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Presentation Slides & Transcript
Statistics is the science of
collecting,
organizing,
presenting,
analyzing, and interpreting (numerical) data to assist in making more effective decisions.
2 types of statistics
Descriptive
2. Inferential
Population versus sample
Population
The Entire Group
Census
data from entire population
Sample
Data from part of the Population
Parameter
Summary about Population
Statistic
Summary of a Sample
Sources of Data
1. Primary Data
2. Secondary Data
Data in business
1. reported
2. from questions
Types of Data
1. Cross-Sectional Data
Data Not Reported Over Time
2. Time-Series Data (Longitudinal Data)
Data Over a Period of Time
Types of variables
1. Qualitative
categorical
2. Quantitative
numerical
Mutually exclusive: An individual or object is included in only one category.
Exhaustive: Each individual or object must appear in one of the categories.
4 Levels of Data Measurement
1) Nominal
Categorical
2) Ordinal
Numbers indicate rank or order
3) Interval Scale
Numerical
No True 0
4) Ratio Scale
Same as Interval
But Also Have True 0
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By rainseraphim
Published Jan 3, 2013