Statistics in Business Statistics can be defined as the way to get information from numerical data, numbers are everywhere, we use them provide logic about the past present and the future. Statistics assist in decision making in business and everyday life. In order for statistics to help us we must obtain then knowledge to collect, present, analyze, organize, and transform data. Statistics are a collection of numerical data (Lind, Marchal, & Wathen, 2011, p. 4). Statistics presented in various forms have different meanings and how it is used. There are two different types of statistics, inferential and descriptive, inferential statistics purpose relies on testing hypothesis based on a sample of the population. Inferential statistics takes a representative sample and implies reasoning. Descriptive statistics also relies on a sample size, however uses charts and tables to summarize data and develop draw conclusions and present them like bullets on a power point. Furthermore, descriptive statistics involves measurer and averages and presents data in a fancy way. Levels of statistics refer to nominal, ordinal, interval, and, ratio. Nominal measurement is simplistic in this level of measurement names, colors and labels. Ordinal level of measurement based on ratings no exact figures or measurement can be solved. Interval level of measurement is exactly that a level of measure, scale, or interval. Ratio level of measurement represents formatted data portraying interval level of measurement with the addition of zero forming ratios. The role of statistics in business decision making reduces the risk of uncertainty, numerical data provide businesses with the tools they need to implement short and long term initiatives. Statistics in business reveal what a companies doing right and wrong (McClave, Benson, & Sincich, 2011).

One situation where statistics could be