Scope Of Statistics In Business
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This document discusses the scope and importance of statistics in business. It defines statistics as a form of mathematical analysis that uses quantified models and representations of experimental data or real-life studies. It outlines some main tools of statistics like mean, median, and mode. It also discusses how statistics are systematically arranged and numerically expressed for a predetermined purpose. Finally, it explores the scope and applications of statistics in various areas of business including marketing, sales, production, finance, and others.
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• Kansas: 1 - This is 2.7% of all KS cases.
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- 1. Department of Business Administration (2019-20) SupervisorName:- PROF.JOVITaMATHEW TOPIC: SCOPEOFSTATISTICSINBUSINESS
- 2. What Is Statistics ? Statistics is a form of mathematical analysis that uses quantified models, representations for a given set of experimental data or real-life studies.
- 4. FEATURESOF STATISTICS • Systematically Arranged • Statistics are numerically expressed • Systematically expressed • Statistical Data Collected for a Pre Determined Purpose
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- 8. PRODUCTION Technology selection. Quality control. Time schedules for manufacturing and distribution FINANCE. Analysis of income and expenditure. Financial forecasting. Investment and risk analysis. SCOPE OF STATISTICS
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