Business Statistics

Task For this assignment, your group will utilize the preliminary data collected in the Topic 2 assignment. Considering the specific requirements of your scenario, complete the following steps using Excel. The accuracy of formulas and calculations will be assessed. 1.Select the appropriate discrete probability distribution. If using a binomial distribution, use the constant probability from the collected data and assume a fixed number of events of 20. If using a Poisson distribution, use the applicable mean from the collected data. 2.Identify the following: the probability of 0 events occurring, the probability of <5 events occurring, and the probability of =10 events occurring. 3.Using the mean and standard deviation for the continuous data, identify the applicable values of X for the following: Identify the value of X of 20% of the data, identify the value of X for the top 10% of the data, and 95% of the data lies between two values of X. The home games are always less than total average attendance than road games. A reason for this is, that although group ticket sales or walk in ticket sales are sold, many ticket holders are not attending the arena to watch their Detroit Pistons play. Instead, these ticket holders go into a nearby restaurant, bar, or even each other’s houses to watch the games from the restaurant, rather home or away. One says, he has more fun watching from television from the restaurant hearing the loud cheers and the loud noise of people conversing than dealing with the crowd of strangers  In fact, there was a 52 % increase in sales of tickets since Detroit Pistons moved to their new Little Caesar’s Arena, on September 5, 2017. Although there were empty sits at the Little Caesar’s Arena in 2018, revenue picked up for the Detroit Pistons, and according to the Forbes’ report Detroit Pistons is worth $1.1 Billion; however, Detroit Pistons value slips to 25th out of 30 teams (Crain’s Detroit Business. March, 2019)   Read less