BNAD 276 Lecture Notes - Lecture 1: Statistical Inference, Statistical Parameter, Descriptive Statistics

• School: University of Arizona
• Department: Business Administration
• Course: BNAD 276
• Professor: Umashankar

Document Summary

Descriptive statistics: the summary of a data set in the form of tables, graphs, or numerical data. Inferential statistics: the practice of extracting useful information from a sample to draw conclusions. Bnad 276 chapter 1: statistics and data about a population. Population: the complete collection of items of interest in a statistical problem. Sample: a subset of a population of interest. Sample statistic: a random variable used to estimate the unknown population parameter of interest. Cross-sectional data: values of a characteristic of many subjects at the same point in time or approximately the same point in time. Example: tweens listing what radio station they listened to, how long the dining hall should stay open, and how much money they spent while at a resort. Time series data: values of a characteristic of a subject over time. Variable: a general characteristic being observed on a set of people, objects, or events, where each observation varies in kind or degree.