Overview

Business statistics is a specialized branch of statistics that focuses on the collection, analysis, interpretation and presentation of data to aid decision-making in business and management. It is focused on making informed decisions in situations of uncertainty. It plays an essential role in fields such as econometrics, financial analysis, marketing research and service improvement. As a branch of applied statistics, business statistics relies on data collected from business and government sources. Time series analysis is a key component of business statistics. A strong understanding of descriptive statistics, probability, binomial and normal distributions, linear regression and correlation is essential for studying this field. This book elucidates the concepts and innovative models around prospective developments with respect to business statistics. Some of the diverse topics covered in this book address the varied branches that fall under this category. In this book, constant effort has been made to make the understanding of the difficult concepts of business statistics as easy and informative as possible, for the readers.

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