Business Statistics
Statistics is the methodology developed by scientists and mathematicians for interpretation and drawing conclusions from collected data (Isotalo, 2012). The main activities involved in statistics are collecting, processing, analyzing, interpreting, and presenting of data. Everything under these fields or anything remotely related to the fields, and the planning preceding these activities all belong to the domain of activities. Statistics is very broad and is not applied to science and mathematics alone but vast fields including business.
Qualitative versus Quantitative Data
Data used in statistical research can either be qualitative data or quantitative data. These data differs in their uses, their methods of collection, ...
