BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Two main statistical methods are used in data analysis: descriptive statistics, which summarizes data using indexes such as mean and median and another is inferential statistics, which draw conclusions from data using statistical tests such as student’s t-test.

Detailed explanation-2: -For example, statistical techniques such as extreme values, mean, median, standard deviations, interquartile ranges, and distance formulas are useful in exploring, summarizing, and visualizing data. These techniques, though relatively simple, are a good starting point for exploratory data analysis.

Detailed explanation-3: -What is statistical analysis? It’s the science of collecting, exploring and presenting large amounts of data to discover underlying patterns and trends. Statistics are applied every day – in research, industry and government – to become more scientific about decisions that need to be made.

Detailed explanation-4: -Example of statistical analysis. 1. Recording the number of potential pollinators approaching and the number of those landing allows us to separate the effects of reduced visitation of predator-occupied plants from an overall reduction in the number of pollinators visiting.