Ask a question from expert

Ask now

Statistics for Management - Introduction

18 Pages3743 Words496 Views
   

Added on  2021-01-01

Statistics for Management - Introduction

   Added on 2021-01-01

BookmarkShareRelated Documents
Statistics for Management
Statistics for Management - Introduction_1
Table of ContentsINTRODUCTION...........................................................................................................................1ACTIVITY 1....................................................................................................................................1P1 Process and nature of business and economic data with different published sources............1P2 Data form variety of sources using various methods of analysis...........................................5M1 Analysis of price indices other than Office of National Statistics........................................7D1 Difference between the descriptive, Exploratory and confirmatory analysis with examples7ACTIVITY 2....................................................................................................................................8P3 Evaluation of qualitative and quantitative data from a range of examples and appropriatestatistical methods........................................................................................................................8M2 Assessment of different statistical application....................................................................11ACTIVITY 3..................................................................................................................................11P4 Statistical methods used in business planning, inventory management and capacitymanagement...............................................................................................................................11M3 Justification and use of statistical methods.........................................................................12D2 Explanation and recommendation for activity 3..................................................................12ACTIVITY 4..................................................................................................................................12P5 Use of adequate charts and tables to execute the findings for a various variables...............12M4 Graphical representation assessed in activity one and second............................................15D3 Use of tables and graphical representations in activity 1 and 2...........................................15CONCLUSION..............................................................................................................................15REFRENCES.................................................................................................................................17
Statistics for Management - Introduction_2
INTRODUCTIONStatistics for management stands for analysis of business decisions and operationalmanagement with statistical evaluation tools and methods (Zhou and Luo, 2015). This reportdefines the business process and nature with economical data form various published sources.Various data are used with different methods of analysis. Difference between descriptive,exploratory and conformity analysis given with suitable examples. Evaluation of differencebetween analytical methods used for elaboration. Statistical methods used in business planningand capacity management are with practical based examples. Justifications and recommendationsare also provided with particular section. Information and data are being presented in graphicaland tabular form for effective elaboration and conductive approach.ACTIVITY 1P1 Process and nature of business and economic data with different published sourcesCPI (Consumer price Dices)It is a method of evaluating the consumption rate of individual in terms of customergoods and services for a particular time duration. This process helps in ascertaining the averageor normal rate of economic growth rate with in or outside the organisation. Main objective ofCPI is assisting users to understand the economic changes and growth rate with effectiveplanning and organising process. There is a separate segments and fractions are utilised withinflation rate and cost (Siegel, 2016).1
Statistics for Management - Introduction_3
CPIH (Consumer price Indices Housing)It is considered as unique method of calculating the price inflation and measurement ofacquiring housing costs. It is a particular step that helps in analysing the general aspects andassumptions made upon relation and inflation rates with changing rate of economy. It assist themeasures of inflations and provide a broad explanation about the price change in the economy(Al-Nasser and Al-Omari, 2013). RPIThis is one of the pricing index helps to evaluate the variations among the goods andservices form manufacturer or seller perspective. As there are type of possibilities remainassociated with Retail Price Index. The UK recommend the new Index that subsequently adoptedby ONS (office of national statistics). RPI indicates towards the change in cost of living and themovement of prices in organisational context. The use of RPI mainly helps in consolidating thetaxes and various taxation levels. CPI helps in acquiring the housing and the mortgage interest2
Statistics for Management - Introduction_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Statistics for Management: Nature, Process, and Evaluation of Data
|21
|3384
|97

Statistics for Management Assignment Solution
|16
|3449
|157

Statistical Statistics for Management Inflation
|24
|3596
|221

(PDF) Statistics for management | Assignment Sample
|15
|2703
|98

(Doc) Statistics for Management Assignment
|23
|4220
|39

[PDF] Statistics for management : Assignment
|14
|2865
|79