By Alan Anderson

ISBN-10: 1118784499

ISBN-13: 9781118784495

Rating greater on your company records path? Easy.

Business statistics is a typical direction for company majors and MBA applicants. It examines universal information units and the correct approach to use such details whilst carrying out study and generating informational reviews reminiscent of revenue and loss statements, shopper delight surveys, and peer comparisons.

Business facts For Dummies tracks to a regular company facts path provided on the undergraduate and graduate degrees and gives transparent, functional reasons of industrial statistical rules, concepts, formulation, and calculations, with plenty of examples that exhibits you ways those suggestions follow to the area of world company and economics.

indicates you ways to exploit statistical info to get an educated and independent photo of the market
Serves as a good complement to lecture room learning

If you're learning company on the college point or you're a certified trying to find a table reference in this complex subject, company facts For Dummies has you coated.

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Sample text

You can use the Poisson distribution to measure the probability that a given number of events will occur during a given time frame. Continuous probability distributions Many continuous distributions may be used for business applications; two of the most widely used are: ✓ Uniform ✓ Normal The uniform distribution is useful because it represents variables that are evenly distributed over a given interval. For example, if the length of time until the next defective part arrives on an assembly line is equally likely to be any value between one and ten minutes, then you may use the uniform distribution to compute probabilities for the time until the next defective part arrives.

You can use regression analysis to measure the numerical relationship between the S&P 500 and Apple stock. Simple regression analysis is based on the assumption that a linear relationship occurs between X and Y. A linear relationship takes this form: Y is the dependent variable, X is the independent variable, m is the slope, and b is the intercept. The slope tells you how much Y changes due to a specific change in X; the intercept tells you what the value of Y would be if X had a value of zero.

The bell-shaped curve is shown in Figure 1-5. Chapter 1: The Art and Science of Business Statistics Figure 1-5: The bellshaped curve of the normal distribution. Illustration by Wiley, Composition Services Graphics The normal distribution has many convenient statistical properties that make it a popular choice for statistical modeling. One of these properties is known as symmetry, the idea that the probabilities of values below the mean are matched by the probabilities of values that are equally far above the mean.