Problem Solution: US World Bank The United World Bank (UWB) has been successful in numerous global ventures, but needs to develop profitable new products to expand share of the market. Some form of descriptive statistics is necessary for them to successfully organize, accurately summarize, and present correct data to board members. This paper will describe how UWB can use research and statistical concepts to help frame the right problem, define end-state objectives, identity alternatives and potential risks, and make the best business decision by implementing appropriate solutions. The first step in accomplishing this task is to understand the situation at the UWB. Descriptive statistics are “methods for organizing, summarizing, and presenting data in an informative manner” (Lind, Marchal & Wathen, 2004). Descriptive statistics are sometimes considered basic statistics because they tend to be used by managers to display very obvious data in front of them and lay the foundation for decision making. Situation Analysis Identifying Problems and Opportunities One of the major issues that UWB is facing is the method used to select a research company to conduct an analysis for UWB. Mary is known to not always be thorough in her research evaluation of the companies she hires. This could be a big problem in the future as many decisions are based on research findings and reports. Mary did not analyze the results and simply took Best Market Research's word for it. Good research generates reliable data, derived from professionally conducted practices, and which can be reliably used for managerial decision making (Cooper & Schindler, 2003, ch. 1). The US World Bank reflects an inadequate research plan because the plan was published carelessly...... center of paper ......tion of resultsThe results will be evaluated and measured using a weighted system using a scale from one to five to identify the results. UWB's goals are to gain board member approval for their potential product, launch at least one product in the next three months, increase profitability by 40% in the next two years, increase customer base by 15% in the next two years and launch a team that will be responsible for product research and development by the end of this year. ConclusionIf UWB frames the right problem, benchmarks other companies, builds a product research and development team, and develops possible alternatives, success will be achieved. UWB will be able to solve its current problems by hiring an internal statistician who will help conduct accurate research to choose the best product for the company.