Basic statistics

 Answer each question in at least 1-2 paragraphs

1.    In your own words, define an independent event and a dependent event.

2.    Provide an example of each type of event (i.e., using a deck of cards, computer programming, and/or business example). Include two additional examples.

Answer in at least 2- 3 paragraphs.

3.    The mean salary is often used to describe the salaries of employees of a company.  However, the median salary may be a better measure of the salaries in comparison to the mean. Research a career you are interested in and calculate the mean and median salaries using at least ten data points. Include the calculations and the data source(s). Which is the better measure of central tendency? Why? Review and respond to the comments posted by your peers and offer your insight on this topic. Do you agree or disagree with their selection? Why or why not?

4.    The number of vacation days taken by the employees of a company is normally distributed with a mean of 14 days and a standard deviation of 3 days. For the next employee, what is the probability that the number of days of vacation taken is less than 10 days? What is the probability that the number of days of vacation taken is more than 21 days? Discuss the solutions and an explanation.

5.    Regression is a commonly used technique in business applications. What is the purpose of a regression analysis? Provide two examples of situations in business, or your field, when regression is used. Explain each situation in detail. discuss why a regression analysis is useful in applications.