Economic Statistics Essay

7121 Words May 3rd, 2013 29 Pages
CRAM Exclusive
Essay Sample
Introduction The current state of the world economy is quite uncertain. Economic statistics that governments and other financial institutions use to project the economy imply that the world economy is shrinking. Since 2008, the state of the American economy has not been attractive. For instance, the United States economy has not registered any significant growth for the last three years. The 2011 second quarter results indicated that gross domestic product improved by 1%. At the same time

middle of document…

Equally, a large number argued that their states' economies had enriched as September 2008; though only to 26%, from 20%. More executed 42% the account "battered but resilient" for the universal budget than any other. Yet their other reactions designated how they regarded the frugality as low enough to thwart an extensive economic recovery from arriving anytime rapidly (World Economical Organization, 2003).

Additionally, this survey requested managers’ opinions about their corporations’ reactions to the predicament and whether it had been effective and continue to the next year. The new activities the companies would assume in the contemporary commercial setting were also emphasized. Although 57% of the proprietors in a previous analysis alleged their administrations' global response to the catastrophe had simplified their firms; plaintiffs to this survey are more cynical about the precise movements their corporations have taken. Price reduction as well as overhaul is assumed to be the best and operational method that facilitates companies whenever it is in a predicament. Several companies have become proficient and a sturdy majority of the initiatives concentrate their operative charges since that time of diverse change. Many respondents argue that applying the method is a functional way that contributes to their firms in all catastrophes. Nevertheless, fewer corporations have gained aptitude that in some cases is never available.

CRAM Exclusive

Related Documents

  • Essay on Applied Statistics in Business and Economics Ch 1

    statistical software is widely available.  FALSE 21. Statistics helps surmount language barriers to solve problems in multinational businesses.  TRUE 22. Statistics can help you handle either too little or too much information.  TRUE 23. Predicting a presidential candidate's percent of the statewide vote from a sample of 800 voters would be an example of inferential statistics.   TRUE 24. An example of descriptive statistics would be reporting the percent of students in your accounting

    Words: 959 - Pages: 4
  • Statistics for Business and Economics Essay

    THREATS  * Extremely high competition because there are so many resorts in the Bahamas, and most of them are constantly revamping pricingstrategies.* Customer service and reliability issues are becoming strong considerations inresort-choosingbehavior.* Name brand loyalty is very rare in this market, and customers react to price first and then perceived quality.* Difficult to estimate the consumer's taste and opinion levels.* Potential drain on profits coming from reacting too quickly in a market

    Words: 2047 - Pages: 9
  • Statistics Essay

    Most often, statistics are obtained by taking a sample from a larger group and assuming the whole group has the same characteristics as the sample. More than this, statistics are usually in the form of ranking, since it is surprisingly based on comparisons with other quantities rather than specifying specific amounts, there are special problems, which are need to be aware of. Part of the problem with ranking is that it does not tell much about the actual amount involved, which can easily to get confused

    Words: 1063 - Pages: 5
  • Statistics Essay

    for every level of education. 2.2 The alternative hypothesis H1 is μ1 ≠ μ2 or μ2 ≠ μ3 or μ1 ≠ μ3 (at least one μ is different from another μ) 2.3. In order to test the above pair of hypotheses, I will use ANOVA analysis that provides the F statistic significance test: H0: FF critical H0 is rejected The following table contains the results of the ANOVA analysis: Anova: Single Factor SUMMARY Groups Count Sum Average Variance PRIMARY

    Words: 1147 - Pages: 5
  • Statistics Essays

    calculation. The correlation coefficient between poverty and URB = CORREL (C2:C59; G2:G59)= -0.0397(4 decimal places), see appendix. The correlation coefficient of -0.0397 means a slightly negative linear relationship between poverty and URB. The t statistics = -0.0397*SQRT ((58-2)/(1-(-0.0397)^2))= -0.297467. If try the significant level of 10% again, the t-crit (0.05, 58-2)= 1.672522, t-stat is still within the critical value. Hence, the null hypothesis for URB cannot be rejected, it is concluded that

    Words: 1660 - Pages: 7
  • Descriptive and Inferential Statistics Essay

    original students was given, so the analyzer can take the sampled information of the 400 European students and compare and contrast the data of the 400 American students in which the descriptive statistical data was taken . The analyzers inferential statistics will ascend through credible sampling which on occasion, may sustain sampling error. Therefore the analyzer must estimate each parameter and test his or her statistical hypotheses to create a credible conclusion which will more likely stand as the

    Words: 714 - Pages: 3
  • Statistics Anova Testing Essay

    different groups with respect to their pulse rate Alternative hypothesis: H1: At least on i j, for i = j = 1, 2, 3 and i j That is, at least one of the mean score significantly differ from other Level of significance: Let = 0.05 Test Statistic: Under standard notations, we have F =, In order to test whether the three means of independent samples are equal, a one way ANOVA is carried out using Excel tool (Data Data analysis Single factor ANOVA Ok) and the corresponding output

    Words: 1182 - Pages: 5
  • Statistics Essay example

    the web sites. • Study and practice solving problems before taking quizzes and exams. • Spend 15 hours each week. 8 Business Statistics π ∑θ 1. 2. 3. 4. 5. Week 1 objectives Course overview Introduction History Meanings of Statistics Applications 9 Business Statistics π ∑θ • • • • • • • • • • • • Course Outline Introduction to Statistics Data Analysis Frequency distribution Measures of Central tendency and Dispersion Variability Moments Skewness Simple Linear regression

    Words: 866 - Pages: 4
  • Summary of Statistic Analysis Essay

    association between the two values of related variables given in the data set. Regression Regression is two variables are significantly correlated it is possible to predict values of one variable from the other It is specially used in business and economics to study the relationship between two or more variables that are related causally and for the estimation of demand and supply graphs, cost functions, production and consumption functions and so on. If we have two sets as X & Y We can predict the

    Words: 609 - Pages: 3
  • Essay on Baseball and Statistics

    knowledge he created the predecessors to modern day statistics which included batting average, runs scored, and runs allowed. These few simple statistics have grown into a massive list of basic and advanced statistics; however it is the traditional statistics that are the most familiar to many baseball fans. These statistics can be broken down into four categories such as batting, base running, pitching, and fielding. Some of the traditional batting statistics include: At bats – equals the number of plate

    Words: 1405 - Pages: 6