BA 3400 Notes 1 - Krunal Thakkar BA3400...

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Krunal Thakkar 9/17/13 BA3400 Quantitative/Statistical Methods BA 3400 Notes 1 Statistics-Numeral facts such as averages, medians, percents, and index numbers that help us understand the variety of business/economic situations. Also mean collecting, analyzing, and interpreting data. Exploratory Research- gives us initial insights paves the way for further research. Often unstructured and informal based on secondary data like past cases. Conclusive Research Design- This is when the researcher verifies the insights and selects the appropriate course of action. Descriptive Research- formal structured survey that helps provide valuable info about variables. Experiment Research- experiments to find cause and effect relationships between variables. Experiments when the independent and dependant variables are manipulated. Data are facts and figures collected, analyzed, and summarized for presentation and interpretation. All data is a data set Elements-entities in which data is collected Variables-characteristic of interest for elements Observation-set of measurements for a particular element Number of Elements X Number of Variables = Number of Data Values Measurements-assignment of numbers to attributes or objects or events or entire object/event.
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