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Microsoft® Excel® 2010: Data Analysis and Business Modeling by Wayne L. Winston

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Chapter 73. Using Resampling to Analyze Data

Question answered in this chapter:

  • I produced nine batches of a product by using a high temperature and seven batches by using a low temperature. What is the probability that the product yield is better at the high temperature?

Data analysts often need to address questions such as these:

  • What is the probability that a new teaching technique improves student learning?

  • What is the probability that aspirin reduces the incidence of heart attacks?

  • What is the probability that Machine 1 is the most productive of our three machines?

You can use a simple yet powerful technique known as resampling to make inferences from data. To make statistical inferences by using resampling, you regenerate data many times by sampling ...

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