MGMT 1050 Lecture Notes - Lecture 1: Statistical Inference, Type I And Type Ii Errors, Histogram
14 Mar 2018
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Document Summary
Deals with methods of organizing, summarizing, and presenting data in a convenient and. Graphical techniques for easy extraction of useful information (histogram) Numerical techniques to describe different features of data. Actual technique depends on the specific information that we would like to extract. Measure of central location (mode, mean, median) Is a body of methods used to draw conclusions or inferences about characteristics of population based on sample data. A sample that is only a small fraction of the size of the population can lead to correct inferences only a certain percentages of the time. Is the group of all items of interest to a statistics practitioner. Descriptive measure: parameter represents the information we need (in most applications) Set of data drawn from a studied population. Process of making an estimate, prediction, or decision about a population based on. Populations = almost always very large, impractical to investigate each member.
