answersLogoWhite

0


Best Answer

Statistics has huge application in business and these are used to help in taking managerial decisions by the managers. Moreover, there are many statistical formulas which make too much convenience in taking managerial decisions.

They are also helpful in calculating GDP of a business or state.

User Avatar

Wiki User

14y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: How is statistics applied in management?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Why is statistics applied in education?

Because statistics is included in the study of mathematics.


What is applied statistics?

ice cream


How can statistics be applied in payroll?

Statistics are applied to payroll in many different ways. The determination of the unemployment rate is found by applying payroll statistics. Without applying statistics to payroll the unemployment rate would not be found.


What has the author Richard Arnold Johnson written?

Richard Arnold Johnson has written: 'Business statistics' -- subject(s): Statistical methods, Industrial management, Statistical decision 'Applied multivariate statistical analysis' -- subject(s): Multivariate analysis 'Statistics' -- subject(s): Statistics, Textbooks


What has the author David M Levine written?

David M. Levine has written: 'Applied Statistics For Engineers and Scientists Using Microsoft Excel and MINITAB (With CD-ROM)' 'Business statistics for quality and productivity' -- subject(s): Commercial statistics 'Business Statistics' -- subject(s): Statistical methods, Industrial management, Commercial statistics 'Estadistica Para Administracion'


What has the author Gerald Keller written?

Gerald Keller has written: 'Essentials of business statistics' -- subject(s): Commercial statistics 'Statistics, The Mbook' 'Student solutions manual for Statistics for management and economics' -- subject(s): Economics, Management, Problems, exercises, Problems, exercises, etc, Statistical methods 'Statistics with Management Science' 'Study guide for Statistics for management and economics' -- subject(s): Statistical methods, Study guides, Management, Economics 'Instructor's manual for Statistics laboratory manual'


What is social statistics?

Social statistics is the use of statistics applied to people and their behaviors, habits, and opinions. The most common way to acquire social statistics is through polls and surveys.


Role of statistics in business management and administration?

Yes


How is math used in Recreational Therapy?

I'm not sure how statistics is applied to the job, but I was researching for a math project, and statistics is used.


What is the nature of statistic?

The nature of statistics is such that it gives logical methods of understanding data. Statistics are practically applied in all sectors.


How is statistics applied to information technology?

You can apply statistics when examining efficiency, performance, or making prediction. This certainly has application within IT.


What are the two division of statistic?

Statistics as a science can be divided into two main classes, namely, statistical methods and applied statistics.