Business Statistics

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How Businesses Use Regression Analysis Statistics

Regression analysis is a statistical tool used for the investigation of relationships between variables. Usually, the investigator seeks to ascertain the causal effect of one variable upon another — the [more…]

Random Variables and Probability Distributions in Business Statistics

Random variables and probability distributions are two of the most important concepts in statistics. A random variableassigns unique numerical values to the outcomes of a [more…]

Explore Hypothesis Testing in Business Statistics

In statistics, hypothesis testing refers to the process of choosing between competing hypotheses about a probability distribution, based on observed data from the distribution. It's a core topic and a [more…]

3 Ways to Describe Populations and Samples in Business Statistics

When you're working with populations and samples (a subset of a population) in business statistics, you can use three common types of measures to describe the data set: central tendency, dispersion, and [more…]

Understand Sampling Distributions in Business Statistics

In statistics, sampling distributions are the probability distributions of any given statistic based on a random sample, and are important because they provide a major simplification on the route to statistical [more…]

Business Statistics For Dummies Cheat Sheet

Statistics make it possible to analyze real-world business problems with actual data so that you can determine if a marketing strategy is really working, how much a company should charge for its products [more…]

Business Statistics: Use Regression Analysis to Determine Validity of Relationships

Regression analysis is one of the most important statistical techniques for business applications. It's a statistical methodology that helps estimate the strength and direction of the relationship between [more…]

Business Statistics: Modeling Asset Returns with Normal Distribution

Market participants — equity analysts, risk managers, portfolio managers, traders, and economists — must be able to accurately measure and model the risk and return of financial assets. As a starting point [more…]

Business Statistics: Assess Financial Risk with the VaR Methodology

In the field of risk management, you can measure the risk of a portfolio with the Value at Risk (VaR) methodology. The standard VaR model (known as the [more…]

Applying Hypothesis Testing in Business Statistics

Hypothesis testing isn't just for population means and standard deviations. You can use this procedure to test many different kinds of propositions. For example, a jury trial can be seen as a hypothesis [more…]

Business Statistics: Is Forecasting Market Prices Truly Achievable?

Depending on your school of thought, forecasting market prices can be either a waste of time or the key to financial success. Either way, knowing about each camp is useful as you learn about business statistics [more…]

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