chapter 1 - . The key to learning from data is...

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MSIT 3000 Chapter 1 Statistics and Variation So, What Is Statistics? Statistics is a way of reasoning, along with a collection of tools and methods, designed to help us understand the world. Statistics is the scientific discipline which consists of formulating a research question the collection of data describing data drawing conclusions or generalizations from data Our ability to answer questions and draw conclusions from data depends largely on our ability to understand variation
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Unformatted text preview: . The key to learning from data is understanding the variation that is all around us. 1 Descriptive Statistics utilizes numerical and graphical methods to look for patterns in a data set, to summarize the information revealed in a data set, and to present the information in a convenient form. Inferential Statistics-utilizes sample data to make estimates, decisions, predictions, or other generalizations about a larger set of data and measure their reliability. 2...
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This note was uploaded on 01/10/2012 for the course MIST 3000 taught by Professor Kim during the Fall '11 term at University of Georgia Athens.

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chapter 1 - . The key to learning from data is...

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