School of Business & Information Sciences: Statistics

This report presents strategies for improving the accuracy, timeliness, coverage, and integration of data that are used in constructing aggregate economic statistics, as well as in microlevel analyses of topics ranging from job creation and destruction and firm entry and exit to innovation and productivity. This report offers recommendations that could be enacted by federal statistical agencies to modernize the measurement of business dynamics, particularly the production of information on small and young firms that can have a disproportionately large impact in rapidly expanding economic sectors.

The book covers Statistical conceptual framework, investigation, collection of data, its classification, tabulation, Diagrammatic and graphical representation, measures of central tendency, measures of dispersion, skewness, correlation, regression, time series, interpolation and extrapolation and lastly index numbers.

This book consists of the following four parts: Motivations and Foundations; Elementary Probability and Statistics; Decision Making Models; and Advanced Statistical Modeling.

Highlighting the relevance of statistical methods in everyday applications, The Role of Statistics in Business and Industry bridges the gap between the tools of statistics and their use in today's business world. This one-of-a-kind resource encourages the proactive use of statistics in three well-organized and succinct parts." "This book is truly unique in that it first describes case studies and key business problems, and then shows how statistics is used to address them, while most literature on the topic does the reverse. This approach provides a comprehensive understanding of common issues and the most effective methods for their treatment.