Chapter 1 - Chapter1 AnIntroductiontoBusiness Statistics 1...

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Chapter 1 An Introduction to Business  Statistics 1
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Introduction to Data Collection Chapter 1 DSC 205 A/B/C How can you apply Business Statistics? “ The annual per capita consumption of bottled water has increased from 18.8 gallons in 2001 to 28.3 gallons in 2006.” “Consumer payment with credit cards increased from 18% in 1995 to 25% in 2005, while payment in cash decreased to 14% from 21.” Is there such thing as “hot streak” in sports or just randomness? Consumers purchase Brand X twice more often than they purchase its competitor Brand Y. "Lies, damned lies, and statistics" is part of a phrase attributed to the 19th Century British Prime Minister Benjamin Disraeli, among others, and later popularized in the United States by, among others, Mark Twain: "There are three kinds of lies: lies, damned lies, and statistics." The statement refers to the persuasive power of numbers, the use of statistics to bolster weak arguments, and the tendency of people to disparage statistics that do not support their
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This note was uploaded on 10/20/2011 for the course DSC 205 taught by Professor Krallman during the Spring '08 term at Miami University.

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Chapter 1 - Chapter1 AnIntroductiontoBusiness Statistics 1...

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