Description
Purpose of Assignment
The purpose of this assignment is to have students demonstrate mastery of the foundational concepts that set the stage for the remainder of the course. Students apply those concepts to business research questions or problem situations to focus their thinking on statistical literacy for use in business decision-making.
Assignment Steps
Resources: Week 1 Readings; Statistics Lab
Tutorial help on Excel® and Word functions can be found on the Microsoft® Office® website. There are also additional tutorials via the web that offer support for office products.
Develop a 1,050-word response addressing each of the following prompts:
- Define statistics with citation and reference.
- Contrast quantitative data and qualitative data. Use two peer reviewed references.
- Evaluate tables and charts used to represent quantitative and qualitative data.
- Describe the levels of data measurement.
- Describe the role of statistics in business decision-making.
- Provide at least two business research questions, or problem situations, in which statistics was used or could be used.
Use two peer reviewed references.
Format your assignment consistent with APA guidelines.
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Explanation & Answer

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1
Business Research
Business Research
Institutional Affiliation
Date
18th July 2107
Business Research
2
Statistics can be defined as a form of mathematical analysis used to characterize a data
set. It uses representations, quantified models, and synopses for both experimental data and reallife studies. Statistical analysis is done through data gathering, data evaluation and classification
of the data into a mathematical form. Measures used for statistics include mean skewness,
kurtosis, variance and regression analysis. Large volumes of data can be studied through
statistics and some of the fields it is used in include psychology, business, physical and social
sciences and humanities. Statistic data is analyzed using two processes which are descriptive
statistics and inferential statistics. Descriptive statistics summarize data from a sample by use of
mean and standard deviation while inferential statistics are used is presented as a subclass of a
specific population (Bickel, 2012).
In research, there are two types of data that can be collected, qualitative and quantitative
data. These data types may be appropriate to use for different settings and evaluation. Qualitative
data is explained as insight while quantitative data is thought of as validation which is a more
scientific approach. While qualitative data seek to answer the questions related t...
