01:960:211 Lecture Notes - Lecture 1: Statistical Unit, Statistical Inference
19 May 2016
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Unit of analysis: something to compare (ex. Trends of revenue measured in $ and are compared by company, industry, companies, etc) Statistics is the study of variation at the aggregate level. Categories of human difference: race, ethnicity, gender, age, income, etc. Bell curve: developed by gauss, representative sample is the area under the curve. At the center of the curve is the mean, the highest point. Measures of dispersion: standard deviation, curve (bell curve) Standard deviation: how far away the measure is from the mean. Surveys: representing data (ex. charts, characterizing data (ex. averages, allllllll leads to data analysis and decision making. Business: consumer preference and financial trends and outcomes. Experimental unit: object that date collected is about. ***p in population (big) and parameters, s in statistics and sample (little)***
