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Slides%20Ch%201 - Business Statistics Chapter 1 Terms Data...

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Business Statistics Chapter 1
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Terms Data are facts and figures from which conclusions can be drawn Data Set. The data that are collected for a particular study are referred to as a data set. Elements. The data set provides information about a group of individual elements. Variables are the characteristics of the
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Home Sales in Kennesaw Home Subdivision List Price Construction Quality Walk Score 1 Lullwater $194,000 8 Superior 32 2 Palisades $447,000 9 Excellent 45 3 Olmstead $187,000 7 Very Good 12 4 Highcroft $155,000 6 Good 23 5 Palisades $452,000 9 Excellent 45 Data Set ? Elements ? Variables ?
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Home Sales in Kennesaw Home Subdivision List Price Construction Quality Walk Score 1 Lullwater $194,000 8 Superior 32 2 Palisades $447,000 9 Excellent 45 3 Olmstead $187,000 7 Very Good 12 4 Highcroft $155,000 6 Good 23 5 Palisades $452,000 9 Excellent 45 Data Set: 1 the whole table Elements: 5 homes 1 - 5 Variables: 4 Subdivision, List Price, Construction Quality and Walk Score
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Home Subdivision List Price Construction Quality Walk Score 1 Lullwater $194,000 8 Superior 32 2 Palisades $447,000 9 Excellent 45 3 Olmstead $187,000 7 Very Good 12 4 Highcroft $155,000 6 Good 23 5 Palisades $452,000 9 Excellent 45 Variables: Scale of Measurement Subdivision Quantitative or Qualitative? List Price Quantitative or Qualitative? Construction Quality
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This note was uploaded on 01/23/2012 for the course ECON 2300 taught by Professor Dodonova during the Spring '08 term at Kennesaw.

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Slides%20Ch%201 - Business Statistics Chapter 1 Terms Data...

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