Business Finance Homework Help

1.Explain the difference between a population parameter and its point estimate.

2.Explain the difference between a population mean and a sample mean.

3.Define, range, variance, and standard deviation.

4.Discuss how variance and standard deviation measure variation.

5.The Empirical Rule for a normally distributed population and Chebyshev’s Theorem have the same basic purpose. In your own words, explain that purpose.

6.Calculate the range, variance, and standard deviation of this population: 5,8,10,12,15

7.Explain the following in your own words: percentile, the first quartile, the third quartile, and the IQR (interquartile range)