Introduction
Chapter 2 introduces the idea that business statistics should be extrapolated to practical
outcomes wherever possible, especially in the business context. Typically, extrapolation
means that you take the results of a statistical analysis, combine the statistical
results with other information like financial data, and consider further implications
of your statistics that are not immediately apparent in the initial analyses.
Because this is a business book first and foremost, I concentrate on extrapolation
of statistical measurements to financial profitability. While there are many things to which you could extrapolate, financial values are one of the most valuable in the business context. No matter what you are measuring – operational ...
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