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RelativeResourceManager - ECO201 Lecture1...

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ECO 201 Lecture 1 Fundamentals of Statistics
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Topics Some Important Definitions Descriptive Versus Inferential Statistics  Versus Computational Statistics Why Data Are Needed Types of Data and Their Sources Sampling Methods Types of Survey Errors
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Population and Sample Population Sample Use parameters to  summarize features Use statistics to  summarize features Inference on the population from the sample
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Some Important Definitions __________  (Universe) Is the Whole Collection  of Things Under Consideration ______  is a Portion of the Population Selected  for Analysis _________  is a Summary Measure Computed to  Describe a Characteristic of the Population A   _______  is a Summary Measure Computed to  Describe a Characteristic of the Sample ________ :  A Characteristic of an observation  (item/individual) that will be analyzed
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The Branches of Statistics Descriptive Statistics Collecting and describing data __________ Statistics Drawing conclusions and/or making decisions  concerning a population based only on sample  data 0
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Descriptive Statistics Collect Data E.g. Survey Present Data E.g. Tables and graphs Characterize Data E.g. Sample  ____   =  i X n
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Inferential Statistics Estimation E.g. Estimate the population  mean weight using the  sample mean weight __________  Testing E.g. 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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This note was uploaded on 05/23/2011 for the course ECON 201 taught by Professor Dr.sharma during the Spring '08 term at Ohio State.

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RelativeResourceManager - ECO201 Lecture1...

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