Business Decision-Making Project Part 2 Name Institution Business Decision-Making Project Part 2 According to Sekaran & Bougie (2016) both two types of descriptive statistics can be used to summarize the data on Tesla Inc. during data collection process. Two types of descriptive statistics are measures of central tendency and measures of dispersion. Examples of the steps of a central tendency there is: mean mode and median while examples of measures of dispersion include range and variance. Using sales as the research variable mode mean and range would be best for the research’s data analysis (Keller 2014). Mode would play a significant role when collecting data about the sales of the company. According to Keller mode would be useful in identifying the most marketable car model in the firm’s market (2015). It would also be applicable in getting the best market for the organization’s products. This is helpful when low. They will evaluate the time that the work began to increase and also get solutions on eliminating customer complaints. By observing time series data Tesla can address and develop according to the projected growth of the market and the impending market expansion (Brockwell & Davis 2013). Also times series will allow Tesla to be confident to deliver and continue as motor manufacturers concentrate on expanding its market and focus on building a stronger customer base (Brockwell & Davis 2013). References Brockwell P. J. & Davis R. A. (2013). Time series: theory and methods. Springer Science & Business Media. Harrell Jr F. E. (2015). Regression modeling strategies: with applications to linear models logistic and ordinal regression and survival analysis. Springer. Keller G. (2014). Statistics for management and economics. Nelson Education. Sekaran U. & Bougie R. (2016). Research methods for business: A skill building approach. John Wiley & Sons. [...]
Use the same business problem/opportunity and research variable you wrote about in Week 3. Note: Do not actually collect any data; think hypothetically. Develop a 1,050-word report in which you: •Identify which types of descriptive statistics might be best for summarizing the data, if you were to collect a sample. •Analyze which types of inferential statistics might be best for analyzing the data, if you were to collect a sample. •Analyze the role probability or trend analysis might play in helping address the business problem. •Analyze the role linear regression for trend analysis might play in helping address the business problem. •Analyze the role a time series might play in helping address the business problem. Format your assignment consistent with APA guidelines.