Business report of statistics

The purpose of this business report is to permit you to show what you have learned in the course about statistics, in particular what you have learned about correlation and regression, and what should be included in a practical business report using statistical analyses.

Business Feasibility

  • Pick a product that you thought did not have a feasible business idea but has proven to be successful or somewhat successful. Then, speculate what the entrepreneur and his or her team discussed during a feasibility conversation.
  • Using the same product you used in the above discussion, create a SWOT analysis for this idea using at least one (1) high and one (1) low variable in each of the SWOT categories. Then, evaluate how each of these elements will impact decision making in the business.

Just answer the question

Detail, with very specific examples of each item, the meaning of the following concepts related to statistical data gathering: Be sure that the concept is first defined, IN YOUR OWN WORDS, and that you use a concrete example (including visual examples) to illustrate your understanding of the statistical concept: Treatment Group; Control Group; Summary Statistic; Numerical Variable; Discrete Variable; Continuous Variable; Ordinal Variable; Nominal Variable; Dependent Variable; Independent Variable; Population; Sample; Simple Random Sample; Stratified Sample;Representative Sample; Convenience Sample; Observational Study; Cohort; Placebo; Prospective Study; Retrospective Study; Cluster; Control Group; Mean; Median; Mode; Histogram; Outlier; Pie Chart;