example of the USES of Statistics, AND one practical example of the ABUSES of Statistics.

Q: ​How does Chambers justify changing Cisco’s business structure from command and control to teamwork…

A: cisco Systems, Inc. (Cisco), an Internet technology company, had an organizational structure…

Q: Use of Statistical Analysis Tools? explain

A: Quantitative methods have a critical role in business management as they offer managers the tools…

Q: Explain why it's important to keep track of forecasting errors.

A: For a time series or other phenomenon of interest, forecast error is the difference between the…

Q: How do you explain descriptive statistics in business research?

A: Descriptive statistics is a branch of statistics that deals with analysis and interpretation of…

Q: Think of an industry or company other than automotive that relies heavily on forecasting accuracy.…

A: Forecasting is completely based on past data, unlike predictions that are based on instinct, or…

Q: Describe the use of forecasting in compiling a technical document?

A: Forecasting is the most common way of assessing or foreseeing future results, patterns, or occasions…

Q: What is linear trend forecast.

A: Forecasting is the process of identifying the demand accurately for future production planning and…

Q: What is a time series and the rationale for forecasting based on a time series analysis?

A: Forecasting refers to the prediction of the future based on some evidence or a strong base.…

Q: true or false Descriptive statistics are too basic therefore not very useful in data analytics.

A: Descriptive Statistics involves estimating and using the specific information in number and make a…

Q: Is formal training in statistics required to make use of BI tools? Why are we doing this?

A: Business Intelligence (BI) is the process of analyzing business data to provide insightful…

Q: There are two general methods to forecasting:Even, what is their meaning?

A: The organization's forecasting is critical. External forces are used to forecast, and a few…

Q: practical example of the USES of Statistics, in business applications.

A: Statistics is a field of study and includes method such as collection, interpretation, organizing,…

Q: What are the seven steps taken in forecasting system?

A: Forecasting: Forecasting is the process of accurately estimating demand for future production…