Statistical Reasoning

Wienclaw, Ruth A.
April 2018
Statistical Reasoning -- Research Starters Business;4/1/2018, p1
Research Starter
Although statistical techniques can help one better interpret the multitude of data in the world around us, in the end, statistics are only tools and must be interpreted by human beings. Opportunities to misinterpret statistics abound. Without understanding the principles behind statistical methods, it is difficult to analyze data or to correctly interpret the results. Similarly, a lack of understanding regarding the ways probability works can result in poor experimental design that yields spurious results. However, understanding the principles underlying statistical methods can enable one to better apply critical thinking and statistical reasoning skills to the analysis and interpretation of data. In the business world, these tools can be used to enable managers and others to make better decisions to optimize the effectiveness and profitability of the organization.


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