Thesis Statement: Statistics is an important branch of mathematics that helps in the collection of
data, its analysis, interpretation and the organization and the presentation of data.
Qualitative and Quantitative Data
A. Frequency tables
B. Pie charts
Level of Measurement
Role of Statistics in Business Decision-Making
A. Cost minimization
B. Goal setting
A. Waste management
B. Policy demand
Running head: STATISTICS
Statistics is an important branch of mathematics that helps in the collection of data, its
analysis, interpretation and the organization and the presentation of data (Witmer, 2016).
Statistics helps in the analysis of the complicated data and ensures that there is focus on the
diversity of the data in the aspects of planning and conducting of experiments. The importance of
statistics ensures that there is an analysis of the surveys of the representation of data in a way that
there is the addition of value to the data. The focus on the design of the data and the
representation of the samples helps in improving the methods used in summarizing the data and
making sure that there is manipulation in assisting to improve the results as required for the
improvement of the systems (Witmer, 2016). There are different statistical methods, and the
main include the inferential and the descriptive statistics that help in the summary of the data and
focus on the c...