Interview Questions in Business Analytics

© Bhasker Gupta 2016

Bhasker Gupta, Interview Questions in Business Analytics , 10.1007/978-1-4842-0599-0_3

3. Introduction to Basic Statistics

Bhasker Gupta¹ 

(1)Bangalore, Karnataka, India

Statistics is an amalgamation of both science and art. It is built around the rules of applied mathematics, which is the science part. For quantitative research, it requires rigorous statistical analysis. Statistical calculations are performed under a set of rules, to minimize incorrect results. The art part of statistics is the judgment of the practitioner. It requires judgment and decision making in deciding how to design a problem statement and how to solve it by using data and statistics. Practitioners must decide among the various statistical techniques to ...