Encyclopaedia Of Business Statistics (eBook)

Business statistics is the science of good decision making in the face of uncertainty and is used in many disciplines such as financial analysis, econometrics, auditing, production and operations including services improvement, and marketing research.These sources feature regular repetitive publication of series of data. This makes the topic of time series especially important for business statistics. It is also a branch of applied statistics working mostly on data collected as a by-product of doing business or by government agencies. It provides knowledge and skills to interpret and use statistical techniques in a variety of business applications. A typical business statistics course is intended for business majors, and covers statistical study, descriptive statistics, probability, and the binomial and normal distributions, test of hypotheses and confidence intervals, linear regression, and correlation. In examining distribution of data, you should be able to detect important characteristics, such as shape, location, variability, and unusual values. From careful observations of patterns in data, you can generate conjectures about relationships among variables. This book Business Statistics is an outcome of long teaching experience of the subject. It includes the fundamental concepts, illustrative examples and application to various business problems. These illustrated examples have been selected carefully on each topic and sufficient number of unsolved questions are provided which aim at sharpening the skill of the students.