Essays on Outlier

Chapter 1

The main idea of “The Matthew Effect” is that people frequently attribute success to individual characteristics that they consider to be rare, such as genius or talent. However, oftentimes the real explanation for that success has to do with advantages that are not accessible to the public. The analogy that he provides has to do with the factors that create the tallest tree in a particular forest. It is true that the tree came from a quality seed, but that seed (and sapling) did not have any other trees blocking its sunlight, and the seed was planted in fertile ...

A JOURNALISTIC PROFILE

Elon Musk: A Journalistic Profile While the world rightfully acknowledges the contributions that such people as Bill Gates, Steve Jobs, Larry Page and Sergey Brin, and Mark Zuckerberg have made to the world of technology and science; one person whose contributions may significantly surpass these five leaders and influencers is Elon Musk. Though Musk is widely known as the CEO and creative influence behind Tesla Motors, the auto manufacturer known across the world for its innovative and highly stylized electric sports cars, what few realize is that Musk has been operating at the intersection of science, information technology, entrepreneurship ...

Company 1

E-mini S&P 500 Index Futures, Se (Yahoo! Finance, 2016) Mean Price: 2153.194 Median Price: 2163.25 Company 2 Nasdaq Composite (Yahoo! Finance, 2016) Mean Price: 5070.243 Median Price: 5081.915 Mean vs Median Mean and Median are both statistical parameters which describes a certain set of data. Though they are both situated in the middle value of a data set, their actual values are different due to certain reasons. First, mean is the average of the whole data set, meaning, when each of the data is added up and then divided with the total number of data, then mean is obtained. ...

The primary difference between a data warehouse and a database is the that a data warehouse is a repository of data that has been obtained from different sources over time, and that is stored in a unified schema and is typically used for decision support and analysis. On the other hand, a database is a representation of the presented status of particular data that has been stored and is mainly used to handle live quires and online transactions. The similarities between a database and data warehouse are that they are both means of storing large amounts of data. Characterization ...

Question 1

a) Random sampling is a method of sampling in which each member of a population has equal chances of being included into the sample. Each member of the sample is chosen entirely by chance. Since each member has equal chances, one advantage of the random sampling method is that it is fair and unbiased. The random sample chosen can properly represent the population it is taken from. One disadvantage of random sampling is that there is no systematic approach in choosing the sample. If the population being studied becomes larger, the fairness of the random sampling method becomes more ...

In this paper, we will discuss and describe the application of statistics and probability theory to a real world problem. The purpose of this essay is to demonstrate various statistical skills and retrieve clear and useful information from the Springdale Shopping Survey data. We are working only with variables from 18 to 25. These variables reflect the importance of eight attributes of the customers’ choice in the chosen shopping area. The following variables participate in our research:

Easy to return or exchange goods

High quality of goods Low prices of goods Good variety of sizes or styles The sales staff is helpful or friendly Convenient ...

Modern business operates in a very competitive environment. As such, every business will need to improve on its operations in order to remain competitive. One of the ways that a business will attempt to retain its competitive advantage is ensuring that the products that are produced meet the highest standards and are produced in the most efficient way. In order to meet this target, the business must have strong production controls that guarantee on quality and efficiency. Naturally, whenever there are controls, there must be a suitable tool that is used to ensure that the process does not have ...