BUEC 232 Study Guide - Midterm Guide: 2Degrees, United States Treasury Security, Six Sigma

• School: Simon Fraser University
• Department: Business Economics
• Course: BUEC 232
• Professor: Andrew Flostrand

Document Summary

Lo1/lo2: wide variety of uses & applications of stats in business, statistics = a science dealing w/the collection, analysis, interpretation, presentation of numerical data, key elements, collect data, analyze data. Interpret data: present findings, uses of statistics, to summarize business data, decision methods used to create charts & tables (cid:862)ho(cid:449) ofte(cid:374) do (cid:449)e ru(cid:374) out of sto(cid:272)k? (cid:863, to draw conclusions from business data. Inferential methods used to reach conclusions about a large group based on a smaller one (cid:862)(cid:449)e (cid:272)ould (cid:373)ake (cid:373)ore $ if (cid:449)e ra(cid:374) out less ofte(cid:374)(cid:863: to make reliable forecasts about business activities. # of kids, defects per h: continuous = measured characteristics, e. g. weight time spent travelling. Interval data: differences between measurements, data = always numerical, no absolute zero, equal distances between #s, zero point = matter of convention/convenience, =/= a natural or fixed point. Is another point on the scale: =/= mean the absence of the phenomenon, e. g.