BU255 Chapter 1: Chapter 1 Notes
Document Summary
We will be using graphs to depict interesting statistics that will aid in business decision making. Population widely defined: census study of entire population, parameter descriptive measure of the population, statistic descriptive measure of a sample. Sample portion of the whole (should be representative of the whole) Parameter vs statistic is only important in inferential stats. Variable characteristic of any entity being studied that is capable of taking on different values. Measurement standard process used to assign #s to attributes or characteristics of a variable.
