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.
Big Ideas Math A Bridge To Success Algebra 1: Student Edition 2015
1st Edition
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:HOUGHTON MIFFLIN HARCOURT
Chapter11: Data Analysis And Displays
Section11.5: Choosing A Data Display
Problem 10E
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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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