Business Statistics. Theory and Practice

      Аннотация: Recent years have seen an increase of the array of Statistical techniques using computer technologies to summarise and simplify the behaviour of data. Furthermore, another notable feature of Statistical techniques through the power of a computer is that, it is capable of giving graphical description of the data, which is more assimilated and interpreted than a numerical one. The graphical display assists in summarizing a large volume of numerical data, simplify the aspect of the data by appealing to our natural ability to absorb visual images and offer a global view of the information, thereby motivating possible explanation. The level of achievement of Business Organisations depend however on how well it acquaints itself in carrying out its daily operations effectively and it’s timely response to changes that may affect transactions at anytime. These can only be realized if the Organization’s employees develop and possess the skill and competencies regarding data analysis using basic concepts and their applications. This is anchored on the assumption that targeted users have some insights into methods of sampling and probability distribution.

Ключевые слова: Central Limit Theorem, Correlation and Regression Analysis, Descriptive Statistics, Hypotheses testing, Inferential Statistics, Normal distribution, Probability theory, qualitative data, quantitative data