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Homework answers / question archive / You will reflect on the career/industry that you have been writing about in the previous homework assignment which is Data Analyst at Amazon

You will reflect on the career/industry that you have been writing about in the previous homework assignment which is Data Analyst at Amazon

Economics

You will reflect on the career/industry that you have been writing about in the previous homework assignment which is Data Analyst at Amazon.

Answer each of the following in about  150-200 words (for each part). 

1. Explain a data-related scenario or example related to your job/industry where simply  knowing the mean related to a variable of interest is not sufficient for you to make good decisions or conclusions.  Explain fully, since you are speaking to people who are not familiar with your job, firm, and possibly industry. (For example, at my university, we report averages all of the time, like average student SAT score. But that is not a full picture and might not be enough when we make decisions.)

2. In relation to the above, would knowing  variance/standard deviation and  other measures of dispersion add to your understanding? Be clear about what variance/standard deviation might tell you in this scenario and why it might lead to better decision-making or conclusions.  Explain fully, since you are speaking to people who are not familiar with your job, firm, and possibly industry. (Again, when we think about SATs of our LU students, we can learn more when we have more descriptive statistics.) 

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