Usage of Different Statistical Methods on a Single Data and its Implications on Managerial Decision Making

Abstract

Application of statistical tools in research has assumed significant dimensions in recent times especially in marketing research. This is mainly because of the availabity of statistical software packages like SYSTAT, SPSS, MATLAB, and LISREL etc. The sponser of the research depends on the outcome of the research to arrive at several decisions, which may be critical to the company's financial performance. Hence it becomes obvious that the research agency should take all care in interpreting the statistical outputs. There may be several application tools to analyze and interpret the collected data. The results may vary depending on the tools used and interpretations of outputs. The decisions based on these findings may ultimately affect the performance of the companies.This research is an attempt to understand these aspects of statistical applications. The researchers have used forward and backward multiple regressions on the single data to find out the variations in the interpretations of the outputs.