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Chapter 1-2

73-100 Chapter Notes - Chapter 1-2: Data Mining, Time Series, EurostatPremium

3 pages108 viewsWinter 2018

Department
Business
Course Code
73-100
Professor
Peter Miller
Chapter
1-2

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CHAPTER 1 Why Statistics is Important to you
Statistics – a way of reasoning, along with a collection of tools and methods, designed to help us
understand the world
- a way of making sense of our world though the collection, analysis and understanding
of data
Statistics - quantities calculated from a subset (aka sample) of a complete data set (aka a
population)
Parameter – a quantity calculated from a population
Data – values along with their context
Plan, do report – carefully plan what you intend to do before you carry out your plan; follow
your plan’ carefully explain your findings
Information = useful data
CHAPTER 2 Data
Data (pl.)– the “things given” for us to turn into information
- systematically recorded information, whether number of labels together with its
context
Context – Who, what, when, where, why, how – it is key to understanding the data
- Who and whatessential for collecting data used for producing useful information
- rows of data correspond to individual cases about whom (or what) we record some
characteristics
- Who:
- Respondents – individuals who answer surveys
- Subjects – people whom we experiment on (= participants, when we acknowledge
the importance of their role)
- Experimental units – animals, plants, websites etc. that we experiment on
- Participant (=subject)– a human experimental unit
- Case – an individual about whom we have data
- Whatvariables of interest (characteristics) measured form the who, with their specific
values being the data
- records –information about an individual (row) in a database
- Observations – how data values are sometimes referred to (careful that you are clear
about the who)
! participants know that they are being observed (can act differently)
! participants don’t know that they are being observed (more accurate)
- Surveys – internet (best chance of getting answered, more honest), personal
interview, mail
- Variables – the characteristics recorded about each individual or case, usually the
columns, should have a name identifying the what
- Value - piece of information on a variable for a single case, data are the values of
variables
! ex. height of students =variable, actual measurements of heights = values
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