bus_308_final_paper

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bus_308_final_paper

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Running Head: What Ive learned about StatisticsDebra JohnsonWhat Ive learned about StatisticsBUS 308 Statistics for ManagersInstructor: Travis HayesOctober 19, 2017What Ive learned about StatisticsPage 2IntroductionThe process of data analysis is that of turning data into significant information. Whilethere are no hard and fast distinctions for analyzing statistical data, ensuring that you have amethodical approach is vital to an accurate analysis. Transforming data into statisticalinformation and then communicating it accurately is a crucial dynamic of effective decisionmaking. Once a policy has been implemented, it is necessary to monitor and evaluate theeffectiveness of that policy. As Othman (2005) states, Good statistics, therefore, represent a keyrole in good policy making. The impact of policy can be measured with good statistics.I.Descriptive StatisticsIn the single factor tests and analysis we have a limitation to choose only one factor forcomparison which often fails. In reality, more than one factor may influence the outcome andcomparison of phenomena by including all those factors in a model giving an accurate degree ofcomparison. Multiple regression is one such technique in which we can include controlvariables, and as many as possible. We can test the impact of their inclusion, and there is achance of eliminating the non-significant variables to fit the accurate model. (Hoffmann, 1981).A. Measures of Central Tendency.

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