EC255 Lecture Notes - Lecture 1: Accounts Payable, Inductive Reasoning, Management Information System
Document Summary
Art and science of gathering, analyzing, interpreting, and presenting data. Management information systems: system performance, dissemination of information. Operations and supply chain management: demand forecasting, resource/capacity management, and quality management. Measurement: process of transforming something our senses cannot perceive into something they can perceive. Data: measurements that are collected, recorded, and summarized for presentation, analysis, and interpretation. 1 collected; also called values may differ data collector variables on a single. Element: an entity or object, on which data are case, subject, individual. Variable: characteristic of the elements whose from element to element and is of interest to the. Qualitative data: labels or names for a characteristic. Data measurement: categorization of the values of a variable according to the amount of information conveyed about the elements to which they respond. Nominal level: values that represent category or group membership of elements (e. g. is a=b?, eye colour)
