chap01-a - Statistics: Chapter 1 The Where, Why, and How of...

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Chap 1-1 Statistics: Chapter 1 The Where, Why, and How of Data Collection
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Chap 1-2 Chapter Goals After completing this chapter, you should be able to: Describe key data collection methods Know key definitions: Population vs. Sample Primary vs. Secondary data types Qualitative vs. Qualitative data Time Series vs. Cross-Sectional data Explain the difference between descriptive and inferential statistics Describe different sampling methods
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Chap 1-3 Descriptive statistics Collecting, presenting, and describing data Inferential statistics Drawing conclusions and/or making decisions concerning a population based only on sample data Probability Chance that a particular even will occur Tools of Business Statistics
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Chap 1-4 Descriptive Statistics Collect data e.g., Survey, Observation, Experiments Present data e.g., Charts and graphs Characterize data e.g., Sample mean = n x i
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Chap 1-5 Making statements about a population by examining sample results Sample statistics Population parameters (known) Inference (unknown, but can be estimated from sample evidence) Sample Population Inferential Statistics
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Chap 1-6 Inferential Statistics Estimation e.g., Estimate the population mean weight using the sample mean weight Hypothesis Testing e.g., Use sample evidence to test the claim that the population mean weight is 120 pounds Drawing conclusions and/or making decisions concerning a population based on sample results.
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Chap 1-7 Tools for Collecting Data Data Collection Methods Written questionnaires Experiments Telephone surveys Direct observation and personal interview
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chap01-a - Statistics: Chapter 1 The Where, Why, and How of...

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