# IM Ch01 - 1 Chapter 1 A First Look at Statistics and Data...

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

1 Chapter 1 A First Look at Statistics and Data Collection CHAPTER OVERVIEW AND OBJECTIVES The purpose of this chapter is to establish the frame of reference for the study of statistics. It introduces the student to many of the key terms used throughout the text as well as introducing them to types of data, data sources and methods of data collection. At the completion of this chapter, the student should be able to answer the following questions: 1. What is “statistics” and why is the study of statistics important to a business manager? 2. What is a “parameter” and what makes it different from a “statistic” ? 3. What is meant by the term “descriptive statistics”? “inferential statistics”? 4. What is a population? A sample? A census? 5. What are the types of data? (discrete/continuous) 6. What are the strengths of data? (nominal, ordinal, interval, ratio) 7. What distinguishes qualitative data from quantitative data? 8. What is a judgment sample? How would such a sample be selected? 9. What is a random sample and when is it appropriate to use a convenience sample? 10. How can a set of random numbers be generated? 1

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

View Full Document
2 Instructor's Manual Chapter 1 Glossary census . A sample that contains the entire population, such as the sample obtained by performing 100% inspection of an incoming batch of material. closed ended question . A question with a pre-determined number of possible responses. continuous data . Data that can assume any value over some continuous range. convenience sample . A sample in which the individuals are selected for their ready availability and presumed resemblance to the population of interest. descriptive statistics . The process of collecting and describing sample data. discrete data . Data that have limited, specific possible values, characterized by gaps in the possible values. inferential statistics . The process of drawing conclusions about a population based on the results of a statistical sample. interval data . Data for which both the order of the data and the difference between any two data values is meaningful. However, the value 0 (zero) is not indicative of the absence of whatever is being measured; that is, there is no "zero point". judgment sample. A sample deliberately selected because of their supposed knowledge of the population. Likert scale question . A question containing scaled (ranked) responses, generally ranging from "strongly disagree" to "strongly agree." nominal data . Categorical data that may be numeric codes. This coding is not necessary, since nominal data can also consist of words (such as, MALE and FEMALE). nonrandom samples. Samples selected in a convenient or deliberate manner with little or no attention paid to randomization. open ended question
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

### Page1 / 8

IM Ch01 - 1 Chapter 1 A First Look at Statistics and Data...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document
Ask a homework question - tutors are online