How Statistics For Managers ( Bam1447b )

1361 Words Dec 22nd, 2014 6 Pages
What I learned in Statistics
Kevin Green
Statistics for Managers (BAM1447B)
Timothy Crawford
What I learned in Statistics
Statistics is a mathematical and scientific process based on the analysis, interpretation, collection, or explanation, and presentation of a data set. It is applied to an enormous variety of academic disciplines, from the natural and social sciences to the humanities, and to government and business. Data analysis is applied when information needs to be converted into the raw data which is more purposeful information. Statistics is mainly all about the data analysis of a set of data. Before actually began working on data analysis in real world and on paper, it is important that the basic knowledge is possessed by everybody involved in this process. The following paper seeks to provide basic knowledge in some specific areas of statistical data analysis.
As the name suggests, descriptive statistics means analysis of data to describe or summarize data in a meaningful manner. The analysis lends a hand in determination of patterns that may exist in the data stream. Descriptive statistics basically describes the data in the analysis but it does not present an analysis beyond the data present. One cannot make any conclusions about any hypothesis using this form of statistics. The data are extremely difficult to understand and comprehend in its raw form when it is presented to the users. Sometimes, size and volume of data can simply make it…
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