What is Statistics?

•Statistics is the science dealing with the collection, analysis, interpretation, and presentation in numerical data.
•The word Statistics is used in two ways:

1. Statistics can be descriptive measures computed from a sample and used to make determination about a population.

2. Statistics can be the distributions used in the analysis of data.


Example of Statistics

•Suppose we have done a fruit survey on which fruit is favorite.
•According to collected data we have done analysis.
•According to the Pie Chart we can say that Pineapple is the most favorite fruit and Banana is least favorite among them all.


Statistics in Marketing Business

•Statistics can be used a target market.
•Example: Online shopping for electronics
•Lets suppose after we review previous sales data, we found that men do more online shopping of electronics than women. We also find that the age range of male online shoppers is 25 -40.
•According to these data figures we can identify a target market and then define our marketing strategy.   


Statistics in Finance

•A study has been taken to rate Frankfurt, London, and New York for best climate for a financial center using several criteria.
•A 1 to 5 scale was used, 5 denoting very good and 1 denoting very bad.
•For the personal and corporate taxes criterion, Frankfurt received the lowest score 2.44, London and New York received 3.61.
•For living and working environment criterion, Frankfurt  received 2.62, London 3.58, and New York 3.62.


Statistics in Management

•A survey conducted by ABC small business network asked small business owners how they would characterize themselves.
•Approximately 33% described themselves as “Seeing the Big Picture” who focuses on efficiency.
•27% labeled themselves as “Problem Solvers” who concentrate on solving difficult problems.
•16% were “Rainmakers” focusing mainly on developing new business.
•11% were “Artists” more involved in creating new products than running the business.





Última modificación: martes, 14 de agosto de 2018, 08:22