Statistics for Business Decisions

Statistic techniques and methods are useful tools when we apply them to improve the efficiency and effectiveness of business decisions. Statistics deals with available data and provides through its techniques more reliable solutions than the other techniques. It helps managers to deal with uncertainty with more confidence, focusing on future pictures by using trend analysis techniques, making judgments without biased subjective ideas by testing hypotheses techniques, relying on a well-selected sample, and testing interactions and correlations between significant variables using different parametric and non-parametric techniques.