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Business Statistics For Dummies by Alan Anderson

By Alan Anderson

Rating larger on your company records direction? Easy.

Business information is a typical path for enterprise majors and MBA applicants. It examines universal information units and the right kind solution to use such details whilst accomplishing study and generating informational stories comparable to revenue and loss statements, buyer delight surveys, and peer comparisons.

Business statistics For Dummies tracks to a regular enterprise information path provided on the undergraduate and graduate degrees and gives transparent, functional causes of industrial statistical rules, thoughts, formulation, and calculations, with plenty of examples that exhibits you ways those recommendations practice to the area of worldwide company and economics.

indicates you ways to exploit statistical information to get an educated and independent photograph of the market
Serves as an outstanding complement to lecture room learning
is helping you ranking your optimum on your enterprise data course

If you're learning enterprise on the collage point or you're a qualified searching for a table reference in this complex subject, enterprise data For Dummies has you coated.

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For example, the daily price of Microsoft stock taken from the past ten years is a time series. Time series forecasting involves using past values of a variable to forecast future values. 21 22 Part I: Getting Started with Business Statistics Some forecasting techniques include: ✓ Trend models ✓ Moving average models ✓ Exponential moving average models A trend model is used to estimate the value of a variable as it evolves over time. For example, suppose annual data is used to estimate a trend model that explains the behavior of gasoline prices over time.

Chapter 1: The Art and Science of Business Statistics After estimating the sample regression line, the results are subjected to a series of tests to determine whether the equation is valid. If the equation isn’t valid, you reject the results and try a new model. Multiple regression analysis With multiple regression analysis, you estimate the relationship between a dependent variable (Y) and two or more independent variables (X1, X2, and so on). For example, suppose that Y represents annual salaries (in thousands of dollars) at a corporation.

If two variables are positively related, the trend line has a positive slope; similarly, if two variables are negatively related, the trend line has a negative slope. If two variables are unrelated to each other, the trend line has a zero slope (that is, the trend line will be flat). 917x 37 38 Part I: Getting Started with Business Statistics Even more types of graphs In addition to the graphs covered in this chapter — histograms, line graphs, pie charts, and scatter plots — there are many other types of graphs that you can use to analyze statistical data.

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