# lect1 - Course Information What is Statistics? Game I...

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Course Information What is Statistics? Game I Business Statistics Fall 2011 1/11 ISOM 2500 Lect 1: Course outline and Game I

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Course Information What is Statistics? Game I Outline Course Information What is Statistics? Game I 2/11 ISOM 2500 Lect 1: Course outline and Game I
Course Information What is Statistics? Game I Course Information See syllabus on course website. 3/11 ISOM 2500 Lect 1: Course outline and Game I

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Course Information What is Statistics? Game I WHAT IS STATISTICS? Statistics, the discipline, is the art and science of extracting useful information from data 1 . Three phases: Problem analysis, linking appropriate data to substantive questions Exploratory Data Analysis - discovery (found it!) summarization/description/exploration Conﬁrmatory Data Analysis - skepticism (really?) conﬁrmation/inference/assessment Data analyst as detective (detects but isn’t fooled) Statistics helps us make decisions in the presence of uncertainty and variation 1 Any numerical summary of data, such as an average, is called a statistic 4/11 ISOM 2500 Lect 1: Course outline and Game I
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## This note was uploaded on 12/20/2011 for the course ACCT/MGMT 2010 taught by Professor A during the Spring '11 term at HKUST.

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lect1 - Course Information What is Statistics? Game I...

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