Business Statistics Calculator-AI Business Statistics Calculator

Example

Calculating measures of central tendency (mean, median, mode) and dispersion (range, variance, standard deviation) for sales data.

Scenario

A retail store manager wants to summarize the monthly sales data to understand average sales, identify the most common sales figure, and measure the variability in sales performance.

Example

Performing t-tests and chi-square tests to determine if there is a significant difference between groups or relationships between categorical variables.

Scenario

A marketing analyst wants to test if a new advertising campaign leads to higher sales compared to the previous campaign. The t-test can compare sales figures before and after the campaign to determine statistical significance.

Example

Conducting simple and multiple linear regressions to model the relationship between a dependent variable and one or more independent variables.

Scenario

A financial analyst aims to predict future revenue based on factors such as marketing spend, economic indicators, and competitor pricing. Multiple regression analysis helps in identifying the most significant predictors and their impact on revenue.