This archive file of QRB 501 Week 3 Discussion Questions and Summary Version 2 shows the solutions to the following problems:
DQ 1: Why are graphs and charts used to represent information? What distinguishes a histogram from a bar chart? What are some examples of grouped and ungrouped data? What would be the most appropriate graphical representation to show the dispersion of new home prices in a particular area? Why?
DQ 2: What is the purpose of using correlation analysis? How might correlation analysis be used in business decisions or in strategy formulation and implementation? How might correlation analysis be misused to explain a cause-and-effect relationship?
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