Discussion Post: Statistics in Business
Discussion Post: Statistics in Business
Statistics in Business
Statistics play an important role in predicting what will happen in the future based on collecting, reviewing, and analyzing data from the past. There are various ways to analyze the information collected, including mean, median, mode, standard deviation, range, and others.
Do some research, from a reliable source, such as the U.S. Department of Labor (not a scholastic or school site or Wikipedia) to find an interesting set of data and present the mean, median, mode, and standard deviation for this data set. In your initial post, fully explain the information and/or make predictions for the future based on your findings. For example, if you are using previous sales for your data set, you might want to predict future sales or suggest wholesale ordering of product for the business to sell.
