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In the context of sales strategy data, what statistics are typically calculated to assess the effectiveness of treatments and identify errors?

a) Mean and median
b) Range and variance
c) Sum of squares for treatments and sum of squares for error
d) Standard deviation and correlation coefficient

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Final answer:

To evaluate sales strategy data, sum of squares for treatments and sum of squares for error are used for variability, while the standard error of the mean helps understand sample representation. The standard deviation measures data spread and outliers can be identified through statistical criteria.

Step-by-step explanation:

In the context of sales strategy data, statistics typically calculated to assess the effectiveness of treatments and identify errors include the sum of squares for treatments and the sum of squares for error. These statistical measures help determine the variability due to the treatment (or independent variable) and the variability due to random error.

The standard error of the mean is a statistic that indicates the standard deviation of the sampling distribution of the mean. Comparing the sample mean and sample standard deviation to the theoretical values can show how well the sample represents the population. If a value such as the average decrease in tumor size is calculated, it constitutes descriptive statistics if it just describes the sample, or inferential statistics if used to make predictions or inferences about a larger population.

The measurement of the spread of data is critically important in understanding the distribution, which is commonly measured by the standard deviation. The standard deviation provides a measure of the overall variation in a data set and can be used to identify if any value is unusually far from the mean. When analyzing data, outliers identified using the interquartile range or standard deviation criteria need to be evaluated in context; they may be removed or adjusted based on additional considerations.

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