COB 191 Study Guide - Final Guide: Qualitative Property, Statistical Inference, Zip Code
Document Summary
Business statistics are statistics applied to the business world in an effort to improve people"s decision making. Primary data is collected by the person to use themselves. Secondary data is collected from somebody else and made for others to use (gov"t website) Direct observation is a method of gathering data while the subjects are in their natural environment (unlikely to be influenced). Focus group is a direct observational technique where people are paid to discuss their attitudes toward a product or service. Expirement is where subjects are exposed to certain treatments and data of interest is recorder. Survey involves directly asking people a series of questions. Bias can occur when a question is stated in a way that encourages a respondent to a particular answer. Qualitative data (level of education) (cannot perform mathematical operations) Nominal level (qualitative) cannot be ranked (gender, location, zip code, telephone number) and are the lowest level of data.
