Section 1 - Instruction

You've learned how the mean summarizes data and how uncertainty gives us a realistic range of outcomes. Now, let's practice combining these concepts to make smarter business judgments.

Engagement Message

Ready to apply what you know?

Section 2 - Practice

Type

Fill in The Blanks

Markdown With Blanks

Let's review a website's performance.

Daily Visitors: 1,200, 1,350, 1,150, 1,300 Average Visitors: [[blank:1,250]]

An analysis shows a margin of error of 50 visitors. Confidence Interval: We are 95% confident the true average is between [[blank:1,200]] and [[blank:1,300]].

Suggested Answers

  • 1,250
  • 1,200
  • 1,300
  • 1,150
  • 1,350
Section 3 - Practice

Type

Multiple Choice

Practice Question

A retail store's average daily sale is $2,500. One day, a corporate client makes a single $50,000 purchase. How will this one large sale affect the daily average for that period?

A. It will slightly decrease the average. B. It will have no effect on the average. C. It will significantly increase the average. D. It's impossible to tell.

Suggested Answers

  • A
  • B
  • C - Correct
  • D
Section 4 - Practice

Type

Sort Into Boxes

Practice Question

Sort these factors based on whether they INCREASE or DECREASE your confidence in a statistical estimate.

Labels

  • Increases Confidence
  • Decreases Confidence

First Box Items

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