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STAT 263 (2)
Chapter 1

STAT 263 Chapter 1: Introduction

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Queen's University
STAT 263
Charles Arthur Molson

STAT 263: Modern Elementary Statistics Chapter 1: Introduction 1.1 Growth of Modern Statistics: - Origin of modern statistics can be traced to two areas: government (political science) and games of chance (probability) - Governments and large organizations have a need to take large amounts of data, condense it and then present it to general public, allowing them to make more informed decisions. - Generalizations: go beyond data and are needed to estimate results when observing from samples of the population. (generalize observations made on only part of a large set of items) - Two broad categories of Statistics: 1. DESCRIPTIVE STATISTICS: ▪ describing, summarizing, and analyzing census data by means of tables and charts ▪ Anything done to data that does not infer anything which generalizes beyond itself. 2. INFERENTIAL STATISTICS: ▪ Involves making estimates, decisions, predictions and other generalizations about the population based on the study of a sample (subset) of that population - Biased Data: o The complilation of statistical data is biased when inappropriately (intentionally of unintentionally) certain persons or items are included or omitted from a sample. o Hidden Biases may occur and may be very difficult to forsee or detect. 1.2 Sources of Statistical Data: 1. Internal Data: o Data taken by a buisness firm or organization from its own accounting records, payrolls, production records, inventories, sales etc… 2. External Data: o Primary Data: ▪ Collected and released by the same organization ▪ Ex: Bureau of Labor Statistics collects data required for its Consumer Price Index and publishes it in its Monthly Labor Review o Secondary Data: ▪ Released by an organization other than the one by which they are collecte
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