MGMT 1050 Lecture Notes - Lecture 1: Statistical Inference, Descriptive Statistics
Document Summary
Statistics -- (as a methods): collection, organization, presentation, interpretation, analysis of numerical data. Statistics are affected to a marked extent of multiplicity of causes: many variables have effects of stats. Statistics are numerically expressed: in quantitative methods, not qualitative. Should be placed in relation to each other. All statistics are numerical statements of facts but not all numerical statements of facts are statistics. It is a way to get information from data. Descriptive statistics deals with methods of organizing, summarizing, and presenting data in a convenient and informative way. Such as graphical techniques, which allows stats practitioners to present data easily. Parameter is a descriptive measure of the population. Statistics is a descriptive measure of the sample.
