Introduction
Statistics is a field of knowledge that enables an investigator to derive and evaluate conclusions about a population from sample data. In other words, statistics allow us to make generalizations about a large group based on what we find in a smaller group. The field of statistics deals with gathering, selecting, classifying data; interpreting, analysing data, deriving, evaluating the validity and reliability of conclusions based on data. Strictly speaking, the term "parameter" describes a certain aspect of a population, while a "statistic" describes a certain aspect of a sample (a representative part of the population). In common usage, most people use the word "statistic" to refer to research figures and calculations, either from information based on a sample or an entire population. Statistics means different things to different people. To a baseball fan, statistics are information about a pitcher's earned run average or a batter's slugging percentage or home run count. To a plant manager at a distribution company, statistics are daily reports on inventory levels, absenteeism, labour efficiency, and production. To a medical researcher investigating the effects of a new drug, statistics are evidence of the success of research efforts. And to a college student, statistics are the grades made on all the exams and quizzes in a course during the semester. Today, statistics and statistical analysis are used in practically every profession, and for managers in particular, statistics have become a most valuable tool.

The Advantages of Statistics in Business
1. Performance Management
Statistics have many applications in business, such as in a manager's role in performance management. A manager collects data about employee productivity, such as the number of tasks completed or the number of units produced. He must analyse data to find ways in which an employee should improve to achieve maximum productivity. For example, if a manager finds that an...

...Statistics in Business
In general statistics is the collection of large quantities with numerical data to be scientifically analyzed. Statistics is referred to as interpreting and analyzing data. Areas that use modern statistical methods are the medical, biological and social sciences, economics, finance, marketing research, manufacturing and management, government, research institutes and many more. Statistics is important because it turns data into knowledge leading to solving problems and innovation.
Types and the Role of Statistics
There are different types and levels of statistics. Quantitative is how is data being measured. There are four levels of measuring data: nominal, ordinal, interval, and Ratio. These four levels use different statistical techniques. Business cannot run successfully based on instincts. Statistics is a tool that provides managers with more confidence in dealing with vagueness even with the help of data availability, and enables managers to respond faster and smarter on decisions needed to provide a stable leadership to the staff relying on them. Statistics analyze a group of consumers which can lead to reasonable accurate and cost effective picture of the market. It provides a foundation to building a strategy. Statistics help a company create objective goals giving a sense of direction....

...Statistics in Business
Christian A. Coronel
Qnt/351
June 10, 2013
Jeffrey Greene
Statistics in BusinessStatistics is the science of collecting, organizing, analyzing, interpreting, and presenting data. Some experts prefer to call statistics data science, a trilogy of tasks involving data modeling, analysis, and decision making. In contrast, a statistic is a single measure, reported as a number, used to summarize a sample data set. Knowing statistics will make you a better consumer of other people’s data. You should know enough to handle everyday data problems, to feel conﬁdent that others cannot deceive you with spurious arguments, and to know when you’ve reached the limits of your expertise. Statistical knowledge gives your company a competitive advantage against organizations that cannot understand their internal or external market data. And mastery of basic statistics gives you, the individual manager, a competitive advantage as you work your way through the promotion process, or when you move to a new employer.
Nominal Level of Measurement
The nominal level of measurement is the lowest of the four ways to characterize data. Nominal means "in name only" and that should help to remember what this level is all about. Nominal data deals with names, categories, or labels. Data at the nominal level is...

...
Group Assignment
BusinessStatistics
CBEB1109
Tutorial : Tuesday 11.00am – 12.00pm
Instructor : Dr. Sharifah Latifah Binti Syed A Kadir
Group : Group 2
Group Members :
1.
Kao Wei Jian
CEA 130028
2.
Lim Kin Chun
CEA 130041
3.
Amirul Asyraaf bin Azhar
CEA 130002
4.
Nur Hasfaiza bt Mohd Zaid
CEA 130063
5.
Muhammad Hamdin Zarif Bin Mohd Zaidi
CEA 100062
6.
Lim Sin Pei
CEA 130043
7.
Wong Siew Yen
CEA 130097
1. Of 100 individuals who applied for systems analyst positions with a large firm during the past year, 40 had some prior work experience, 30 had a professional certificate and 20 of them had both work experience and a certificate.
a Determine if work experience and certification are independent events.
Let A = Prior Work experience
B = Professional Certificate
A
A’
Total
B
20
30
50
B’
40
10
50
Total
60
40
100
=
= 0.4
P(A) =
= 0.6
, so it is not an independent event.
b What is the probability that a randomly chosen applicant,
i had either work experience or a certificate?
) =
=
= 0.9
ii has neither work experience nor a certificate?
iii has a certificate if he has some previous work experience?
= 0.33
2. Because of economic conditions, a firm reports that 30 percent if its accounts receivable from other business firms are overdue. If an accountant takes a random sample of 10 such accounts, determine the probability that
p=30% @ 0.3
n=10
X~B(10,0.3)
a. none of the account is overdue
By...

...Department of statisticsStatistics for Business, Stat 130
Midterm exam
November 15, 2011
Form B
Name: | I.D. Number: |
Instructions:
* Write your name and student ID.
* You have one hour and thirty minutes to complete the exam.
* You may use a formula sheet and a calculator. No other outside materials are allowed.
* There are seven problems in the exam.
* Total score of points is 20.
Problem 1:(5 points) Multiple-choice questions:
Question 1: If A and B are mutually exclusive events, with P(A) = 0.6 and P(B) =0 .4, then P(A and B) is:
a. 0.50
b. 0.00
c. 0.24
d. 1.00
Question 2: As the sample size, n, increases, what happens to the shape of the sampling distribution of the means?
a. approaches the uniform distribution
b. positively skewed
c. approaches a normal distribution
d. negatively skewed
Question 3: Which of the following statements is correct?
a. A point estimate is an calculated from the population
b. A point estimate is an estimate of the range of a population parameter
c. A point estimate is a single value estimate of the value of a population parameter
d. All of the above
Question 4: Sampling distributions describe the distribution of
a. sample statistics
b. population parameters
c. neither parameters nor statistics
d. both parameters and...

...
BusinessStatistics II: Research Paper
Robert Franjieh
April 19, 2015
Introduction
This research paper will be designed to answer a couple questions regarding statistics about the Buena School District school bus data. The questions I will be discussing and answering will be based on maintenance of the school busses. The question prepared is; is it cheaper or more expensive to run Thompson, Bluebird, or Keiser busses? I will also be addressing another question based on other variables by removing the gas types and making it just one gas type instead of two; does gas type have anything to do with the maintenance of the Thompson, Bluebird and Keiser busses when removed from the regression? In order to answer these questions, both regressions and data sets do not contain the 6 passenger busses, being there are only very few and that they might skew the regression.
To explain a little about maintenance on busses, a routine oil change can run anywhere between $150-$250. Diesel engines can go 6,000 to 10,000 miles between oil changes depending on idling time and driving time. If you buy a used bus, one of the first major components that may fail you is the turbocharger. Expect to pay $1,700-$2,000 for a replacement. A tire for a bus can easily cost anywhere between $400-$600. This does not include the price of installation. If your bus should break down, you will need a heavy-duty...

...
Statistics in Business
By Kevin Edwards
QNT/351
Statistics is the science of learning from data, and of measuring, controlling, and communicating uncertainty; and it thereby provides the navigation essential for controlling the course of scientific and societal advances. Statisticians apply statistical thinking and methods to a wide variety of scientific, social, and business endeavors in such areas as astronomy, biology, education, economics, engineering, genetics, marketing, medicine, psychology, public health, sports, among many. Statisticians provide crucial guidance in determining what information is reliable and which predictions can be trusted. They often help search for clues to the solution of a scientific mystery and sometimes keep investigators from being misled by false impressions.
Some examples that statistics are used are Statistics also provide the reasoning and methods for producing and understanding data. Statisticians are specialists, but statistics demands they be generalists, too. One advantage of working in statistics is that you can combine your interest with almost any other field in science, technology, or business. Another is Studies of the environment require data on the abundance and location of plants and animals, on the spread of pollution from its sources, and on the possible...

...Omkar & Yaying
Wednesday 5-6pm
WEEK 3 BES PASS
Descriptive Statistics Population - a set of all possible observations. Sample - a portion of a population. We often use information concerning a sample to
make an inference (conclusion) about the population.
Parameter - describes a characteristic of the population, eg: the population variance Statistic- describes a characteristic of a sample, eg: the sample variance
Frequency Distribution and Histograms Class - a collection of data which are mutually exclusive Frequency distribution - a grouping of data into classes Relative frequency distribution - calculates the number of data in a class as a percentage
of the total data
Shapes of Distributions and Histograms
A histogram is symmetrical if one half of the histogram is a mirror reflection of the other Non-symmetrical distributions are said to be “skewed”
a) Skewed to the right (Positively skewed) Mode < Median < Mean
b) Skewed to the left (Negatively skewed) Mode > Median > Mean
c) Symmetric Distribution Mode = Median = Mean
Measures of Central Tendency: The Mean, Mode and Median The mean is the average of scores: Population mean: μ = Σ xi/N
Sample mean: x = Σ xi/n
The mode is the value that has the highest frequency The median is the middle value of data ordered from lowest to highest The median and the mode are relatively less sensitive to outliers.
Quartiles and Percentiles,...

...'Company win or lose based on the cultures they create ', the CEO of comUSA, the largest retailer of personal computer ( Mats Alvesson 2002 ). Cultures affect personality, it shakes what we think and what we do. As in a company, culture affect employee's day-to-day activities are organizational culture. So it is necessary for management to take into consideration.
In conclusion, being a manager in a contemporary organization, especially in markets and businesses that have been affects by globalization. "Therefore, Management is now facing the juggle of business more and more challenges.
References:
Bartol, K. M. (2005). Management : a Pacific rim focus . Sydney, N. S. W.: McGraw-Hill
Parkinson, J. (2010). Becoming a successful manager : power tools for making a smooth transition to managing a team. New York: McGraw-Hill.
Robert, L. Katz. (1993) . Skills of an effective administrator. Harvard Business School Press.
Nina Matikainen. (2005). Working in multicultural environment ,58-62
Amos Adeoye idowu .(2009). Challenges of leadership in corporate management and turnaround, 61-65...

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