September 2018
Intermediate to advanced
392 pages
10h 16m
English
Example
A British car insurance company routinely measures the satisfaction of its clients. In the last annual quarter, the level of customer satisfaction dropped from 7.5 to 7.0 on a 10-point scale. Because customer satisfaction has been shown to be a good predictor for the number of sales (R 2 = 0.62), the sales director feels that action should be taken. The HR director, however, points out that the customer satisfaction metric is based only on a sample of the company’s total number of clients, so he asks the company’s data analyst to calculate a confidence interval. This 95% CI turns out to be between 6.2 and 7.8, meaning that there is ...
Read now
Unlock full access