Statistics In Business Quantitative Analysis for Business September 22‚ 2013 Dr. John Kwagyan Introduction Statistics is a tool used in businesses for planning and measuring the various activities a business is engaged in. Descriptive and inferential statistics are two different types of statistics used in a business. Statistics is the most widely used quantitative method in business. Statistics describes a set of data and then it draws a conclusion from the data
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Statistics in Business Quantitative Analysis for Business University of Phoenix Tanya Bailey April 22‚ 2013 Statistics can sometimes be difficult for some individuals. Understanding the concept of statistics‚ which is known as the science of data‚ may help a person in the business world. This involves classifying‚ summarizing‚ analyzing‚ collecting‚ and interpreting numerical information. The information gathered from statistics can help startup companies‚ and even
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Total points are 30. Points are included with each problem. Included with each section or problem are reference examples and end of section exercises that can be used as a guide. Be sure to show your work so that partial credit may be awarded. To receive full credit‚ work must be shown if applicable. Section 3.1: Basic Concepts of Probability and Counting 1. Lock combinations are made using 3 digits followed by 2 letters. How many different lock combinations can be made if repetition of
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Name Course HLT362v Date Section Exercise 23 PEARSON’S PRODUCT MOMENT CORRELATION COEFFICIENT 1. What is the r value for the relationship between Hamstring strength index 60°/s and the Shuttle run test? Is this r value significant? Provide a rationale for your answer. 2. Consider r = 1.00 and r = –1.00. Which r value is stronger? Provide a rationale for your answer. 3. Describe the direction of the relationship between the Hamstring strength index 60°/s and the Shuttle run test. 4
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TRENDS * Ice cream was amongst the fastest-growing product categories in packaged foods in 2012. As a result‚ several regional players started expanding in 2012. Mother Dairy Fruit and Vegetable‚ which until now ruled Delhi’s market‚ was planning to enter the markets in Mumbai‚ Bangalore and Chennai in 2012. Vadilal Industries – a leading player in Gujarat and Rajasthan – was expanding its operations in the northern part of the country. Hatsun Agro – a leading player in South India – was also
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Statistics is the study of the collection‚ organization‚ analysis‚ interpretation‚ and presentation of data. It deals with all aspects of this‚ including the planning of data collection in terms of the design of surveys and experiments. The word statistics‚ when referring to the scientific discipline‚ is singular‚ as in "Statistics is an art. "This should not be confused with the word statistic‚ referring to a quantity (such as mean or median) calculated from a set of data‚ whose plural is statistics ("this
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Define Statistics Statistics is the practice of gathering‚ sorting‚ and categorizing numerical information in an organized format that can be used to acquire results to specific problems. According to McClave‚ Benson‚ and Sincich (2011)‚ “Statistics is the science of data. It involves collecting‚ classifying‚ summarizing‚ organizing‚ analyzing‚ and interpreting numerical information” (p. 3). Different Types and Levels of Statistics There are two types of statistics. One is descriptive which defines
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Statistics in Business Statistics is a mathematical science pertaining to the collection‚ analysis‚ interpretation or explanation‚ and presentation of data. It also provides tools for prediction and forecasting based on data. It is applicable to a wide variety of academic disciplines‚ from the natural and social sciences to the humanities‚ government and business ("Statanalysis Consulting"‚ 2013). Statistics is used in decision making that affects our everyday lives. The study of statistics
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Introduction Learning goals ❖ What is meant by Statistics ❖ What is meant by Descriptive Statistics and Inferential Statistics ❖ Difference between Parameter & Statistic ❖ Types of Statistical Inferences What is meant by Statistics ? Statistics is the science of collecting‚ organizing‚ presenting‚ analyzing‚ and interpreting numerical data to assist in making more effective decisions. Types of Statistics Descriptive Statistics : • Methods of organizing‚ summarizing‚ and presenting
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are two main branches of statistics that include descriptive statistics and inferential statistics.Descriptive statistics gives numerical measures that describes the features of a given set of data. Inferential statistics on the other hand takes a sample of a given population‚ analyses the sample‚ and from it draw conclusions about the population .Malcolm.O.Asadoorian and Demetrius Kantarelis in their book: Essentials of inferential statistics argue that descriptive statistics organize ‚ summarize and
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