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Chapter 1-4

Business Statistics Notes Chapters 1-4

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Department
Commerce
Course
COMM 291
Professor
Kate Markhvida
Semester
Fall

Description
Chapter 2 Data 9142013 64700 PM 21 What Are Data Statistics are quantities calculated from data Data are values along with their contextRespondents Individuals who answer a survey SubjectsParticipants people on whom we experimentCompanies websites and other inanimate subjects are often called experimental units In a database rows are called recordscases The characteristics recorded about each individualcase are called variablesUsually shown as the columns of a data table In a relational database two or more separate data tables are linked so that information can be merged across them 22 Variable Types When a variable names categories and answers questions about how cases fall into those categories we call it a Categorical VariableDescriptive responses to questions are often categories o What type of fund do you invest in o Do you invest in the stock marketArea code we dont care the number but use them to categorize phone number into a geographical areaASK Does our variable tell us the quantity of something measured YESQuantitative NOCategoricalStudent ID number transaction number o Identifier Variable themselves dont tell us anything useful about the categories because we know there is exactly one individual in each Records a unique value for each case used to name or identify itCategorical variables that are only used to name categories are sometimes called Nominal VariablesOrdinal Variables values can be individually ordered ranks of employees based on the number of days theyve worked for the company or ordered in classes Head Office Regional Office
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