Basic of Business Statistics

Statistics is the study of the collection, organization, analysis and interpretation of data. It deals with all aspects of this including the planning of data collection in terms of the design of Surveys  and experiments.

When you have completed this chapter, you will be able to:

  • Define what is meant by statistics.
  • Explain what is meant by descriptive statistics and inferential statistics.
  • Distinguish between a qualitative variable and a quantitative variable.
  • Distinguish between a discrete variable and a continuous variable.