Write a 3 pages paper on connection project. Most significantly, they identified statistical measures such as the standard deviation, coefficient and correlation (Nelson, 2000). The importance of info

Write a 3 pages paper on connection project. Most significantly, they identified statistical measures such as the standard deviation, coefficient and correlation (Nelson, 2000). The importance of information gathering and analysis in the 21st Century is a constant requirement for individuals, institutions and governments. Present day society is faced with endless and varied uncertainties concerning the future. The availability of-and access to accurately-synthesized information, therefore, helps in making informed predictions about the future, in planning and provides a basis for assessing performance over a forecasted period. The application of statistics has been embraced globally (most importantly) due its ability to fit into all fields of human interest. This has turned statistics into an inter-disciplinary subject (Pangano, 2008). Discussion The applicability of statistics is derived from the core process of data mining. The process of acquiring raw data is the first step towards making relevant statistical inferences and applications designed to assist in solving real world problems faced by both individuals and organizations. The extent to which applications can be made is only limited by the researcher’s definition of the problem statement and the methodology employed for data mining. This means that the statistical inference is legitimized by the problem being investigated and the set procedures for collecting and analyzing information concerning the problem (McPherson, 2011). Essentially, one can perhaps rightly argue that the choice of policy, strategy or decision undertaken was decided upon by the intrinsic nature of the problem thereby challenging the traditional view of managerial competency as the primary factor in decision making. Statistics becomes exceedingly essential in qualitative thinking. It identifies the type of problem facing individuals or institutions, defines the problem, assesses it and relates it to the final set of alternative courses of actions available in remedy to the problem (Nelson, 2000). It provides a logical approach to problem solving thereby enriching the ability of individuals and organizations alike to make near accurate forecasts for the future now. Statistics becomes a tool for identifying and successfully effecting change within organizations by minimizing the variations between expected and actual results. With regard to applications by individuals, statistics can be used in enriching financing decisions. An investor wishing to invest his savings will rely heavily on quantitative statistics to identify investment alternatives that provide satisfactory returns to his investment at minimal risk exposures (McPherson, 2011). Quantitative statistics, therefore, assists in creating a benchmark portfolio for investment by identifying the set of securities that the investor will hold. The performance of the securities and the portfolio managers can be accurately assessed at different points in time to make relevant adjustments. Statistics can be used by graduates in deciding as between employers and versus self employment. The career path of an individual within an organization can be assessed using industry aggregates on salary packages, determining future growth and development opportunities within the firm (promotions and training) and in formulating personal targets.

Show more

Calculate Your Essay Price
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Order your essay today and save 10% with the coupon code: best10

Academic Pros