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Microsoft® Office Excel® 2007: Data Analysis and Business Modeling, Second Edition by Wayne L. Winston

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Chapter 64. Using Resampling to Analyze Data

  • I’ve 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?

In our work and personal lives, we often use data to answer 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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