Question

Role of statistics in business decision making

Answer 1

Answer:

here's the answer

business statistics helps in the

• deal with uncertainties by forcasting seasonal,cyclic and general economic fluctuations
• helps in sound decision making by providing accurate estimate
• helps In business planning on the basis of sound predictions

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Answer 2

Answer -

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• Statistical research in business enables managers to analyze past performance, predict future business practices and lead organizations effectively. Statistics can describe markets, inform advertising, set prices and respond to changes in consumer demand.

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