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

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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
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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. 7.
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This note was uploaded on 02/29/2012 for the course COMM 215 taught by Professor Online during the Spring '12 term at Concordia University Irvine.

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

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