QMS 102 Chapter Notes - Chapter 1: Statistical Inference, Qualitative Property, Level Of Measurement

• School: Ryerson University
• Department: Quantitative Methods
• Course: QMS 102
• Professor: Scott Clark

Document Summary

Introduction: statistics is the science of collecting, organizing, presenting, analyzing, and interpreting data to assist in making effective decisions, descriptive statistics focusers on collecting, summarizing, presenting, and analyzing a set of data. 1. 3 classification of data: quantitative data: numeric data resulting from measuring, can be either discrete or continuous quantitative data, discrete variables have numerical values that arise from a counting process. Number of premium cable channels, because the number is finite, 1,2, or none: continuous variables produce numerical responses that arise from a measuring process. 1. 4 why do you classify your data: to ensure proper use of statistical methodology to analyze the data. Ex: with a set of quantitative data, you can take the average of the values. Discrete ratio data: number of albums you own, vacations in the past 10 years. Continuous ratios data: size of your house, gas price (cents), distance (km)