STS 215 Chapter Notes - Chapter 1: Statistical Process Control, Economic Order Quantity, Social Security Number
30 Aug 2017
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Document Summary
Helps us understand a variety of business and economic situations. Refers to the art and science of collecting, analyzing, presenting, and interpreting data. Public accounting firms use statistical sampling procedures when conducting audits for their clients. Economists use statistical information in making forecasts about the future of the economy or some aspect of it. Financial advisors use price-earnings ratios and dividend yields to guide their investment advice. Electronic point-of-sale scanners at retail checkout counters are used to collect data for a variety of marketing research applications. A variety of statistical quality control charts are used to monitor the output of a production process. A variety of statistical information helps administrators assess the performance of computer networks. The facts and figures collected, analyzed, and summarized for. The facts and figures collected, analyzed, and summarized for presentation and interpretation. All the data collected in a particular study. The set of measurements obtained for a particular element.
