Business Statistics

Paper Summary:

Business statistics can be considered a branch of science that enables one to make the right decisions. This paper shows that business statistics have uses in many areas, including financial analysis, econometrics, auditing, production, and operations, such as the improvement of services and marketing research.

From the Paper:

"Acquiring skills in Business Statistics enables one to make analysis of data and take decisions using a gamut of statistical analysis packages or programming environments. Business Statistics wields a high level of influence in high-level, strategic analysis of real-world areas of difficulty across the boundaries of disciplines. We see a lot of collective actifity in fields such as risk in financial markets, the modelling of the choice of consumers and behavior of corporates, and in the creation of indices to measure political risk. Such activities have only enhanced the importance of Business Statistics. (Welcome to the Discipline of Econometrics and Business Statistics)"

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