Assignment: Statistics in Business

Purpose of Assignment

The purpose of this assignment is to have students demonstrate mastery of the foundational concepts that set the stage for the remainder of the course. Students apply those concepts to business research questions or problem situations to focus their thinking on statistical literacy for use in business decision-making.

Assignment Steps

Develop a 600-800-word paper addressing each of the following prompts:

1. Explain the process involved in the discipline of statistics.
2. Why do you think we should study statistics? How are they used to make decisions?
3. What is data? Provide an example of data that is regularly collected in your workplace.
4. What is a variable? How does this relate to data?
5. What are the differences between quantitative and qualitative variables?
6. Evaluate tables and charts used to represent quantitative and qualitative data.
7. Provide an example of a business decision and identify an important variable that will help you make a decision.

Proofread carefully, using a spell checker and a grammar checker.

Use two peer reviewed references.

Format your assignment consistent with APA guidelines.