Several researchers treat statistics as a tool only

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Several researchers treat ‘statistics’ as a tool only to represent their research findings in the form of tables and graphs. This is a convention approach and commonly found with administrators to display numerical facts of their organization. But statistics has something more than this. It is an inferential science. It is a science of decision-making which helps to find out the truth from the available figures (data). It is the only way out to take decision in the face of uncertainty. Many advanced statistical methods can be applied to various types of data with the help of user-friendly software. The researcher has only to load them in the computer and selectively apply the suitable tool for a given situation. Some of the popular statistical software packages are SPSS, SAS, SX, MINITAB, etc. Population mathematical software like MATLAB also support statistical analysis to some extent.
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242 24.2. OBJECTIVES To develop the competence of researcher in the use of basis statistical technique with the help of commonly available software, such as Fox-Pro and MS-Excel. To identify the tools of statistical analysis with help of MS-Excel. To present the outline of SPSS and its use in Advanced Statistical Analysis. 24.3. CONTENTS 24.3.1. Need for Statistics 24.3.2. Common Statistical Issues in Research 27.3.3. Role of Computer in Statistical Analysis 24.3.4. Data Handling and Statistics through MS-Access 24.3.5. Microsoft Excel Overview 24.3.6. Data Handling in Excel 24.3.7. Descriptive Statistics Using Excel 24.3.8. Inferential Statistics Using Excel 24.3.9. Some Tests for Comparison of Means 24.3.10. Trent Analysis and Related Tools in Excel 24.3.11. Data Analysis Using Crystal Reports 24.3.12. Statistical Analysis with SPSS 24.3.13. SPSS Overview 24.3.14. Minitab Overview 24.3.1. NEED FOR STATISTICS In general, business manageresses need to be knowledgeable about statistics in order to understand how to do the following: Properly present and describe information Draw conclusion about large population bases only on information obtained from samples Improve processes Obtain reliable forecasts Statistical methods are commonly used in the functional areas of business including accounting, finance, management, and marketing. Accounting uses statistical methods to select samples for auditing purposes and to understand the cost drivers in cost accounting. Finance uses statistical methods to choose between alternative portfolio investments and to track trends in financial manufactured or the services delivered by an organization. Marketing uses statistical methods to estimate the proportion of customers who prefer one product over another and why they do, and to draw conclusion about what advertising strategy might be most useful in increasing sales of a product.
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