Business Statistics Demystified: A Self Teaching Guide by Steven M. Kemp, Sid Kemp, Steven Kemp

By Steven M. Kemp, Sid Kemp, Steven Kemp

Say so long to dry displays, grueling formulation, and summary theories that may placed Einstein to sleep -- now there's a better strategy to grasp the disciplines you actually need to grasp.

McGraw-Hill's Demystified Series teaches advanced matters in a different, easy-to-absorb demeanour, and is ideal for clients with out formal education or limitless time. They're additionally the main time-efficient, apparently written "brush-ups" you will discover.

equipped as self-teaching courses, they arrive entire with key issues, historical past details, questions on the finish of every bankruptcy, or even ultimate checks. You'll be capable of research extra in much less time, assessment your components of power and weak spot and toughen your wisdom and self belief.

This self-teaching consultant brings company statistics all the way down to an comprehensible point, utilizing functional examples. insurance comprises: chance, research of variance, designed experiments, getting ready statistical reviews, easy statistical techniques, and lots more and plenty extra.

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Extra resources for Business Statistics Demystified: A Self Teaching Guide

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The simple answer is CHAPTER 1 Statistics for Business 13 that we need to look at the outcomes of similar decisions made previously in similar circumstances. We cannot know the outcome of our present decision, but we can hope that the outcomes of similar decisions will be similar. The central notion of all statistics is that similar past events can be used to predict future events. First and foremost, this assumption explains why we have defined statistics as the use of numbers to describe general features of the world.

Unit. (Short for unit of measurement. ) For some types of measurement, the particular standard measure used to define the meaning of the number, one. , are all units of measurement. When we say something weighs two and a half pounds, we mean that it weighs two and a half times as much as a standard pound measure. Data. The collection of values resulting from a group of measurements. Usually, each value is labeled by variable and subject, with a timestamp to identify the occasion. Values that aren’t numbers In statistics, measurement doesn’t always result in numbers, at least not numbers in the usual sense.

Some may be lost or have errors. Or a sales receipt from some other day may be marked with yesterday’s date by mistake. KEY POINT The most important thing to understand about populations is the need to specify them clearly and precisely. As we will see later on, every statistical study begins with a question about some population. To make that question clear means being clear about what the population is, who or what is or is not subject of the study, what is the study question about. A good statistical study begins with a clearly specified question.

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