QMB 3250 Statistics for Business Decisions MODULE 1-22 (actual questions and explained answers +key terms) University of Florida
Module 1 • • • • • • • • •
Classify variables as either categorical or quantitative. Determine if data is cross-sectional or time series. Make, interpret, and describe histograms. Compute and describe measures of center. Be able to determine which measures are more appropriate. Compute and describe measures of spread. Be able to determine which measures are more appropriate. Compute z-scores and use them to compare observations. Make, interpret, and describe boxplots. Be able to compare distributions using boxplots and histograms. Brief Review of the Normal Distribution
Statistics is the field of making decisions based on data. Business Analytics is using statistical methods to inform business practices
Have prices of houses in Gainesville changed due to COVID? Question: Each semester each student in the class collects data on one house for sale for a specified city in Florida. We will examine data from August 2019 and August 2020 to determine if house prices have increased due to COVID.
Data: • •
The data was collected by students in QMB 3250 and 5304 during the Fall terms. The data was gathered from Realtor.com.