Business Statistics and Learning Outcomes

1367 WordsFeb 1, 20185 Pages
Business Statistics and Learning Outcomes The largest problem with the survey conducted by the Business Continuity Institute (Business, n.d.) is the low rate of response for the survey itself. Only 13% of the people who were sent the survey sent it back to the requester. Immediately, that makes the statistics provided in the report suspect. If only 13% of a group provides information on their experiences, is that a large enough sample to draw from? Some might say yes, but others would argue that it is highly important to get a larger return on a survey. This would be necessarily in order to be sure that the information provided from the statistical analysis of the survey responses was accurate for the group the statistics intended to represent. The statistics in this particular survey involved business continuity and the management of the supply chain. Both of those issues are highly important, because they show businesses during some of their most vulnerable and problematic times (Alexander & Sheedy, 2005; Borodzicz, 2005). After the issues with September 11, 2001, many companies struggled with their continuity plans. They had trouble getting what they needed, too, which caused them to have supply chain issues that they would not have had if there had not been a disaster. The main thing this showed was that individuals and businesses do not have proper plans in place for a disaster (Alexander & Sheedy, 2005). In other words, when something goes wrong with a supply

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