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	Paper on Practical Application of Statistical Concepts
	Background Statistical Concepts are used for management purposes everyday in the workplace. This paper discusses the practical application of concepts like mean, median, mode, standard deviation as well as hypotheses to making management decisions. Statistical data related to the accounts receivable department is used as an example of this application in this paper. ... Statistical analysis through the use of a median can allow management to see the true volume of workload on the daily basis and make less bias workforce management decisions. ... Statistical concepts can help do that by utilizing the data available to the organization. The key factor is to utilize this data correctly and the knowledge of the statistical concepts and tools can help ensure that. Approximate Word count = 1090 Approximate Pages = 4.4 (250 words per page double spaced)

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