Statistics and its use in Business Decision Making
Purpose of Assignment
The purpose of this assignment is to have students demonstrate mastery of the foundational concepts that set the stage for the remainder of the course. Students apply those concepts to business research questions or problem situations to focus their thinking on statistical literacy for use in business decision-making.
Assignment Steps
Resources: Week 1 Readings; Statistics Lab
Tutorial help on Excel® and Word functions can be found on the Microsoft® Office® website. There are also additional tutorials via the web that offer support for office products.
Develop a 1,050-word response addressing each of the following prompts:
- Define statistics with citation and reference.
- Contrast quantitative data and qualitative data. Use two peer reviewed references.
- Evaluate tables and charts used to represent quantitative and qualitative data.
- Describe the levels of data measurement.
- Describe the role of statistics in business decision-making.
- Provide at least two business research questions, or problem situations, in which statistics was used or could be used.
Use two peer reviewed references.
Format your assignment consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment.
Solution Preview
Statistics refers to a discipline concerned with data analysis and decision making based on the data (Sharma, 2012). Specifically, it involves the methods of extracting info from observational data for use in solving real-world problems…
(1158 Words)