MAHTABUR RAHMAN

ID:
QUANTITATIVE TECHNIQUES IN BUSINESS
LONDON SCHOOL OF COMMERCE, DHAKA
BATCH:
EXECUTIVE SUMMARY
The report is based upon the quantitative techniques in business, and indicates how a business
is beneficial in terms of utilizing quantitative data that states the numerical information being
involved in a business. The report as per acknowledged has been constructed with informative
knowledge which was gathered from sources that are referred to be reliable and valid. Thus,
this report could be utilized in further research scopes by other authors and educators, in terms
of researching information and data relating with similar subject & topic, as per the
understanding of the researcher.

INTRODUCTION
Aim:
The major aim of the assignment to acknowledge the type of techniques and theories that
could be applied in the business with numerical information.

Purpose:
The major purpose is to acknowledge the importance of correlation and regression in a
business to evaluate informative data.

Methodology:
The major methodologies in a business is the distinction of the numerical data being
implemented in specific in specific criteria such as for the line graph, bar chart and more.

Limitation
There are no specific limitations or this report to be utilized in due time, if there is a reliable source of
extensive knowledge to reform this report in betterment.
Task – 1

What is Statistics?

Statistics, it is the procedure for a business organization and its management to acknowledge
on how the data can be arranged, coordinated, analyzed, interpreted and presented
accordingly in terms of being applied in an organization, entity, institution or any other relevant
platform to ensure the solutions for specific problems, in regards of statistics, it can be
acknowledged that companies usually collect relevant data.

Types of Statistics & Importance:

Descriptive Statistics
These are the type of information being involved in a business that enhances elaborately on
what type of information could be involved accordingly in a business, for which it is
acknowledgeable for a fact, that the descriptive information helps the management to
acknowledge the type of information required since it is an advancement for the business
accordingly and advancing the type of information could be relevant for the business to detect
numerical data. Thus, in reference of the company using descriptive statistics can enhance on
the operational field with the utilization of accurate data as well as method being selected.

Probability
Probability indicates the level of information that is acknowledge under assumption with the
level of influence being engaged with the information provided. Since companies are being
considerate regarding the type of information required for statistics that will be enhanced for
company purposes to develop a probability and defend against the type of references being
acknowledged. Nevertheless, it is as well understandable for a fact that they can be notified in
terms of the business and the management for being considerate and referring to the
estimated number of principles being recommended by business owners and departments for
which it is highly considerable.

Inferential Statistics/Estimation
Inferential statistics in a business includes reasoning on the type of information being involved
in a business and enhances on the type of information being provided accordingly by the
respected management for which it is noticeable that the businesses and it management needs
to ensure the level of outcome being recognized and as well as the type of information that is
being involved. In regards of the company and its management it is acknowledgeable for a fact
that the company is being considerate for particular reasons and being reasonable with the
amount of numerical data that is being involved in the business.

Experimental Design
In regards of the design It can be acknowledged for a fact that company and the department of
research & development, it is clearly noticeable for a fact that companies that are being
considerate and acknowledged for the terms are being equally utilized and regulated since the
level of enhancement in the organization that develops new theories and concepts for the
management to work along with the data in the business, with which it acknowledgeable for a
fact that the company can be related towards the type of information being involved
accordingly in the business and its departments.

Time series & forecasting

In terms of business and its managements it is clearly acknowledged for specific factors that is it
being equally notified by the managements of the businesses and how these specific data can
be acknowledged by businesses and its management to ensure the level of authenticity in the
market accordingly. In regards of the business environment it can be understood that
businesses that are being regulated accordingly with the information of time series &
forecasting, it ensures the utmost level of authentic information in terms presuming allocated
data with the accurate amount of resources involved for the businesses and industries.

Definition of Central Tendency

Central tendency, is an elaborative brief of dataset in reference of a singular value factor that
enhances an entire set of data recognition. The central tendency is acknowledged a major
consideration of the descriptive statistics and for which it can be acknowledged that businesses
that are being considerate towards the development of organizations and as well as recognition
of the factors that can be explicit toward specific dataset, with which it is not only recognizable
but as well as understandable for a fact that companies have always been researching accurate
data. Nevertheless, central tendency in regards of researchers and other mathematicians can as
well enhance the level of authorization in a business and for which it is understandable that
companies have the level of development in their organization accordingly.
Since there are major departments in a business, with which it can accordingly record the level
of accurate information and for which it is also acknowledgeable that companies are being
more moderate towards the enjoyment of business. Nevertheless, for many companies there
are specific departments that enhance the level of involvement in the business and as well as
recognize the type of factors that is essential for the business to survive accordingly.
Mean:

In regards of the information being provided by the company, it is acknowledgeable that the
company and the management collecting the information on the data set should all up all the
numerical figures and divide I by the categories available.
Such as: (2.20 2.35 3.26 3.89 1.05 2.65 3.00 3.59 3.89 4.00 1.59 1.26 2.89 3.76 2.23) / 15
= 2.772

Median:

In reference of the company being involved with numerical data, it can be acknowledged that
they are being informative towards the information that is being provided to them and for
which it is as well recognizable for being dominant towards the relevant type of information,
and calculate the between number of all the figures involved.
Such as: 2.20 2.35 3.26 3.89 1.05 2.65 3.00 3.59 3.89 4.00 1.59 1.26 2.89 3.76 2.23
= 3.59

Mode:

In reference of the numerical figures in the selective dataset, the mode is considered to be the
maximum times of the same numerical figure used in the information data, such as for the
mode in this dataset it is considered to be as per understanding;
(2.20 2.35 3.26 3.89 1.05 2.65 3.00 3.59 3.89 4.00 1.59 1.26 2.89 3.76 2.23)
= 3.89
TASK – 2

Frequency Distribution

Frequency distribution in regards of a company being considerate towards the level of output
given into a particular dataset enhances the level of acknowledgement and as well as the
distribution of numerical order that elaborates the creating of numerical figures being
conducted by organizations as well as individuals working in department.

Bar chart

Income
2.23 25000
3.76 28000
2.89 22000
1.26 12000
1.59 15000
4 39000
3.89 30000
3.59 28000
3 27000
2.65 22000
1.05 15000
3.89 35000
3.26 26000
2.35 25000
2.2 20000
0 5000 10000 15000 20000 25000 30000 35000 40000 45000

Income

Bar Chart, in regards of the fata being given by the case study of the GPA and the comparison of
the income being received in accordance of the GPA. It is highly acknowledgeable for a fact that
the numerical data in their preferred accordance can enhance the level of involvement of
understanding how the GPA in an individual’s career life can influence the level of income they
are earning in accordance of the data being provided accordingly.
Pie Chart

Income
2.2
2.35
3.26
3.89
1.05
7% 5%
8% 7% 2.65
7% 3
6% 3.59
3% 3.89
9%
4% 4
4% 1.59
11% 1.26
6%
2.89
8% 7%
8% 3.76
2.23

In reference of the Pie Chart, in indicates as the percentage of the individuals in accordance of
their GPA and the income they are receiving along with the comparison of the GP. Such as for
the pie graph it is acknowledgeable for a fact that the researcher should understand that the
level of statistics being utilized to fulfill a pie graph enhances on many factors and for which it is
being understandable that the statistics have a segmented data accordingly.
Line Graph

Income
45000

40000

35000

30000

25000

20000

15000

10000

5000

0
2.2 2.35 3.26 3.89 1.05 2.65 3 3.59 3.89 4 1.59 1.26 2.89 3.76 2.23

Income

Line graph for mathematicians and researchers of particular business campaigns, o any
research material clearly indicates the comparison between the Y-axis figures and the X-axis
figures, for which it is as well noticeable that individuals being moderate towards the digits
being provided, and as well as understanding on the differences of income being received by
individuals in terms of the selective data being implemented by the researcher, as well as
acknowledging the type of informative data being managed accordingly in the data set.
Scatter Plot

Income
45000
40000
35000
30000
25000
20000
15000
10000
5000
0
0.5 1 1.5 2 2.5 3 3.5 4 4.5

Scatter Plot indicates a mapping direction for the numerical figures in a data set, and indicates
how the comparison is being made in accordance of the data being input accordingly by the
researcher or the mathematician. In regards of the company being beneficial in the business, it
can be acknowledged that there many patterns of the scatter plot to witness, and for which it is
also reasonable that the researchers are more appropriate with the plotting system of the
points in accordance of the scatter plot, as well as understanding how it could be beneficial for
the researchers to utilize the information accordingly.

Correlation

GPA Income
GPA 1 0.913891906
Income 0.913891906 1
Correlation is an estimated or measured result of a linear relationship of two specific
quantitative/measurable variables, it indicates the exact differences of the relationship
between both components and how it can be indicated how the measurement of a specific
stock in regards of a benchmark index can be regulated accordingly. Since correlation is being a
recommendable choice for the researchers to acknowledge the level of factors being involved
in the business and for which it is as well noticeable that the individual’s GPA and the income
level of the individual is being regulated accordingly in the specific table.According to the r =
0.91, it can be explained by the reasoning of the correlation and as well as how It could benefit
both the individuals to researcher and the reader to recognize the level of factors being
involved accordingly for which it is also linear in terms of management, and amendments being
recorded accordingly, in reference of the report being elaborated accordingly in the specific
criteria.
SUMMARY OUTPUT

Regression Statistics
Multiple R 0.913891906
R Square 0.835198415
Adjusted R Square 0.82252137
Standard Error 3090.8609
Observations 15

ANOVA
Significanc
df SS MS F eF
Regression 1 6.29E+08 6.29E+08 65.88274 1.91E-06
Residual 13 1.24E+08 9553421
Total 14 7.54E+08

Standard Upper Lower Upper

Coefficients Error t Stat P-value Lower 95% 95% 95.0% 95.0%
Intercept 5602.23137 2472.861 2.265486 0.041211 259.9406 10944.52 259.9406 10944.52
GPA 6848.510681 843.7433 8.116818 1.91E-06 5025.714 8671.307 5025.714 8671.307

Regression
Regression, can be identified as a statistical procedure that is utilized while financing, investing, and
acknowledging other specific elements and factors that elaborate the characteristics & strength of both
types of variables such as for independent variable and dependent variable. In which it can be
acknowledged as the variable in the Y-axis and the variables in the X-axis, for which it can be
acknowledged that the understanding of the specific numerical data being recorded accurately. With
which for researchers in terms of regulating accurate data it gets easier for the individuals to regulate
their information accordingly and efficiently.

Regression has many types of challenges such as for the accuracy of the information being provide in the
dataset which can be very challenging for the researcher or the specific department in the business
since it enhances on the level of theories being elaborated accordingly. In reference of other researchers
it is highly recognized as a characteristics to understand the types of specific challenges that they
encounter and for which they can as well create issues while developing the types of specific segment
they would want and as well notify the specific factors being regulated within the business management
or the data being provided accordingly.

Output Analysis

For the specific figure above it can be stated that the Y axis is the Income variable.

The X- axis is the GPA variable.

M is the slope for the analysis

Thus, for the intercept of the Analysis it is C.

In reference of understanding the average income, the analysis has been done in regards of analyzing
both dependent and independent variables.

From the above analysis predict the income of an employee with a GPA of
2.50

Y = 6848.51 * 2.50 + 5602.23

Y = 22,723.5

In regards of the predicted income of an employee holding a GPA of 2.50 is 22,723.5, according to the
analysis on the specific dataset given by the researcher.

In respects of the Standard Error, it has been legitimized for the trademark to fall on the classification of
genuine Mean since the standard mistake is little.

In reference of the R-Square, which upgrades on the factor at how 96% of the focuses are being ordered
at the line of relapse, which also shows on how the line Y is being assessed since it fits the line as needs
be in way.

As per Multiple R, it very well may be demonstrated on how the GPA and income of a worker improves a
firm and direct holding as far as the segments thought about.

By the by, for the Significance F, it is an assessment on how the relapse model regarding speculative way
can't be denied/dismissed concerning the segments showed.

TASK – 3

Define Sampling
Define probability and non-probability sampling

Discuss advantages and disadvantages of each

Conclusion
The purpose of the assignment, revisited.

Summary: main points and highlights from the body paragraphs.

Significance: the relevance and implications of the essay's findings

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