statistics

statistics definition - business

statistics

The branch of mathematics that deals with the collection, organization, and evaluation of data. Statistics is useful to businesses that wish to evaluate the characteristics of various populations. For example, statistics might be used to determine what types of advertising are most effective in attracting the attention of wealthy retirees.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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