BUEC 232 Study Guide - Midterm Guide: Regional Policy Of The European Union, Office Of Gas And Electricity Markets, Variance

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

Document Summary

Learning objective one: define stats and list example applications of it. Learning objective two: define important stat terms, and how they. Relate to descriptive and inferential stats: statistics: a science dealing with the collection, analysis, interpretation, and presentation of numerical data, the key elements, collect data, analyze data. Learning objective three: explain the difference between variables, So once measurements are recorded and stored, they"re known as data now. Interval level: the distances between the data has meaning, and the data is always numerical. Also, zero is just another point on the scale, it doesn"t mean an absence of anything: example: 20 degrees has the same distance between 21 and 19 degrees, also, zero is just a temperature, ratio: highest level. It has the same properties as interval data, but it has an absolute zero and the ratio of two numbers has meaning. Zero means the absence of the characteristic being studied.