statistics week 1

• Essay
• 6
• 100% (2) 2 out of 2 people found this document helpful

This preview shows pages 1–3. Sign up to view the full content.

This preview has intentionally blurred sections. Sign up to view the full version.

Running Head: Statistics in Business Page 2 Statistics According to Chapter 1 of Introductory to Statistics, “The word statistics has two meanings. In the more common usage, statistics refers to numerical facts. The numbers that represent the in- come of a family, the age of a student, the percentage of passes completed by the quarterback of a football team, and the starting salary of a typical college graduate are examples of statistics in this sense of the word.” A lot of people confuse statistics, and probability, because though they have things in common there are a lot of differences between the two. “Probability deals with predicting the likelihood of future events, while statistics involves the analysis of the frequency of past events. Probability is primarily a theoretical branch of mathematics, which studies the consequences of mathematical definitions. Statistics is primarily an applied branch of mathemat- ics, which tries to make sense of observations in the real world.” (“Stonybrook” 2016) Quantitative data & Qualitative data There are two kinds of data in statistics, there is quantitative and qualitative date. According to Chapter 1 of Introductory to Statistics “A variable that can be measured numerically is called a quantitative variable. The data collected on a quantitative variable are called quantitative data”.
This is the end of the preview. Sign up to access the rest of the document.
• Summer '16
• Statistics, Level of measurement, Sarah Bellin

{[ snackBarMessage ]}

### What students are saying

• As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

Kiran Temple University Fox School of Business ‘17, Course Hero Intern

• I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

Dana University of Pennsylvania ‘17, Course Hero Intern

• The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

Jill Tulane University ‘16, Course Hero Intern