Standard Deviations

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ALTERNATIVE
ASSIGNMENT FOR WEEK 3 The Business Side of Standard Deviation

You are a statistician analyst for a local cable company and you
must present an analysis of the financial data to the executives, including
predicted number of customers in three ranges using Empirical rule, and in two
ranges using Chebyshev rule.

The table below shows a sample of customer
statements for the month of February 2017

AMOUNTS DUE BY
CUSTOMERS OF A CABLE TV LLC IN JANUARY 2017

Generate 30 values using the following procedure

1.
Open EXCEL

2.
Open Data

3.
Click on Data Analysis

4.
Choose Random Number
generator

5.
Enter 1 in Number of
Variables

6.
Enter 30 in the Number
of random numbers field

7.
Choose Normal; in the
Distribution field

8.
Choose New worksheet

Calculate the mean and the standard deviation of the data in the table

Discuss what the mean and the standard deviation means.

Analyze data using the empirical rule and the Chebyshev rule,

Create a 10-slide (first slide: Title of the presentation and introduction
of participants, last slide: Executive summary of the findings.) Microsoft®
PowerPoint® presentation including detailed speaker notes in which you include
the following:

  • Graphs of data.

  • Explain the role of the mean and the standard deviation
    in the analysis.

  • Present detailed findings of the problem

  • Explain any other uses for standard deviation in a
    business setting.

Click the Assignment Files tab to submit your assignment.

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