Discuss the below:
Q1) Which measure of family wealth is most important, when making political decisions: the national mean, median, or mode? (example is deciding which topics to emphasize when running an election campaign. Which measure of family wealth is the best measure of the country's overall wealth--mean, median, or mode?
Q2) Which of the following most closely approximates a normal distribution, in the United States: age at time of death, or annual income? Explain
Q3) Why is sampling important to business? Are there situations in business where sampling would not be effective? Statisticians are always talking about "random" samples. What are important about random samples?
Q4)Give an example of a problem (business, political, scientific) in which ANOVA analysis would be appropriate. The dependent variable is categorical, such as male vs. female, or comparing three different types of fertilizer.