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Lecture 1

# 01:960:285 Lecture 1: Intro to Stats for Business Chap 1

Department
Statistics and Biostatistic
Course Code
01:960:285
Professor
Moondra Shyam
Lecture
1

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Intro to Stats for Business (1/16/2018)
Office hours not on syllabus include:
Milledoler building after 5 :50pm T TH
Voorhees Hall before 2:50pm T TH
TA’s hae additioal hous that ill be posted o “akai
Homework: Read all of chapter 1 except for 1.4, Do HW from chapter 1 that is posted on sakai
Chapter 1 notes
Population: A universal/complete set of objects/elements to be studied
Sample: A subset of population
Variable: A characteristic or property of the population that is of interest
Inference: An estimate or prediction about the population based on sample data
Measure of Reliability of Inference: A uatitatie easue of goodess of the
inference
Statistics Probability (Chapters 3,4)
Descriptive Stats (Chapters 1,2) Inferential Stats (Chapters 5,6,7,8)
What is Statistics? -Analyzing data and drawing conclusions
Wall Street Analysts use stats, pharm drug testers use stats, everyone uses stats!
Types of data
o Qualitative(categorical)
o Quantitative (numerical and with units)
find more resources at oneclass.com
find more resources at oneclass.com