ssm_01 - Students Solutions Manual and Study Guide Chapter...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Student’s Solutions Manual and Study Guide: Chapter 1 Page 1 Chapter 1 Introduction to Statistics LEARNING OBJECTIVES The primary objective of Chapter 1 is to introduce you to the world of statistics. We would like to answer the following questions: 1. What is statistics? 2. What is the range of applications of statistics in business? 3. What is the difference between descriptive and inferential statistics? 4. How can numbers be classifi ed by level of data and why is doing so important? CHAPTER OUTLINE 1.1 Statistics in Business 1.2 Basic Statistical Concepts 1.3 Data Measurement Nominal Level Ordinal Level Interval Level Ratio Level Comparison of the Four Levels of Data Statistical Analysis Using the Computer: Excel and Minitab KEY TERMS Census Ordinal Level Data Descriptive Statistics Parameter Inferential Statistics Parametric Statistics Interval Level Data Population Metric Data Ratio Level Data Nominal Level Data Sample Nonmetric Data Statistic Nonparametric Statistics Statistics
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Student’s Solutions Manual and Study Guide: Chapter 1 Page 2 STUDY QUESTIONS 1. A science dealing with the collection, analysis, interpretation, and presentation of numerical data is called _______________. 2. One way to subdivide the field of statistics is into the two branches of ______________ statistics and _____________ statistics. 3. A collection of persons, objects or items of interest is a _______________. 4. Data gathered from a whole population is called a _______________. 5. If a population consists of all the radios produced today in the Lethbridge facility and if a quality control inspector randomly selects forty of the ratios, the group of forty is referred to as _______________. 6. If data are used to reach conclusions only about the group from which the data are gathered, then the statistics are referred to as _______________ statistics.
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern