How to Create Statistics for Management

How to Create Statistics for Management
Type:
Case Study Report And Presentation
Introduction:
The Statistics for Management is the especiality area of Management sciences which helps the organizations to manage the businesses effectively and get the maximum benefits from the business. It is normally used for the financial assessments, productions and other operations. It is also very useful for assurance of quality and other businesse experties. The Statistics for Management has two categories like the normal statistics. The first one is descriptives statistics and other one is inferential statistics. The descpriptive statistics is used to explain the total operations in form of numbers on the other hand the inferential is more of a tool to describe the relationships between the different factors. The competition has become very hard these days and the businesses strive very hard to stay on top of the market. The companies continuously collect the data to keep an eye on the actions of the competitors and the situation of the market. "Unit Introduction:

Organization Introduction

Task 1: Covers Learning Outcome 1

LO1: Evaluate business and economic data/information obtained from published sources. (M1)

1.1. Key Characteristics of statistics

1.2. Benefits of Statistics:

1.3. Business applications of Statistics

1.4. Sources and types of data and information

1.5. Deductive and Inductive Approaches

1.6. Different methods of Data Analysis

1.7. Examples of analysis of given sample sets of data that could be used by the organization

1.8. Types of Sampling Techniques

1.9. Data Collection Plan

2.1.1 STUDY COURSE AND METRHODS

Research objective

Research methodology

2. Descriptive and Inferential Statistics

Task 3: Covers Learning Outcome 3

LO3: Apply statistical methods in business planning

Supply chain Management success stories of McDonald

Statistical methods used by McDonald to improve quality

Control Charts

Statistical methods used for Capacity Management

Statistical methods used for Inventory Management

Stock control Charts

Closing Remarks

Conclusions

References

Appendix"

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