Confidence Interval and Its Application In Business

Confidence Interval and Its Application In Business

  • Use the Internet to research articles on confidence interval and its application in business. Select one company or organization that used confidence interval technique to measure its performance parameters (mean, variance, mean differences between two processes, et cetera).
    • Give your opinion as to whether use of such a technique would improve business processes for your chosen company or organization. Justify your response.

 

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  • Identify one project from your working or educational environment for which you would use the confidence interval technique for the process.
    • Speculate on one or two challenges of using such a technique in the process and suggest your strategy to mitigate these challenges.

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