Week 1 Qnt 351

pic CERTIFICATE OF ORIGINALITY Icertify thatthe attachedpaper is my original work. I am beaten(prenominal) with and acknowledge my responsibilities, which argon part of the University of Phoenix Student Code of Academic Integrity. I affirm that any section of the paper which has been submitted previously is attributed and cited as such, and that this paper has not been submitted by anyone else. I give way identify the sources of all tuition whether quoted verbatim or paraphrased, all images, and all quotations with citations and reservoir listings.Along with citations and reference listings, I have used quotation marks to identify quotations of fewer than 40 words and have used occluded front indentation for quotations of 40 or more words. Nothing in this assignment violates copyright, trademark, or other sharp property laws. I further agree that my name typedon the line below is intended to have, and shall have, the aforementioned(prenominal) validity as my handwritten signa ture. Introduction to Statistics QNT 351 March 22, 2013 Merry GalloIntroduction to Statistics Statistics is defined in Statistics for Business and Economics, as the acquirement of data. Involves collecting, classifying, organizing, analyzing, and interpreting numerical information. Statistics is more than just sorting at numbers, there is a outgrowth affect in obtaining the numerical information. Statistical thinking is helpful as well. This involves applying rational thought and the science of statistics to critically assess data and inferences.It is important to keep in mind that variations exist in populations and touch data. There are two different types of statistics, descriptive statistics and inferential statistics. Descriptive statistics utilizes numerical and graphical methods to look for patterns in a data set, to summarize the information revealed in a data set, and to present the information in a convenient form. Inferential statistics utilizes sample data to make e stimates, decisions, predictions, or other generalizations most a larger set of data.Businesss are required to conduct research in come out to get their origin up and operating. In order to conduct through information the people involved with the business would have to be able to understand and implement the statistical findings. These findings could be as unanalyzable as reports on wether one area of a town versus another is more profitable. Statistics that would be a little bit more detailed would be the reports for financial matters. If the statistics are good then the business decisions should be healthy and successful.In my line of work there are plenty of statistics macrocosm used in every department. As a bartender I am responsible for knowing the levels of alcohol in my bottles, as well as how many beers I have in my coolers. The portions used in the recipes for the drinks is me being able to use ratios, and nominal data to run a profitable bar. The restaurant as a whol e uses stastics when planing the schedule as well as the weekly order. If our numbers are high for a day then our labor will be scheduled higher than normal.If the projected numbers are low then we operate with fewer servers and cooks. Another statistical problem that could occur is when we run our of items. In this case it would imply that our projections were off and we need to concentrate on the next weeks order to make sealed we are fully stocked and overly stocker in other areas. References This is a pause indent. To keep the hanging indent format, simply delete this line of text using the backspace key, and replace the information with your reference entry.