SPH-M 304 Study Guide - Fall 2018, Comprehensive Midterm Notes - Regression Analysis, I Decided Album, Facebook

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12 Oct 2018
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Data is information that comes in many forms. Numbers, words, pictures, videos, and measurements all count as types of data. Data can be raw and unorganized or put in a certain format. Companies use many different types of data, the first being, transactional data which includes inventory, sales and cost. Another form of data they use is nonoperational data which include sales and macroeconomics. Descriptive statistics include a summary and description of the data which must include frequencies, central tendency, measures a dispersion and distribution. An example of descriptive statistics are batting average, turnovers, demographics and fan base. On the other hand, inferential statistics are how a sample is acquired and done on assumption that a sample is random: give three examples of each of nominal, ordinal, interval, and ratio scales. Interval time of day on a 12-hour clock. Inches or centimeters: identify a sample and a population of the study.

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