Statistics - Forum Post

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200 words each forum post

 

Forum #1 – Statistics

 

Numbers and measurements are the language of business.  Organizations look at results in many ways: expenses, quality levels, efficiencies, time, costs, etc. What measures does your department keep track of? Are they descriptive or inferential data, and what is the difference between these?  (Note: If you do not have a job where measures are available to you, ask someone you know for some examples, or conduct outside research on an interest of yours, or use personal measures.)

 

Forum #2 – Statistics

 

Read the article, "Better Living Through...Statistics?!" and give an example of how you might use increasing information to make actual business decisions. Respond to at least two of your classmates’ posts by Day 7.

http://www.forbes.com/sites/artcarden/2013/08/22/better-living-through-statistics/

 

 

Forum #3 – MicroEcon

 

Let’s assume that you own a fast food restaurant and you are faced with many customers each day eating in the restaurant without any tables. Describe the difference between the short run and long run in the example to bringing about more tables for the customers. How is the restaurant able to differentiate between the short run and long run?

 

Forum #4 - MicroEcon

 

After reading Chapter 8 in the text and viewing the required video for this week, Fixed, variable, and marginal cost, address the following in your initial post:

  • First, describe several different fixed costs and variable costs associated with operating an automobile.
  • Next, assume that you would like to travel from Los Angeles to New York City by either car or plane. Which costs would you take into account in making your decision, fixed costs, variable costs or both? Make sure to explain your analysis in the decision that you have to make.

http://www.khanacademy.org/science/microeconomics/firm-economic-profit/average-costs-tutorial/v/fixed--variable--and-marginal-cost

 

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