Week 1 Study Notes

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13 Dec 2010
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GGR 270 Lecture 1 September 15, 2010
What are (is) statistics?
Any collection of numerical data
oVital statistics (birth rates, death rates)
oEconomic indicators (unemployment rates, income levels)
oSocial Statistics (poverty, crime rates)
Methodology for collecting, presenting and analysing data
oSummarize findings
oTheory validation
oForecast
oEvaluate
oSelect among alternatives
Descriptive vs. Inferential Statistics
Descriptive
oOrganization and summary of data
oReplace large sets of numbers with small summary measures
oGoal of techniques is to minimize information loss
Inferential
oLinks descriptive statistics to probability theory
oGeneralize results of smaller group to a much larger one
oUsing stats from small group to make conclusions about a large group
oGoal is to infer something about a larger group by looking at a smaller one
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