Essays on Upper Limit

Final Grade: 72/100

This paper is being submitted on January 18, 2017 for Tramaine Ingram’s STA3215 Inferential Statistics and Analytics course. At the request of the company’s client, we have performed research pertaining to the salary distributions of jobs in the state of Minnesota. The sampling was haphazard (non-statistical. The client is only interested in the jobs that pay salaries of between $40,000 and $120,000. Any job that that falls within this range was included in the analysis. The data set was obtained from the Bureau of Labor Statistics, and consists of a total of 64 records. In ...

Importance of Confidence intervals

The confidence interval is a set or range of values that a population parameter is likely to fall within (Graham, 2008). It is calculated using the sample statistics and a given confidence level. For instance, a confidence interval of the mean calculated using the sample statistics, gives the lowest and highest possible value of the population mean. The population mean is expected to be within the confidence interval. A point estimate is a single value that approximates a population parameter (Graham, 2008). For instance, a sample mean is point estimate of the population mean, while a sample proportion is ...

The end of the 20th century had hinted towards the tremendous amount of technological advancement that had swept the entire century, eventually resulting in the emergence of newer global markets that are unique and different from the conventional industries as the newly emerged markets were driven by technological sophistication, boundless amount of knowledge, and numerous networks. The industries that became the drivers of the newly emerged global markets were related to the production of information goods like for example, content, software, or distinctive professional expertise. A few pertinent examples of such newly emerged industries are all the Internet-based businesses, ...