BUSI 1450U- Final Exam Guide - Comprehensive Notes for the exam ( 60 pages long!)
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Each object may have one or more features or characteristics that are of interest. Description and inference with statistics: descriptive statistics focused on summarizing and presenting info. For example, pie charts, bar graphs, line graphs, tables, etc: data set the set of all observations for a given project or purpose. Inferential statistics goes beyond the data set that is at hand. Example: a survey finds that 52% of questioned voters support a certain piece of legislation. Estimate the proportion of all voters that support the legislation: test a claim or assumption about a characteristic of a population, based on data from the sample. Example: a reporter (cid:272)lai(cid:373)s that (cid:862)a (cid:373)ajorit(cid:455)(cid:863) of (cid:448)oters support a certain piece of legislation. A survey finds that 52% of questioned (cid:448)oters support that legislatio(cid:374). Infinite population it is not infinite in the sense of having no limit, but in practice, it is not realistically possible to identify and count every member of the population.
