Business Statistics

Business statistics is the science of good decision making in the aspect of uncertainty and is used in many disciplines such as econometrics, financial analysis, production, auditing, and operations including services improvement, and marketing research.


Business Statistics Notes

In statistics, a frequency distribution is a table that shows the frequency of numerous consequences in a sample. Every entry in the table comprises the frequency of the amounts of values within a specific group or interval, and in this technique, the table précises the distribut... read more

business statistics

July 29, 2017

A histogram is a show of statistical info that uses rectangles to show the occurrence of data items in sequential numerical intervals of equal size. In the most corporate form of histogram, the independent variable is plotted along the parallel axis and the dependent variable is plotted along the vert... read more

business statistics

July 27, 2017

What is 'Regression?' Regression is a statistical quantity used in economics, investing and other alterations that tries to define the strength of the association between one dependent variable (usually represented by Y) and a sequence of other altering variables (recognized as independent variables). Regress... read more

business statistics

July 27, 2017

Business statistics is the art of good decision making in the face of ambiguity and is used in many disciplines such as auditing, econometrics, financial analysis,  production and operations including services improvement and research and vice versa. This creates the topic of time series particularly important f... read more

business statistics

July 22, 2017

Descriptive statistics are statistics that quantitatively define or précis structures of a collection of information Descriptive statistics are renowned from inferential statistics or inductive statistics, in that descriptive statistics goal to précis a sample, before use the data t... read more

business statistics

July 22, 2017

Statistical Mean:-   The statistical mean denotes to the mean or average that is used to originate the central tendency of the data in question. It is adding all the data in a population and then dividing the total by the number of points. The resting number is known as the mean or the average. What is... read more

business statistics

July 22, 2017

Data collection is the procedure of collecting and assessing information on variables of interest, in an established systematic fashion that enables one to answer stated research queries, test theories, and assess consequences. The data collection constituent of research is common to all fields of study, mortalities... read more

business statistics

July 22, 2017

Correlation relating the linear relationship between two variables; in regression, we can forecast the relationship between more than two variables and can use it to classify which variables x can forecast the consequence variable y. Correlation is a statistical quantity that designates the e... read more

business statistics

July 22, 2017

The scope of statistics is much extensive.  It can be divided into two parts 1. Statistical Methods:Such as Collection, Classification, Tabulation, Presentation, Analysis, Interpretation and Forecasting. 2. Applied Statistics: It is further divided into three parts: 2.1 Descriptive Applied Statistics: Purpose of this ... read more

business statistics

May 27, 2017

Statistics means numerical presentation of facts.  Its meaning is divided into two forms - in plural form and in singular form.  In plural form, Statistics means a collection of numerical facts or data example price statistics, agricultural statistics, production statistics, etc.  In singular form, the wor... read more

business statistics

May 27, 2017

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