logo image

Business Stat Essay

Statistics In marketing, quality control and Insurance Statistics Is the most widely used quantitative method In business. It Is concerned with extracting the best possible information from data In order to aid decision making. It Is often applied to sales forecasting, quality control and market research. Data used in business include population censuses, opinion polls, consumer data bases, and sales and demand data.

The role of the Statistician is to determine, for a given question, the type of data that is needed, the way it should be collected and how it should be analyzed in order to best answer that question. Statistics has been described as “the science of learning from data”. This includes everything from planning for the collection of data and subsequent data management to end-of-the- line activities such as drawing inferences from data and presentation of results. Important skills

Statisticians working In business should have the following skills: * to be able to express a generally posed question as a statistical question; * to be familiar with a variety of commonly used techniques and the models underlying them; * to be familiar with the mathematical underpinning of often-used statistical techniques to the extent of being able to make simple

Need essay sample on "Business Stat"? We will write a custom essay sample specifically for you for only $ 13.90/page

modifications in appropriate situations; * to be able to use statistical packages to perform relevant calculations; * to be quipped with a variety of graphical techniques for displaying data; * to understand the scope and limitations of statistical inference and its proper role in the process of investigation; * to be able to decide how to obtain a suitable sample of data; * to be able to think clearly and coherently; * to be able to work productively as an individual or in cooperation with others; * to be able to complete assigned tasks on schedule; * to be able to produce clear and accurate written work.

Can’t wait to take that assignment burden offyour shoulders?

Let us know what it is and we will show you how it can be done!
Sorry, but copying text is forbidden on this website. If you need this or any other sample, please register

Already on Businessays? Login here

No, thanks. I prefer suffering on my own
Sorry, but copying text is forbidden on this website. If you need this or any other sample register now and get a free access to all papers, carefully proofread and edited by our experts.
Sign in / Sign up
No, thanks. I prefer suffering on my own
Not quite the topic you need?
We would be happy to write it
Join and witness the magic
Service Open At All Times
Complete Buyer Protection
Plagiarism-Free Writing

Emily from Businessays

Hi there, would you like to get such a paper? How about receiving a customized one? Check it out https://goo.gl/chNgQy

We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy