How a business functions depends upon its decisions. The decisions which a business makes depend upon the market analysis. Market analysis is based upon the tools of business statistics. Every student of business statistics course has to be efficient to use the statistical tools in order to attempt business statistics assignments successfully. business statistics assignment writing help can also found at BookMyEssay. Business stats provide analytical tools on the basis of information is gathered and delivered to the management for making future goals and strategies. It helps in the development of marketing policies, pricing policies and operational policies. The assignments related to business statistics need answers to some of the basic questions. These basic questions are the essence of the business statistics. Some of the questions are discussed below:
Q1. What can be the indicators of state and balance of the market?
Ans. There are various indicators of state and balance of the market which affect the development of the organization externally. These indicators may be the product offer, customer demand, capacity, market structure, market saturation etc.
Q2. What can be the indicators of circulation of commodity and service sales?
Ans. The various indicators which indicate commodity circulation and sale of service are turnover of goods and sales of services, structure of turnover, per capita commodity turnover, commodity stocks and goods turnover etc.
Q3. What can be the indicators of prices of goods and services?
Ans. The indicators for prices of goods and services are level of prices, the structure of price, purchasing power of the concerned currency and the monetary income of the population.
Q4. What are the methods of classification of information used by Business Statistics?
Ans. There are various methods used for classification of information by Business Statistics. These are:
- By the use of accounting information which indicates the resources, goods, products and services.
- By the control of planning, accounting, analyzing of all procedures.
- By relating to the management processes like information and communication.
- By relating to the primary and secondary stages of education needed in the business statistics.
- By analyzing the stability of the business.
- By the degree of completeness of data coverage whether it is sufficient, inadequate or excessive.
Q5. What can be the indicators of infrastructure?
Ans. The various indicators of infrastructure are fixed assets, size and composition of the company, carrying capacity of the company, technical equipments, number of workforce, raw materials etc.
Q6. What are the indicators of economic and social of business activities?
Ans. The indicators are income, profit, profitability, cost of circulation and production, labor costs and their compensation, consumer satisfaction and taxation.
Q7. What can be the methods of organization statistics?
Ans. These are the methods based on mathematical statistics. A set of methods and techniques are developed by using mathematical statistics, industry statistics and general statistics theory. These methods include observation statistics, grouping of related values and the variations; mean values, dynamic indicators etc.
Q8. What can be the tasks of organization statistics?
Ans. There are various tasks such as:
- Collection and processing of information related to the development of the organization.
- Study of the volume and structure of various performance indicators of the organization.
- Study of market relations between different organizations.
- Study of the development of infrastructure of the organization.
- Study of the development of socio-economic efficiency of the organization.
- Study of trade and commercial values of the organization.
- Study of business activities of the organization such as sale and purchase of goods and commodities on the basis of the seller attached to the company, the resellers of the company, the consumers of the company’s products etc.
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