Business Statistics Is an Area Term Paper

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Using this data set we can calculate mean, median, mode, and standard deviation for this data set over last 20 years:

Mean can be found according to the following formula:

So mean February temperature equals to 33.825 F

Median of the data is the middle score after data has been set in order, so February temperature median equals to 33.7 F

Mode of the data is the value from data set which occurs most often. The mode of temperature sat data is 32.9 F

Standard deviation is a measure of the spread of data set values. It can be calculated by the following formula:

Standard deviation of temperature data set for February equals to 3,823181 F. The value of standard deviation witnesses that winter climate in New Jersey is very moderate without any considerable temperature jumps. Yet, we can mark that there is a current warming trend as the difference between the lowest average February records and highest average February records equals to 12.5 F.

Conduct a literature and internet search and write a paper of between

200-3-300 words explaining how permutation and combinations can be used in business today.

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Permutations and combinations techniques can be used in different areas of business analysis, especially in making decisions techniques and searches of the most optimal solution. Permutation and combination techniques allow optimizing problems of business decision choice as they allow to estimate the definite number of variants in the problems of making choice. Permutations and combinations techniques can be widely used in business analysis as they allow to evaluate the number of strategies and number of economic behavior variants in case of multiple choice business processes; these methods of combinatorics can be also used in analyzing stocks and forming the most profitable stocks portfolios. Using methods of permutation and combination we can calculate possible profits in case portfolio is formed of different stocks with different interest rate, different risks. After getting the total number of variants and possible amounts of profits and risk factors for each variant we can choose the most optimal for any time period either short time investment, or long time investment, can choose the safest variant of investment….....

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