Chapter 1.docx - Chapter1Statistics ChapterSummary I...

This preview shows page 1 - 2 out of 6 pages.

Chapter 1 Statistics Chapter Summary I. Statistics is the science of collecting, organising, presenting, analysing, and interpreting data to assist in making more effective decisions. II. There are two types of statistics. A. Descriptive statistics are procedures used to organise and summarise data. B. Inferential statistics involve taking a sample from a population and making estimates about  a population based on the sample results. 1. A population is an entire set of individuals or objects of interest or the measurements  obtained from all individuals or objects of interest. 2. A sample is a part of the population. III. There are two types of variables. A. A qualitative variable is nonnumeric. 1. Usually we are interested in the number or percent of the observations in each cate- gory. 2. Qualitative data are usually summarised in graphs and bar charts. B. There are two types of quantitative variables and they are usually reported numerically. 1. Discrete variables can assume only certain values, and there are usually gaps between  values. 2. A continuous variable can assume any value within a specified range. IV. There are four levels of measurement. A. With the nominal level, the data are sorted into categories with no particular order to the  categories. B. The ordinal level of measurement presumes that one classification is ranked higher than  another. C. The interval level of measurement has the ranking characteristic of the ordinal level of mea- surement plus the characteristic that the distance between values is a constant size. D. The ratio level of measurement has all the characteristics of the interval level, plus there is  a 0 point and the ratio of two values is meaningful.
Image of page 1

Subscribe to view the full document.

Image of page 2
  • Summer '15

{[ snackBarMessage ]}

Get FREE access by uploading your study materials

Upload your study materials now and get free access to over 25 million documents.

Upload now for FREE access Or pay now for instant access
Christopher Reinemann
"Before using Course Hero my grade was at 78%. By the end of the semester my grade was at 90%. I could not have done it without all the class material I found."
— Christopher R., University of Rhode Island '15, Course Hero Intern

Ask a question for free

What students are saying

  • Left Quote Icon

    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.

    Student Picture

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

  • Left Quote Icon

    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.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    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.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern