Statistical Tools And Methods Of A Cat Corporation Forecasting

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We shall identify statistical tools and methods to collect data and also analyze data to determine the appropriate decision for the identified problem in A-CAT CORP forecasting.
There are many statistical tools that you can use to perform analysis on the A-CAT Corporation. One of the tools to use is Mean; it will help in getting the average sale of voltage regulators per year and be used for comparison purpose. Standard deviation will be used to measure the spread/dispersion of data around the mean. A measure of spread gives us an idea of how well the mean, for example represents the data (Lund Research, 2013). Finally the co-efficient of variation will be used for comparison of variation since it’s more convenient than the others. Another key statistical tool for the analysis of the data is Excel.
The category of data provided in this given case study is under the historical data category. The reason because it contains history tables for reporting or analysis purposes. The relationship between this type of data and the tools is that the table containing sales for the last few years gives the set of numbers required by the statistical tools for comparison purpose. Results are used to identify the sales trend.
The co-efficient of variation is the most important tool since it is more convenient compared to the standard deviation. It is used for comparison of variation. The lower the co-efficient of variation, the smaller the residuals relative to the predicted value

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