The Role of Statistics   Term Paper ID:33961 Click to get this paper

Essay Subject: This essay answers these questions What is the role of statistics in business research ...... More...

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Paper Abstract: This essay esamines several areas in which statistics are used in business: the role of statistics in business research; the relationship of statistics and Human Resources, and what types of research are used. Paper Introduction: Statistics in Business Introduction There are a number of areas in business in whichstatistics are used One such area is in quality control Companiesseeking to reduce defects and rework can use statistics to determine whentheir production process is beginning to fall outside of acceptabletolerances This data can be used to make any necessary adjustments beforeitems produced must be rejected Another area in which statistics isfrequently used in business is in the accounting function For example companies often prepare reports in which analysis Text of the Paper: The entire text of the paper is shown below. However, the text is somewhat scrambled. We want to give you as much information as we possibly can about our papers and essays, but we cannot give them away for free. In the text below you will find that while disordered, many of the phrases are essentially intact. From this text you will be able to get a solid sense of the writing style, the concepts addressed, and the sources used in the research paper. Thelarger the sample size, the smaller the probability of error. (1997). Statistical analysis is often used in the production process in theform of statistical process control. Instead, auditors determine asample size from the population of total transactions and audit theseselected transactions as a way to determine or measure the accuracy of acompany's books and records and the resulting financial statements. Employers use statisticalanalysis to try to ensure that their employment related decisions do notresult in disparate impact (Deblieux, 1997). Statistics in Business Introduction: There are a number of areas in business in whichstatistics are used. Companiesseeking to reduce defects and rework can use statistics to determine whentheir production process is beginning to fall outside of acceptabletolerances. Instead, employees use other methodsincluding statistical analysis to try to prove that an employer utilizedemployment practices that are facially neutral in their treatment ofprotected groups but in fact fall more harshly on one group than anotherand cannot be justified by business necessity. In a disparate impact claim, workers do not need toprove of intentional discrimination. For example, this analysis is used to determine how many itemsin a lot of raw material should be examined to determine if the rawmaterials are within acceptable tolerances. Internal and outside auditorsdo not examine every accounting transaction. There are various waysin which statistics are used in the Human Resources function. Statistical techniques are used todetermine the sample size for analysis of variance of work in process, aswell as in finished goods inventory. This data can be used to make any necessary adjustments beforeitems produced must be rejected. For example,companies often prepare reports in which analysis between actual andexpected performance, or budgeted and actual revenues or profits isanalyzed and reported using statistical analysis. For example,in preparing a report on the company's success in achieving targetsrelating to equal employment opportunity, statistics about the age, race,and gender of employees are gathered and analyzed to determine if overalltargets have been met, as well as where targets have equal employmenttargets have either been exceeded or have fallen short. Ina disparate treatment claim, worker seeks to prove the employer'sdiscriminatory motive. In the Human Resources function, statistical analysis can and shouldbe used to make determinations about whether a company is discriminatingagainst a protected class. West Des Moines, IA: American Media Publishing. Statistical tools are also used inother ways. In this area, there are two forms of employmentdiscrimination referred to as disparate impact and disparate treatment. Statistical analysis is used by the accounting department in businessin a variety of ways. ReferencesDeblieux, M. Legal Issues for Managers. One such area is in quality control. One of the most common is the use of statisticalanalysis and sampling in the audit process. Another area in which statistics isfrequently used in business is in the accounting function. 1st ed. If this paper is not what you are looking for, you can search again: Search for: or Click here to request an essay written just for you.

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