Population statistics is the data set involved in a lot of the statistical data analysis problems.
It is important to be at ease with population statistics. In other words to tackle statistics problems with population statistics, one has to be comfortable in reading, understanding and interpreting population statistics.
A typical problem with population statistics taken from the text book 'Statistics for Managers Using Microsoft Excel', by Levine, Stephan, Krehbiel and Brenson, Fourth Edition is mentioned below:
A study reported in the Journal of Business Strategies compared music compact disk prices for internet-based retailers and traditional brick-and-mortar retailers (Lee Zoonky and Sanjay Gosain, “A Longitudinal Price Comparison for Music CDs in electronic and Brick-and-Mortar Markets: Pricing Strategies in Emergent Electronic Commerce”, Spring 2002, 19(1):55-72). Before collecting the data, the researchers carefully defined several research hypotheses including:
- Price dispersion on the internet will be lower than the price dispersion in the brick-and-mortar market.
- Prices in electronic markets will be lower than prices in physical markets
- Consider research hypothesis 1. Write null and alternative hypothesis in terms of population parameters. Carefully define population parameters used.
Graduate Tutor’s Statistics homework help group can tutor you similar problems involving population statistics.
Problem with population statistics generally deals with the quantitative nature of population, comparison between two populations etc.
Graduate Tutor's expert tutors consist of MBA, CPAs or CFAs who can provide you population statistics homework help tutoring in addition to other statistics tutoring. Email us for more information.
