Industry statistics gather data from companies in defined industries to represent an average trend across areas such as sales and raw material costs. Companies use these as benchmarks to evaluate performance. Data is collected from direct and indirect competitors and displayed as percentages or numerical figures. Companies use industry statistics to identify strengths and weaknesses, […]
Retail stats include sales revenue growth, percentage of gross profit, sales returns and rebates, same-store sales, and employee turnover. These metrics provide information about a company’s inner workings and allow for comparisons with other businesses. Sales growth, gross profit percentage, returns, and employee turnover are all important metrics for retail companies to track. Retail stats […]
Business statistics uses data to make decisions in uncertain situations. It is used in finance, marketing, and customer service departments. Understanding and applying it can give companies a competitive advantage. Techniques include descriptive statistics, probability, hypothesis testing, and linear regression. Business statistics is the science of using data to make good decisions in the face […]
Website statistics provide information about website traffic, including hits, files, pageviews, visits, response codes, URLs, referrers, search strings, and user agents. This data can shape advertising campaigns and site design. The most popular online website statistics system is Webalizer. Website statistics are numbers and information that allow you to know data about the traffic coming […]
Statistical analysis systems are software used for statistical analysis on datasets, including descriptive and inductive statistics. They are used by scientists and businesses, with both graphical and command line interfaces. Fourth generation programming languages have made data manipulation easier. Many proprietary and open source software applications are available for various operating systems. The term “statistical […]
Statisticians with advanced degrees have many career opportunities in business, healthcare, and government organizations. They can design studies, analyze trends, and make predictions based on data in various fields, including manufacturing, finance, insurance, clinical trials, psychology, public opinion, and ecology. Specialization in a particular area of statistics is common. There are many types of career […]
Inferential statistics use data from a sample to make generalizations about a population. Sampling methods must be chosen carefully to ensure validity. They are used in population and event research to draw conclusions and shape public policy, marketing, and political campaigning. Inferential statistics are data that is used to make generalizations about a population based […]
The EPA calculates emissions statistics based on CO2 produced per gallon of gasoline, fuel economy, and miles traveled. Greenhouse gases, including CO2, methane, nitrous oxide, and hydrofluorocarbons, contribute to emissions. CO2 contributes 95% of greenhouse gases and is the primary focus. The average passenger car emits 5.48 tonnes of CO2 per year based on 12,000 […]
Trend analysis statistics are used to discover performance records and make informed decisions. Descriptive statistics summarize data while inferential statistics rely on probability. Faulty information can produce biased results, so multiple reviews are necessary for accuracy. Statistical analysis is a common process for individuals and companies seeking to gain insight from a large series of […]
A vital statistics office keeps records of births, deaths, marriages, and divorces, and may publish statistical information. They issue birth, death, and marriage certificates, and maintain marriage and divorce lists. The information can be used for social policy research and genealogy. A vital statistics office is a government agency that, at a minimum, keeps records […]
Statistics can be misleading due to the statistician’s interpretation of data and which figures are highlighted. Measures of central tendency, such as mean, median, and mode, can also be misleading. Questions asked in surveys and the representativeness of the sample can also affect the accuracy of statistics. Numbers and statistics cannot represent the individual. There’s […]
Qualitative data statistics are used by researchers to make inferences about a larger population. The data types include nominal, ordinal, range, and ratio variables, and can be manipulated to support or not support a hypothesis. Independent and dependent variables are identified, and nominal, ordinal, range, and ratio variables are explained. Qualitative data statistics is one […]
Business statistics involves using data to make decisions in uncertain situations. It is used in finance, marketing, and customer service departments. Techniques include descriptive statistics, probabilities, hypothesis testing, and linear regression. Understanding and applying business statistics can give businesses a competitive edge. Business statistics is the science of using data to make good decisions in […]
