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18 download_doc.php - Chapter 1 I What is Statistics a...

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Chapter 1 I. What is Statistics a. definition i. The science of collecting, organizing, analyzing, interpreting, and presenting data ii. AKA data science 1. Modeling 2. Analysis 3. Decision making b. Statistic V Statistics i. Statistic 1. A single measure, reported as a number, used to summarize a sample data set II. Why study Statistics a. Communication b. Computer skills c. Information management d. Technical literacy e. Career advancement f. Quality improvement III. Uses of Statistics a. Types of Stats i. Descriptive Stats 1. Collection, organization, presentation, and summary of data
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ii. Inferential Statistics 1. Refers to generalizing from a sample to a population 2. Making inferences and guesses 3. Drawing conclusions and making decisions b. Ways Stats are used in businesses i. Auditing, marketing, health care, quality control, purchasing, forecasting, product warranty IV.Statistical Challenges a. Working with imperfect Data i. Use critical analysis, have courage to say no useful answer can emerge
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18 download_doc.php - Chapter 1 I What is Statistics a...

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