Author Question: What is business statistics?[br][br][b][color=black]Question 2[/color][/b][br][br]As a business ... (Read 76 times)

@Brianna17

  • Hero Member
  • *****
  • Posts: 550
What is business statistics?

Question 2

As a business person, in what ways may you find yourself involved with statistics?



Ahernandez18

  • Sr. Member
  • ****
  • Posts: 361
Answer to Question 1

Business statistics can be described as the collection, summarization, analysis, and reporting of numerical findings relevant to a business decision or situation.

Answer to Question 2

You may find yourself involved with statistics in at least one of the following ways: (a) as a practitioner collecting, analyzing, and presenting findings based on statistical data, or (b) as a consumer of statistical claims and findings offered by others, some of whom may be either incompetent or unethical.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

On average, someone in the United States has a stroke about every 40 seconds. This is about 795,000 people per year.

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

For a complete list of videos, visit our video library