What is statistics? How do you think that the knowledge of statistics is essential in management decisions. Give examples.
What is statistics? How do you think that the knowledge of statistics is essential in management decisions. Give examples.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.3: Measures Of Spread
Problem 4CYU
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What is statistics? How do you think that the knowledge of statistics is essential in management decisions. Give examples.
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Statistics is a form of mathematical analysis that uses quantified models, representations and synopses for a given set of experimental data or real-life studies.
Statistical knowledge helps you use the proper methods to collect the data, employ the correct analyses, and effectively present the results. Statistics is a crucial process behind how we make discoveries in science, make decisions based on data, and make predictions.
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