Explain the use of averages in statistics What is a probability Explain. Explain the rules of probability

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Quantitative Techniques for Business Analysis

1.      If statistics are important to us in our individual lives, how much more important must they be in the industry and in government, where enormous projects have to be undertaken, affecting the interests of great companies and entire nations. Explain.
2.      What are the advantages and disadvantages of primary and secondary data? Explain.
3.      Give an account of rules to be followed for collection of data? Give examples.
4.      Explain the use of averages in statistics.
5.      What is a probability? Explain.
6.     Explain the rules of probability.

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