Question

Develop an APA formatted paper that defines and presents an analysis of the following concepts in a business application. This means that you must provide examples of how each of these concepts can be used by upper-level management to make strategic decisions, and provide details on how statistical concepts used in the decision-making process can be summarized and presented to a board of directors (for example):

• Types of statistics used for business
• How Computer Software Applications can be used to process and analyze data
• How data can be displayed and explored in an effort to make better strategic business decisions
• How Probability is used in sales, marketing, manufacturing, etc.
• How to test hypotheses and compare results for the purpose of forecasting and making better strategic business decisions.

Answer 1

Answer :

measurements is characterized as a strategy for gathering investigating and removing valuable data from an informational collection

distinctive sorts of insights

1) DESCRIPTIVE STATISTICS

2) INFERENTIAL STATISTICS

Illustrative insights alludes to outline of vital highlights of the information. it incorporates the information in types of visits or tables for understanding information

inferential measurements alludes to used to make inference on a little gatherings of which speaks to the bigger information

the little gathering is called test

the huge gathering is called populace

for instance in decision surveys the votes cost by every one of the votes since o populace

to break down the surveys when we just take 1000 or 2000 individuals and after that see the outcomes we are taking an example of 1000 or 2000 to entomb about populace

variable ;

variable can be two sorts

1) QUANTITATIVE

2) QUALITATIVE

under the quantitative variable are those variable can take a number is esteem

eg ;

no.of understudies no.of desserts no.of runs scored are on the whole having number astute qualities like 1,2,3... and so on

subjective variable are those the hand must be depicted classifications and are nin number shrewd

eg ;

calling of individuals sorts of business, sexual orientation and so forth..

portray variable are which can take countable numbers model like no.of youngsters in the family no.of ventures in a region and so forth...

conteneous variable are uncountable and they must be estimated. they take any an incentive inside a populace interim

middle first we orchestrate the information in rising or slipping request and afterward we those pick the center an incentive in the information is rising request from 1 to 5

the center esteem is 3 as there are 2 numbers to the directly of 3

go ; it is the diverse between the base and greatest incentive in the informational index for ( 3,5,8,6,7,4 ) the range = 7-3=4

difference ; it gauges how for the information brings up spread out from the normal the mean squared esteem - square of mean

in quality control branches of major can creating and there assembling organizations the above ideas are utilized by producting figures out how to take choices

advertising devisions we utilize the above ideas to for cast the deals for the following year