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Statistics is the science of learning from data and measuring, controlling and uncertainty. It is the study of the collection analysis interpretation, presentation and organization of data. Statistics provide managers with more confidence in dealing with uncertainty. Even though there may be plenty of information for managers, statistics will enable managers to make smarter decisions more quickly. When dealing with business statistics will provide a better picture of the market which a particular company may be dealing with. Helping to make judgment on which move a company should take. When a company looks for continuous improvement within the company, that company will be able to rely on statistics to help improve the business. Using statistics can help control waste throughout the company.
Statistics can be used in mostly all aspects of the business market or world. Statistics is a great way to help the grocery business. For example, when more consumers purchase hot coco from Wal-Mart, a round the winter season more consumers purchased hot coco, but in the summer sales went down. So when the winter is in effect it would be smart for Wal-Mart to stock more or less hot coco based on the weather forecast. Statistics is also used in the stock markets analyst use computer data to forecast the health of the economy. Another example of where statistics can be use would be the U.S. census. The census collects data all over the world so that the government can decide how to distribute federal funds to communities.
Statistics is a very important in everyday life, using within company or everyday life statistic will help to determine important matters before a company makes major decisions. This information can be found by using the internet, conducting live or internet or phone surveys. The company must choose the method best suits the company in order to help get the flow of the company in line.
References
Statistics . (2014). Retrieved from
Statistics can be used in mostly all aspects of the business market or world. Statistics is a great way to help the grocery business. For example, when more consumers purchase hot coco from Wal-Mart, a round the winter season more consumers purchased hot coco, but in the summer sales went down. So when the winter is in effect it would be smart for Wal-Mart to stock more or less hot coco based on the weather forecast. Statistics is also used in the stock markets analyst use computer data to forecast the health of the economy. Another example of where statistics can be use would be the U.S. census. The census collects data all over the world so that the government can decide how to distribute federal funds to communities.
Statistics is a very important in everyday life, using within company or everyday life statistic will help to determine important matters before a company makes major decisions. This information can be found by using the internet, conducting live or internet or phone surveys. The company must choose the method best suits the company in order to help get the flow of the company in line.
References
Statistics . (2014). Retrieved from
References: Statistics . (2014). Retrieved from http://en.wikipedia.org/wiki/Statistics