Business statistics

Business administration

Company Business Conglomerate
Business organization Joint-stock company Limited liability company State-owned enterprise Privately held company
Business entity Cooperative Sole proprietorship Partnership Corporation
Corporate governance Annual general meeting Board of directors Supervisory board Advisory board
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Economy Commodity Public economics Labour economics Development economics International economics Mixed economy Planned economy Econometrics Environmental economics Open economy Market economy Knowledge economy Microeconomics Macroeconomics Economic development Economic statistics
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Types of management Asset Brand Business intelligence Capacity Change innovation Commercial marketing Communications Configuration Conflict Content Customer relationship Distributed Earned value Electronic business Enterprise resource planning management information system Financial Human resource development Incident Integrated Knowledge Materials Network Office Operations Performance Power Problem Process Product life-cycle Product Project Quality Records Resource Risk crisis Sales Security Service Strategic Supply chain Systems administrator Talent Technology

Business statistics is the science of good decision making in the face of uncertainty and is used in many disciplines such as financial analysis, econometrics, auditing, production and operations including services improvement, and marketing research.^[1]

These sources feature regular repetitive publication of series of data. This makes the topic of time series especially important for business statistics. It is also a branch of applied statistics working mostly on data collected as a by-product of doing business or by government agencies. It provides knowledge and skills to interpret and use statistical techniques in a variety of business applications.

A typical business statistics course is intended for business majors, and covers statistical study, descriptive statistics (collection, description, analysis, and summary of data), probability, and the binomial and normal distributions, test of hypotheses and confidence intervals, linear regression, and correlation.^[2]

Notes

↑ • Journal of Business & Economic Statistics, Aims and Scope.
• "Journal of Business & Economic Statistics, American Statistical Association."
↑ • E. Pekoz, The Manager's Guide to Statistics, www.probabilitybookstore.com, 2012.

References

Morien, D. (2007) Business Statistics, Thomson Learning Nelson. ISBN 978-0-17-013147-6
Wegner, T. (2010). Applied Business Statistics: Methods and Excel-Based Applications, Juta Academic. ISBN 0702172863

Darlene Basilio

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Business statistics

See also

Notes

References