Chap01

Chapter 1 Why Study Statistics? Statistics for Business and Economics 6 th Edition

Chapter Goals ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Dealing with Uncertainty ,[object Object],[object Object],[object Object],[object Object]

Dealing with Uncertainty ,[object Object],[object Object],[object Object],(continued)

Key Definitions ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Population vs. Sample a b c d ef gh i jk l m n o p q rs t u v w x y z Population Sample b c g i n o r u y Values calculated using population data are called parameters Values computed from sample data are called statistics

Examples of Populations ,[object Object],[object Object],[object Object],[object Object]

Random Sampling ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Descriptive and Inferential Statistics ,[object Object],[object Object],[object Object],[object Object],[object Object]

Descriptive Statistics ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Inferential Statistics ,[object Object],[object Object],[object Object],[object Object],Inference is the process of drawing conclusions or making decisions about a population based on sample results

The Decision Making Process Begin Here: Identify the Problem Data Information Knowledge Decision Descriptive Statistics, Probability, Computers Experience, Theory, Literature, Inferential Statistics, Computers

Chapter Summary ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Chap01

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