BUS 308 BUS308 WEEK 5 FINAL PAPER WHAT HAVE I LEARNED ABOUT STATISTICS? - ASHFORD

BUS 308 BUS308 WEEK 5 FINAL PAPER WHAT HAVE I LEARNED ABOUT STATISTICS? - ASHFORD

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BUS 308 Week 5 Paper What have I learned about statistics? (Ashford)

Statistics for Managers

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​​Statistics are not just about looking at numbers and facts.  Statistics is the science of learning about data.  “It is concerned with the collection, classification, analysis, and interpretation of numerical facts, for drawing inferences on the basis of their probability” (Business Dictionary, 2018).  Statistical knowledge helps identify the correct methods in data collection, deployment of the right procedures for analysis, and presenting those results in an effective and powerful manner. Statistics play a vital role in determining unemployment rates, population growth, housing, schooling, and the necessary medical facilities.  They are important in business, commerce, psychology, chemistry, and many other fields of study.  Statistics help to make educated decisions, predictions, and discoveries based on the data sets and informationresearched and examined.