Foundations of Business Stats

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Answer should be 300 words APA format , use references and citations.


  • How do my personal/ professional experiences relate to this week’s readings and activities?
  • What was my greatest take-away from this week?
  • What did I find most/ least beneficial this week?
  • What would I change about this week and why?


Chapter 3 of Lind, Marchal, and Wathen (Lind) and focus on the following key concepts and learning objectives:

Compute and interpret the mean, the median, and the mode.

Compute a weighted mean.

Compute and interpret the geometric mean.

Compute and interpret the range, variance, and standard deviation.

Explain and apply Chebyshev’s theorem and the Empirical Rule.

Compute the mean and standard deviation of grouped data.

Use Microsoft Excel help function to learn how to:

Use the following built-in functions: COUNT, MAX, MIN, AVERAGE, MEDIAN, MODE, STDEV, VAR, PERCENTILE, SKEW, KURT.

Use Descriptive Statistics tool in the Data Analysis add-in

  • Use Chart tool to construct pie and bar charts
  • Use the Histogram tool in the Data Analysis add-in
  • Interpret pie, bar charts, and histograms.

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