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Business Statistics Essay Example

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Business Statistics

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From the staff opinion it would be easier to gauge whether they would buy in to the 2 year degree programme or not.Question three: Are you willing to take a summer course? This question would target the student population and would elicit Yes/No answers that would gauge the general attitude of the student population.Question four: Are you willing to lecture in summer? The university lecturers cooperation is essential for the project to take off therefore the university would need to see how many of its lecturers are up to the task. From this reply the university would know if it needs to entice lecturers to buy-in or not.Question five: Can you afford schooling during summer? Many students take on summer jobs to assist them meet the financial obligations that come about from joining a university or to help them reduce their student loans. Thus the question of affordability would be critical for the university. The university would not want to start a program that its students cannot afford to join.I would use a face to face data collection method because firstly of the setting. University students would be very unwilling to fill questionnaires and post them back and also they would not be so cooperative over the telephone. It is also easier to assess their attitude and ensure their concentration in a face to face interview. East region may be dominant but it has also had the highest decline in sales from £9.1M in 2005 to £4.2M in 2008. This could be the cause of the overall decline considering that the S. East region has the highest share of sales contribution to the company.Mean is the probably the most commonly used statistic of all time. It is one way to determine where the centre of the data is. Its advantage is that all values in a data set are taken into account (Triola, 2007).However, the disadvantage of using mean is that it is affected by outliers - numbers in the data set that are extremely high or extremely low compared to the rest of the data.The median of a data set is the value that lies exactly in the middle when we order the numbers from smallest to largest (Ramsey, 2003). The advantage of using the median is that it is not affected by outliers. In fact, the most governments often use the median to represent the centre with respect to their data because of the extreme values in various national data. The disadvantage of using

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preview essay on Business Statistics
  • Pages: 4 (1000 words)
  • Document Type: Essay
  • Subject: Unsorted
  • Level: Undergraduate
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