74.2 - 1.96 x 30.9 / sqrt 30
= 63.14
72.2 + 1.96 x 30.9 / sqrt 30
= 85.26
answer 63.14 to 85.26
Your question may be a little overly complex. Usually you start with some degree of confidence that the variable(s) you are studying are normally distributed; you don't do an experiment and wait for the results to tell you. Your confidence that a variable is normally distributed helps you to determine whether or not your results are significantly different from what you would expect by chance. If I have missed the meaning of your question, my apologies.
Marketers use statistics to determine how to market their products. With statistics, they can determine who is more likely to purchase their goods.
Statistics are used in the scientific study of agriculture as a tool to determine if the differences in variables are real or due to chance. This translates to the farmer to let him know with confidence which varieties are better than other varieties or which fertilizer treatments will give better yields than others.
What financial statement would you analyze to determine if a company distributed any of its profits to its shareholders?
To determine vital statistics.
Statistics is analyzing numbers. Businesses use statistics so that they can determine the best way to approach various aspects of business.
Yes, statistics are used in financial formulas if they are available. The integrity and accuracy of the statistics determine if they are chosen to be used in the first place.
Sampling distribution are used to: a) Estimate the number of samples or surveys to make to obtain a specified confidence in a particular statistic. b) Determine the confidence interval and the margin of error of a particular statistic. c) Conduct a hypothesis test on a particular statistic. I note that common statistics are mean and variance. However, there are sampling distributions for many statistics, including proportion and coeficient of correlation. Hypothesis testing can be one tail or two tail, and there are different approaches.
Statistics can have a major role when it comes to agriculture. Statistics can be used to determine many things like being able to study what kind of crops people eat most, determine the migrational pattern from animals that eat crops, determine the geographical area where people demand the most and least products, and also to determine the cost of seeds, labor, and cost. Statistics can make work and the outcome of work more beneficial for farmers.
There are a few applications of statistics in technology. It can be used to determine, analyze, research, and predict items like efficiency and performance.
Inferential statistics
Statistics