Mean, Mode, and Median

Does all statistical data have a mean, median, or mode? Why? When is the mean the best measure of central tendency? When is the median the best measure of central tendency? The mean is an average of a set of data and in order to find the mean you would simply add the numbers together … Continue reading Mean, Mode, and Median →

Forecasting

Introduction In researching forecasting within a business some of the information has proven to be very helpful in determining what the future holds for the business or company. Some of the concepts this paper will cover has to deal with indexes and the different types of indexes that are involved with any type of business. … Continue reading Forecasting →

Frequency Distribution

What is the purpose of developing a frequency distribution? What is the relationship between the relative frequency and the cumulative frequency? Could a frequency distribution contain qualitative data? Why? In thinking about frequency distribution which, shows various data that is divided into different classes within a business. It also divides the occurrences in each of … Continue reading Frequency Distribution →