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QMS 102 (49)
Chapter 1

QMS 102 - Chapter 1 Notes.docx

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Ryerson University
Quantitative Methods
QMS 102
Boza Tasic

QMS 102 – Chapter 1 Notes Data: information/facts, can be stored and used Statistics: applied mathematics used for collecting, organizing, presenting, analyzing, interpreting data Statistics Descriptive Statistics: collecting, organizing, preparing, analyzing data (surveys, interviews, etc) Inferential Statistics: data collected by smaller groups to draw a conclusion about larger group Collected from 2 main sources Primary Data: original (raw) data, collected from direct respondents (using surveys, etc) Secondary Data: collected by other parties/sources (Statistics Canada, etc) Basic Statistical Terms/Definitions Term Definition Population Group that includes ALL objects/subjects in study Population Size # of objects/subjects in a population Denoted by N Census Set of data, includes all members of the population Sample Subset of population Sample Size # of objects/subjects in a sample Denoted by n Variable Feature, #/quantity that can be measured/counted, has a name and value Variable Types Numeric Variables #’s from measuring, “how many” “how much” Quantitative Variables Discrete variable, from counting process, integer (ex: # of bathrooms in an apt.) Continuous variable, from measuring process, real number (ex: money) Categorical Variables Description, “what type” “what category”
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