Statistics for Management

UNIT 31:
STATISTICS FOR
MANAGEMENT

TABLE OF CONTENT
■ Introduction
■ Part 1
■ Conclusion
■ references

INTRODUCTION
■ Statistics are the set of mathematical equations for analyzing
things. Statistics have importance as today everyone is living
in informative world and the information's are determined
with the help of statistics.
■ Statistics allows in making smarter decisions for by the
management for the business.
■ Statistical analysis provides with more accurate information
to the management on which they could rely. The statistical
analysis provides company with data that will help in
avoiding future problems.

Introduction to statistics
■ Statistics refers to mathematical science that includes
methods for collecting, organizing & analyzing
information data in manner that provides for meaningful
conclusions. Some people consider statistics as separate
mathematical science and not branch of mathematics.
■ Statistics have concern regarding the use of information
in uncertainty context and decision making process.
When applying statistics to problem, practice starts with
population or the process to be studied.