# BIS 155 WEEK 7 ILAB

## BIS 155 WEEK 7 ILAB

BIS 155 WEEK 7 ILAB
http://wiseamerican.us/product/bis-155-week-7-ilab/
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Week 7 iLab BIS 155
Scenario/Summary
Hopefully you will find this week’s iLab activity fun and useful. We’ll be exploring the world of statistics from a business perspective this week, allowing you to practice your skills with descriptive statistics, formatting, graphs, and regression analysis.
As discussed in the lesson, the value of statistics lies in the ability to analyze data more effectively for the purpose of improving decision making. You might have heard the expression that “statistics never lie, and only liars use statistics”. There is an obvious truth in this statement, in that, depending on the questions being asked and the data collected, the statistics can skew reality.
For example, it is true that as ice cream sales increase, accidents at swimming pools increase. Does this mean that the more ice cream that is sold, the more accidents it causes (correlation/causation)? Of course not, but the data, if not interpreted correctly, could lead to false conclusions. It just so happens that both are correlated to a rise in temperature in the summertime. The hotter it is outside, the more kids flock to swimming pools, leading to more accidents, and the more ice cream is sold. So you see, although statistics are vital in the world of decision making, you have to be wise, and ask the right questions.
Software Citation Requirements
This course uses open-source software, which must be cited when used for any student work. Citation requirements are on the Open Source Applications page.