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How would you define statistics? How is statistics used in business decision making?

What is the importance of statistics in business decision making? Describe a business situation where statistics was used in making a decision.

How would you define a variable? What is the difference between a dependent and independent variable? Do you think we use both variables in every research? Explain why or why not. Provide examples.

How would you define dependent and independent variables? What is their significance in research? Explain with examples.

What are the four data measurement scales? Explain with examples. Which level of measurement is lowest and why?

How do we define measurement? What are various levels of measurement? How do you select measurement levels when developing a survey or data collection tool? Explain with examples.

What are data? What is the relationship between data and variables? What is your understanding of meaningful data?

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