphically. A normal curve encloses a normal distribution. The normal curve is...
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