Unit 6: Business Decision Making
Techniques to analyse data
Apply a range of techniques to analyse data effectively for business purposes
Representative values: mean, median, mode, calculation from raw data and frequency distributions and using the results to draw valid conclusions
Measures of dispersion: maximum, minimum, standard deviation for small and large samples; typical uses — statistical process eg control, buffer stock levels
Calculation: use of quartiles, percentiles, correlation coefficient
Suggested Reading
Quantitative Methods: A Business Perspective
Quantitative Methods for Business Decisions
Management Information Systems
Quantitative Methods for Business
