Название: Business Statistics For Dummies, 2nd Edition
Автор: Alan Anderson
Издательство: For Dummies
Год: 2024
Страниц: 403
Язык: английский
Формат: pdf (true)
Размер: 15.7 MB

Make some headway in the notoriously tough subject of business statistics.

Business Statistics For Dummies helps you understand the core concepts and principles of business statistics, and how they relate to the business world. This book tracks to a typical introductory course offered at the undergraduate, so you know you'll find all the content you need to pass your class and get your degree. You'll get an introduction to statistical problems and processes common to the world of global business and economics. Written in clear and simple language, Business Statistics For Dummies gives you an introduction to probability, sampling techniques and distributions, and drawing conclusions from data. You'll also discover how to use charts and graphs to visualize the most important properties of a data set.

Have you always been scared to death of statistics? You and just about everyone else! The equations are extremely intimidating, and the terminology sounds so . . . boring.

Why, then, is statistics so important? All business disciplines can be analyzed with statistical principles. Statistics make it possible to analyze real-world problems with actual data so that we can understand if our marketing strategy is really working, or how much a company should charge for its products, or any of a million other practical business questions.

Without a formal framework for analyzing these types of situations, it would be impossible to have any confidence in our results. This is where the science of statistics comes in. Far from being an overbearing collection of equations, it is a logical framework for analyzing practical business problems with real-world data.

This book is designed to show you how to apply statistics to practical situations in a step-by-step manner so that by the time you’re done, you’ll know as much about statistics as people with far more education in this area!

This book can’t make you an expert in statistics, but it provides you with a way of improving your knowledge very quickly so that you can use statistics in practical settings right away.

Statistical analysis is widely used in all business disciplines. For example, marketing researchers analyze consumer spending patterns to properly plan new advertising campaigns. Organizations use management consulting to determine how efficiently resources are being used. Manufacturers use quality control methods to ensure the consistency of the products they are producing. These types of business applications and many others are heavily based on statistical analysis.

Financial institutions use statistics for a wide variety of applications. For example, a pension fund may use statistics to identify the types of securities that it should hold in its investment portfolio. A hedge fund may use statistics to identify profitable trading opportunities. An investment bank may forecast the future state of the economy to determine which new assets it should hold in its own portfolio.

Whereas statistics is a quantitative discipline, the ultimate objective of statistical analysis is to explain real-world events. This means that in addition to the rigorous application of statistical methods, there is always a great deal of room for judgment. As a result, you can think of statistical analysis as both a science and an art; the art comes from choosing the appropriate statistical technique for a given situation and correctly interpreting the results.

• Grasp the core concepts, principles, and methods of business statistics
• Learn tricky concepts with simplified explanations and illustrative graphs
• See how statistics applies in the real world, thanks to concrete examples
• Read charts and graphs for a better understanding of how businesses operate

Business Statistics For Dummies is a lifesaver for students studying business at the college level. This guide is also useful for business professionals looking for a desk reference on this complicated topic.