QMS 102 Lecture Notes - Design Of Experiments, Standard Deviation

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QMS 102
BUSINESS STATISTICS I
Dr. Chua
Lecture 1
WHAT IS STATISTICS?
“Statistics is the science of collecting, organizing, presenting, analyzing, and interpreting
data to assist in making effective decisions.” Data transforms into Information
Statistics can be....
Descriptive Statistics
-Collecting and describing the data
-Collect Data eg Survey <Source of Data>
-Present Data eg Tables and Graphs <Chapter 2>
-Characterize Data <Numerical Descriptive measures>
Parameters
Stats
What is Data? Observed values of variables or responses to a survey.
Titles are called variables.
There are two types of Data: Qualitative (Categorized) which can be summarized by
graphs or proportions/ratios/percentage and Quantitative(Numerical) which can be
summarized by graphs and/or numerical description(mean, median, mode, standard
deviation)
Collect Data through questionnaire/survey, a designed experiment, and an observed
study.
Classification of Data
Type of Data Measurement Scale
Quantitative Data Discrete (20 years) or Continuous(20 years 3months) Interval/Ratio
Qualitative Data Nominal has no order or Ordinal which has order such as medals in the
Olympics.
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Document Summary

Statistics is the science of collecting, organizing, presenting, analyzing, and interpreting data to assist in making effective decisions. data transforms into information. Present data eg tables and graphs Observed values of variables or responses to a survey. There are two types of data: qualitative (categorized) which can be summarized by graphs or proportions/ratios/percentage and quantitative(numerical) which can be summarized by graphs and/or numerical description(mean, median, mode, standard deviation) Collect data through questionnaire/survey, a designed experiment, and an observed study. Quantitative data discrete (20 years) or continuous(20 years 3months) interval/ratio. Qualitative data nominal has no order or ordinal which has order such as medals in the. Olympics. ( ) 20 30 ( )30 40 range or categorical (qualitative) ( ) 40 50 ( ) above 50. Interval: "0" is only an arbitrary reference point. "0" does not mean nothing *only addition and subtraction. Ratio: "0" does mean the absence of the characteristic being measured, "0" = "nothing"

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