ADMS 2320 Chapter Notes - Chapter 1: Statistical Inference, Standard Deviation, Alpha

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May 29 quiz #1 15 m/c. Statistics is a way to get information from data. The word statistics is often used to mean a body of data, but in mathematics, the word also refers to the methods of extracting information from data. Statistics is a tool for creating new understanding from a set of numbers. A student enrolled in a business program is attending the first class of the required statistics course. The student is somewhat apprehensive because he believes the myth that the course is difficult. To alleviate his anxiety the student asks the professor about last year"s marks. The professor obliges and provides a list of the final marks, which is composed of term work plus the final exam. Counting the 80s, 60s, etc. marks to figure out the average of 80 students" marks. Mean (average mark) highest mark less the lowest mark. Range = maximum minimum = 92-53 = 39.

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