by rainseraphim

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Statistics Chapter 1

Published Jan 3, 2013 in Business & Management
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Presentation Slides & Transcript

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