Business importance of statistics in business
Evans, J. R. (2013). Statistics, data analysis, and decision modeling (5th ed.). Upper Saddle River, NJ: Prentice Hall.
Question 1: Explain the importance of statistics in business.
Question 2: What is the difference between a population and a sample?
Question 3: List the different types of charts available in Excel, and explain characteristics of data sets that make each chart most appropriate to use.
Question 4: What statistical measures are used for describing dispersion in data? How do they differ from one another?
Question 5: Explain the concept of correlation and correlation coefficient. How would you interpret correlation coefficients of:
+ 0.3,
0.0 [zero], and
-0.95