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utility of statistics as a managerial tool
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∙ 15y ago
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How can you observe a class using inferential statistics?
You cannot. Statistics are not an observational tool.
Application of inferential statistics in managerial decision making?
cenus investigation sampling analysis of past trends
What are application of Inferential Statistics in managerial decision making?
census investigation sampling analysis of past trends
Discuss the utility of statistics as a managerial tool Also describe its limitations?
The limitation of any statistical application is the fact that it always depends on some sampling. If this sampling is incomplete, or not representative of your actual base (say customers), your data may not yield accurate conclusions. Additionally, since it depends on sampling, your measurement is only applicable to a base that fits the profile of your sampling. For instance, if you took your sampling from Caucasian males over age 35, and it turns out your customer base has a large number of African, American females under 23, your conclusions based on the statistics could be imperfect.
What is the only tool of the seven quality tools that is not based on statistics?
Cause and Effect is a what could not what did. Its a theory chain
What is managerial statistics?
a pooing bird
Critically assess the role of managerial economics as a cross functional managerial decision tool?
do your own research dude! sickeez!
Which utility is not a systems tool utility?
I think answer is File Compression
Difference between computer and computer utility?
A Utility is a tool that's on the computer itself.
Is System Restore a utility?
It is a system tool.
A tool that starts with the letter U?
A tool that starts with U is a utility knife.
How can you observe a class using inferential statistics?
You cannot. Statistics are not an observational tool.
How is statistics applied in management?
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.
Application of inferential statistics in managerial decision making?
cenus investigation sampling analysis of past trends
What are application of Inferential Statistics in managerial decision making?
census investigation sampling analysis of past trends
Discuss the utility of statistics as a managerial tool Also describe its limitations?
The limitation of any statistical application is the fact that it always depends on some sampling. If this sampling is incomplete, or not representative of your actual base (say customers), your data may not yield accurate conclusions. Additionally, since it depends on sampling, your measurement is only applicable to a base that fits the profile of your sampling. For instance, if you took your sampling from Caucasian males over age 35, and it turns out your customer base has a large number of African, American females under 23, your conclusions based on the statistics could be imperfect.
What is the important of managerial statistics?
get your answere at http://hr-horizons.blogspot.com/2008/07/recruitment-process-outsourcing_23.html
