usiness statistics takes the data analysis tools from elementary statistics and applies them to business. For example, estimating the probability of a defect coming off a factory line, or seeing where sales are headed in the future. Many of the tools used in business statistics are built on ones you’ve probably already come across in basic math: mean, mode and median, bar graphs and the bell curve, and basic probability. Hypothesis testing (where you test out an idea) and regression analysis (fitting data to an equation) builds on this foundation.