Main Elements of Statistics: A Summary

Marla Houston

Ashford University

BUS 308: Statistics for Managers

Instructor Dr. Margarita Rovira

Main Elements of Statistics

A Summary

We can easily define what statistics means. It is a science where data is collected, classified, analyzed and interpreted using various methods. These methods are mathematical, and we use the different methods to draw various conclusions. These conclusions help us further our understanding of business, and daily life situations. For instance, we collect statistics on sporting events, currently there are countless people and mathematicians gathering the data from the games on Sunday the 18th, and the games throughout the season to draw conclusions on who will win in the Super bowl on the...