statistical problem

Definition

A problem that is dissected and carried out by first gathering facts and data analysis related to the process as a whole. The statistical problem often includes issues of probability, sampling, estimation and inferential statistics, enabling a team to develop the most effective project map within a problem-solving framework. For example, a manufacturer who produces cars and is looking to paint those cars may consult a wide range of individuals, including painters, supervisors, paint representatives or similar experts to gather all the information necessary for the process to be successful.

Related Videos




http://www.businessdictionary.com/definition/statistical-problem.html

Today's Top Bulls

73% Bullish
(37 Votes)
70% Bullish
(104 Votes)
68% Bullish
(76 Votes)
Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z