Business Statistics Importance Quiz

They solely focus on past performance data.

They provide descriptive data about employee preferences.

They help in forecasting and improving business strategies. (correct)

They eliminate the need for qualitative analysis.

It replaces the need for market research.

It allows for subjective decision-making.

It supports evidence-based decisions to minimize risks. (correct)

It guarantees a profitable outcome every time.

Inferential statistics. (correct)

Historical data review.

Qualitative judgment.

Descriptive analysis only.

<p>Larger samples increase the reliability of results.</p> Signup and view all the answers

<p>Sample bias during selection.</p> Signup and view all the answers