Chapter_1___definitions

# Chapter_1___definitions - Chapter 1 Content of course:...

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Chapter 1 Content of course : descriptive statistics (1,2,3); probability (4,5,6,7); inferential (8,9, etc.) Definition : Statistics is the “art and science of collecting, organizing, analyzing, presenting, and interpreting data”. Example : You are a wood manufacturing company and you wish to consider purchasing 100 acres of woods. You believe that revenue=f(amount of wood)= f(# of trees x average diameter). The “population” will be defined as “disease-free, hardwood, > 6” in diameter. Your sample is 5 acres. Data consists of observations of random variables derived from elements. Note that an element could be such things as 1) publicly traded companies, 2) students in a survey, 3) trees, 4) cities > 100,000 population. Random variables are measurements of some characteristic of interest whose values can change for each observation. Variables with fixed values for every observation are constants. Parameters
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## This note was uploaded on 06/19/2011 for the course STAT 260 taught by Professor - during the Fall '10 term at Sam Houston State University.

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