Chapter 1 - Chapter Objectives At the completion of this...

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Chapter Objectives At the completion of this chapter, you should be able to answer: ∙ What is “statistics” and why is the study of statistics important to a business manager? ∙ What is a “parameter” and what makes it different from a “statistic” ? ∙ What is meant by the term “descriptive
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Chapter Objectives - Continued ∙ What is a population? A sample? A census? ∙ What are the types of data? (discrete/continuous) ∙ What are the strengths of data? (nominal, ordinal, interval, ratio) ∙ What distinguishes qualitative data from quantitative data?
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Section 1.2 Using the Computer The textbook discusses three software packages: Microsoft Excel, MINITAB, and SPSS We will only be using Excel; in particular, we will use a set of Excel macros that we have written to carry out the calculations and construct various statistical graphs/charts Read Section 1.3 (Uses of Statistics in Business)
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Population vs Sample Population (size is N) Sample (size is n) Usually selected randomly ( called a simple random sample) Random samples provide a better representation of the population.
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This note was uploaded on 01/13/2012 for the course DCSI 3710 taught by Professor Pavur during the Fall '11 term at North Texas.

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Chapter 1 - Chapter Objectives At the completion of this...

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