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Reflections on the Uses of Descriptive Tools in Business Statistics Essay

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Reflections on the uses of descriptive tools business statistics essay examining histograms, frequency distributions, and relative percentage graphics in data analysis. This academic paper highlights how descriptive statistics simplify complex data, visualize distributions, and address real-world challenges in business and personal contexts. A comprehensive business studies research paper and assignment example in statistics.

Reflections on the Uses of Descriptive Tools in Business Statistics Essay

Data analysis tools allow for the simplification and visualization of data. I would use a histogram to provide a simple and versatile data picture to understand a data set. I would use this descriptive tool to find process variations from the collected data. For instance, I can use a Histogram to find delays occurring in a manufacturing process by finding the frequency of delays in every manufacturing step (Hahs-Vaughn & Lomax, 2020). I can then use the data to find the most effective approach to reduce variations.

I would use a frequency table to understand a large amount of data. The reason is that this tool uses data from a population with a given characteristic and organizes it in a comprehensive way that an individual can understand. I would use this tool when working with a particular set of data. For instance, the height of male adults can be split into different categories or ranges (Salvatore, 2021). An advantage of using this tool is that it limits data from overlapping as it encompasses all data variations. Bar charts and histograms are commonly used to present frequency distribution.

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         I would use relative percentage graphics to understand a whole data set. A relative percentage graphic ensures that the total of all relative frequencies in a given data set is 1 or 100% (Salvatore, 2021). The height of the graphs represents probabilities; when represented using a histogram, the graphs tend to display a probability distribution, which is used to indicate an event taking place within a set of data or populations.

Thus, I would use these tools to clearly represent my population, which will directly allow me to address the challenge I am facing.

References

Hahs-Vaughn, D. L., & Lomax, R. G. (2020). Statistical concepts-a first course. Routledge.

Salvatore, D. (2021). Theory and problems of statistics and econometrics.

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