Regression analysis is perhaps the single most important business statistics tool used in the industry regression is the engine behind a multitude of data analytics applications used for many forms of forecasting and prediction this is the fourth course in the specialization business statistics and analysis. Interpretation of key statistics is essential to decision making decision making statistical analysis allows businesses to measure the performance of a business and identify trends this allows managers to make sound judgments knowing their decisions are based on data and not on assumptions. Statistics provide managers and teams with the details and data necessary to make smarter decisions for the future of a company data lets an enterprise focus on the big picture back judgments . Decision making under risk is presented in the context of decision analysis using different decision criteria for public and private decisions based on decision criteria lapin l statistics for modern business decisions harcourt brace jovanovich 1987 lindley d making decisions wiley 1991. What is statistical analysis its 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 for
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