Case Study: Statistics For Mangers
Statistics
BUS308: Statistics for Mangers
Instructor:
Learning Statistics Statistical data has become an item that we see all around us in our everyday lives, from television programs talking about selling products or politicians using data to show how they perform in their jobs, in hopes to be reelected. Throughout the course in Statistics for Managers, I have learned many things on how the use of statistical information can help me to understand these items and also to help me to perform my job and understand the day-to-day operation of the company. With the use of statistics, anyone can find out information and details on most anything, allowing them to understand a business better or to make better decisions in their everyday …show more content…
According to the textbook for statistics, “descriptive characteristics can provide a great economy when data sets are large. Inferential statistics are utilized when the sample’s characteristics are important for what they reveal about the entire population”. (Tanner & Youssef-Morgan, 2013) Even though there are many different kinds of descriptive statistics, the ones most used are those that explain a central tendency or a variability within the data. These are the ones that allow us to measure and analyze different information using mean, media, and mode information to draw our conclusions. Inferential statistics is all about “the process of drawing conclusions about population characteristics through analysis of the sample data” (Dell, 2013). This takes the population of the data and generalizes it to its characteristics to help reveal the details about the remaining …show more content…
From this course I have learned how to evaluate the information using the different forms of statistical testing. According to the Journal of Pharmaceutical Negative Results, “performing the statistical tests become easy, but selection of appropriate statistical test is still a problem.” (Jaykaran, 2010) Depending on the data and the questions asked, there may be different ways to perform the test to receive an appropriate answer. Also the questions on differences or associations, the specifics of the data, and the groups involved, will have an impact on which type of testing is the correct one to perform. In doing the research for the paper I found a few websites that have a flow chart to help people understand the appropriate test for their specific
BUS308: Statistics for Mangers
Instructor:
Learning Statistics Statistical data has become an item that we see all around us in our everyday lives, from television programs talking about selling products or politicians using data to show how they perform in their jobs, in hopes to be reelected. Throughout the course in Statistics for Managers, I have learned many things on how the use of statistical information can help me to understand these items and also to help me to perform my job and understand the day-to-day operation of the company. With the use of statistics, anyone can find out information and details on most anything, allowing them to understand a business better or to make better decisions in their everyday …show more content…
According to the textbook for statistics, “descriptive characteristics can provide a great economy when data sets are large. Inferential statistics are utilized when the sample’s characteristics are important for what they reveal about the entire population”. (Tanner & Youssef-Morgan, 2013) Even though there are many different kinds of descriptive statistics, the ones most used are those that explain a central tendency or a variability within the data. These are the ones that allow us to measure and analyze different information using mean, media, and mode information to draw our conclusions. Inferential statistics is all about “the process of drawing conclusions about population characteristics through analysis of the sample data” (Dell, 2013). This takes the population of the data and generalizes it to its characteristics to help reveal the details about the remaining …show more content…
From this course I have learned how to evaluate the information using the different forms of statistical testing. According to the Journal of Pharmaceutical Negative Results, “performing the statistical tests become easy, but selection of appropriate statistical test is still a problem.” (Jaykaran, 2010) Depending on the data and the questions asked, there may be different ways to perform the test to receive an appropriate answer. Also the questions on differences or associations, the specifics of the data, and the groups involved, will have an impact on which type of testing is the correct one to perform. In doing the research for the paper I found a few websites that have a flow chart to help people understand the appropriate test for their specific