Statistics Summary Research Paper Example | Topics and Well Written Essays - 250 words

Statistics Summary - Research Paper Example Quantitative statistics however defines categorical measures that only identify data but does not induce a numeric value (Mann, 2010). There also exist four levels of statistics, nominal, ordinal, interval, and ratio levels. Nominal level only has identity property. Ordinal level of measurement has both identity and dimension properties, interval level identifies statistics and measures dimension with equal distance between consecutive variables while ratio level of measurement has a true zero besides properties of interval level of statistics (Babbie, 2010). The role of statistics in business decision making involve research and evaluation of data on alternatives to a problem with the aim of understanding the alternatives for informed decision (Mann, 2010). Statistics could be used to investigate effectiveness of a marketing strategy on an organization’s level of sales. Identification of significant effectiveness in a pilot study, through test of hypothesis, would suggest implementation the strategy while lack of significant effectiveness would mean that the marketing strategy would not promote sales and should not be implemented (Mann,