Comment on the examples of your classmates. How may their examples appear in you
ID: 3207039 • Letter: C
Question
Comment on the examples of your classmates. How may their examples appear in your life?
Classmate post:
Module 01 Discussion - Statistics in Your Field of Study
by Haertl
In business there is always a need for learning who the target market. Statistics in terms of race, gender, and location all matter when coming up with a product or ways of improving a product or even marketing the product. Lets take for example selling smartphones. Lets say the first day they sold 50 smartphones the next day 40, and the last day 60. To look at sales at the end of the day you want a range between 40 to 60 you would also want find the median and the mean. In terms of what day you would want to collect the days sales. In some cases companies go as far as to look at sales per hour were they look at what were the dead time. Then when they can make schedules up they will try to make the change over part during the slow time to allow the employees to settle in there positions. For example lets say the data shows the slow times are 6am, 2 pm, 4pm, 10pm. and you have to have 3 different shifts. To try to spread out the time as even as possible. you would have first shift 6am then second shift at 2 pm then 3rd shift start at 10pm. That way each shift would have about the same 8 hours. My area of study would be business management that means schedules will be one of my main areas of focus plus having knowledge on what is selling and how much a day will be very useful information for adjusting the way the business is ran.
Explanation / Answer
The first example given, of smartphones is aaplicable in my life as well. Instead of smartphone, it might be some other item, but the use of statistic, that is taking the mean of a given data that is distributed over time to identify the central value. This is used while buying and selling things. Also, the same is used for the comparison of different products. I cant recall of using the second example of scheduling. But still I think that is also a situation that many people deal with on a day to day basis.