Question

Business managers also need statistics for planning as _______________.

• A. decisions can not be made on trial basis
• B. systematically organized data help in developing decision policies
• C. both A & B
• D. none of the above

Answer 1

Answer: (C)

both A & B

Statistics carries out analysis of past data, which allows a trend line to be constructed, and thus the company has a higher chance of success as data regarding past performance is available. The data that is collated has to be accurate and systematically organized to help in the formation of developing decision policies.