EC255 Lecture Notes - Lecture 1: Management Information System, Quality Management, Market Analysis
Document Summary
Best 7/10 taken for calculation of final grade. Lowest quiz mark dropped in calculation of final grade. The ability to extract useful information from data is one of the most important practical skills. Organizations are swimming in an expanding sea of data that is either too voluminous or too unstructured to be managed and analyzed. Art and science of gathering, analyzing , interpreting, and presenting data. Process of transforming something our senses cannot perceive into something they can perceive. Measurements that are collected, recorded, and summarized for presentation, analysis, and interpretation. An entity or object on which data are collected. Characteristic of the elements whose values may differ from element to element and is of interest to the data collector. Measurement of a variable or variables on a single element. Categorization of the values of a variable according to the amount of information conveyed about the elements to which they correspond.
