Unit 7: Business Statistics – Discussion
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. TopicsStatistics in BusinessStatistics in Business 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.
Provide two replies to other student posts. These replies should be at least 2–3 sentences and should be written to further the discussion.
Discussion Best Practices
The Discussion Board is where you post your responses to the Discussion topics and share your experiences in completing exercises and applying the concepts of this course. You will need to post an initial response that thoroughly covers the topic(s). You will also need to respond substantially to at least two of your classmates’ posts. These replies should be at least 2–3 sentences that further the discussion (remark on something specific from the post, tactfully point out mistakes, ask questions about the post, etc.). You should post throughout the unit to get assistance on problems with which you may be having issues. This will also to give your classmates the opportunity to respond to your ideas.