Application of Statistics in Business Video

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

How are descriptive statistics used?

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1. What is a tool used in Six Sigma that graphs process changes over time?

2. Why would a statistical model be used?

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About This Quiz & Worksheet

Statistics provide businesses with a quantifiable way to measure success, so understanding how statistical measures are used is essential. In this quiz, you'll answer questions about types of statistics and tools used to measure outcomes.

Quiz & Worksheet Goals

With this quiz/worksheet, you'll assess your knowledge of:

  • Descriptive statistics
  • Six Sigma and tools
  • Statistical models
  • Probability

Skills Practiced

This quiz allows you to practice the following skills:

  • Critical thinking - apply relevant concepts to examine information about the use of statistical models in a different light
  • Defining key concepts - ensure that you can accurately define main phrases, such as Six Sigma and descriptive statistics
  • Information recall - access the knowledge you've gained regarding tools used in Six Sigma

Additional Learning

For more information about stats used in the business world, review the accompanying lesson called Application of Statistics in Business. You'll examine:

  • Inferential and descriptive statistics
  • Mean, median and mode
  • Ratios
  • Statistical models and probability
  • Just-in-time inventory
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