Emphasizes the business use of statistics, showing how appropriate statistics give a more accurate, more comprehensive picture of business growth and trends.
This clip examines how the mean, median and mode can each tell a different story about the same set of data. As an example, the clip looks at the number of newspapers sold at a convenience store on seven consecutive days, and asks whether the mean, ...
This clip introduces and defines the terms "mean," "median" and "mode."
This clip explains that many real-life applications of statistics use very large data sets. "Since there are so many values," the clip states, "
and some of the values appear more than once, we'll group the data in a table." The clip concludes by n...
This clip presents two examples showing how data can be skewed by advocates looking to make a particular point, simply by choosing to use (or not use) the mean, median or mode in analyzing a data set.
This clip explains the difference between primary and secondary data, noting that each can be valuable in its own way for the entrepreneur seeking to gauge the prospects for success.