Statistics for Management

Student Name (ID)

Submitted to: Board of Directors (BOD) of your chosen organization name

Submitted by: Data analyst
Date:_______________

1
Table of contents

2
List of tables

3
List of figures

4
Executive summary

5
Part 1: Evaluation of business and economic data/information obtained from published
sources

1.1 Introduction

1.2 Statistics (Definition)

1.3 Evaluation of nature and process of business and economic data/information from a
range of different published sources
Business and economic data (Definition with examples)

Nature of data and information (Definition and their differences)

How data can be turned into information and information into knowledge (Discussion)

Evaluate the nature and process of business and economic data from a range of different
published sources (Get sample of business and data from a published sources and discuss their
nature and process such as how they are collected and compiled; how often they are published;
how useful they are)

1.4 Evaluation of data from a variety of sources, using different methods of analysis
Descriptive analysis (Definition)

Exploratory analysis (Definition)

Confirmatory analysis (Definition)

Evaluate the data from a variety of sources, using different methods of analysis (Here you need
to perform the above statistical analysis to the published data in the previous section)

6
Part 2: Analysis and evaluation of raw business data using a number of statistical methods

2.1 Introduction

2.2 Organization profile

Background (organization name, product/service name, founder name, when it was developed,
number of employees, address, and so on…)
Logo

Vision

Mission

2.3 Analysis and evaluation of qualitative and quantitative raw business data from a range of
examples, using appropriate statistical methods
Raw data (Definition with examples)

Qualitative and quantitative data (Definition with examples)

Measures of central tendency (Define mean, median, and mode with formula and their
advantages and disadvantages)

Measures of variability (Define range, variance, and standard deviation with formula and their
advantages and disadvantages)

Application to qualitative and quantitative business data (Here you need to perform above
statistical analysis using your organization’s data such as finding average earnings, measuring
variability in business processes such as queuing times and customer arrival rates)

7
Difference between sample and population (Definition with examples)

Different sampling techniques (Definitions for both probability and non-probability sampling
methods)

Scatter plot (Definition with a graph)

Correlation coefficient (Definition with formula)

Business applications such as the association between output and cost, adverting and sales (Use
data of your organization)

8
Part 3: Application of statistical methods in business planning

3.1 Introduction

3.2 Application of a range of statistical methods used in business planning for quality,
inventory, and capacity management
Quality management (Definition)

Inventory management (Definition)

Capacity management (Definition)

Binomial probability distribution and its business application such as inspection sampling
(Definition with formula and business application using example data)

Poisson probability distribution and its business application such as customer arrival rates
(Definition with formula and business application using example data)

Regression and Forecasting (Here you need to preform regression analysis using the data of
your organization)

9
Part 4: Communicating findings using appropriate charts and tables

4.1 Introduction

4.2 Levels of measurement

 Nominal (Definition with examples)
 Ordinal (Definition with examples)
 Interval (Definition with examples)
 Ratio (Definition with examples)

4.3 Assessment of different types of visual representations for communicating findings

effectively
 Frequency tables (Definition with a table)
 Histograms (Definition with a graph)
 Frequency curves (Definition with a graph)
 Normal curves (Definition with a graph)
 Pie chart (Definition with a graph)
 Line graph (Definition with a graph)
 Advantages and disadvantages of the above table and chart (Discussion)
4.4 Using appropriate charts and table, communicate findings for given variables effectively
(Here you need to draw different tables and graphs using your data)

10
References

11