Business and research statistics can be very valuable to your business. These analysis methods are a way of analyzing it. They can give you the big picture of where you are now, control processes within your business and forecast where you are going. Consider this section of the website as a way to get free probability and statistics training.
Statistics is an applied science used to discover facts and relations concerning the subject under study.
Statistics take into account the uncertainty factor. Most all of mankind's endeavors
have a random factor. A good example is weather forecasting. The weatherman is
communicating that uncertainty when he states that there is a 30% chance of rain
tomorrow. Statistics is a way of putting numbers to that randomness.
Business and research statistics is relevant to most areas of the business world. Statistics is important to business analysis in the fields of manufacturing, agriculture, pharmaceuticals, retail and in many others.
Some of the techniques presented here are advanced. Others are very basic. They are designated as follows:
Simple Regression Calculation - This technique will appeal to the fortune teller in you. It is a method of using the data that you have to predict data that you don't have. It is assumed that the data describes a linear realtionship. (I)
Two Concepts Of Regression Analysis - Here you will find information that is helpful to understanding and applying regression analysis.(B)
Mean Average - The mean average , average or mean is used to generalize a set of data points. (B)
Calculate Median - The median is another method for generalizing a set of data points. (B)
Correlation Defined helps you understand what correlation means. You will find its formula as well as a link to an example that shows correlation in action. (I)
What Is Standard Deviation will help you determine how "deviate" your data is from the mean or average. This is a key concept for the normal distribution, but it has other applications as well. (B)
Standard Deviation Calculator - Use this simple calculator to calculate any standard deviation up to 25 data points. (I)
Normal Probability Graphs - This tutorial introduces the concept of normal probability and the bell shaped curve.(B)
Normal Probability Distributions - You will learn more about normal probability and some of its characteristics. A introduction to using normal distribution probabilites is also presented.(B)
Business and research statistics is a powerful set of tools for learning about
a subject. The primary requirement is that there is a body of data available about
the subject of interest. This data can be analyzed to better understand the
characteristics of the subject.