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York University (12,828)
Chapter 1

# ADMS2320 quiz 1 - chapter 1 to 3.docx

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Hila Cohen
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Winter

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ADMS2320 – Quiz #1 Review - Chapter 1 to 3 Data - facts, especially numerical facts, collected together for reference or information Statistics - is a way to get information from data Information - Knowledge communicated concerning some particular fact Population – is a set of all items example. York students, Canadians (PARAMETERS) Sample - subset of observations drawn from a population. 40 York students chosen at random, (STATISTICS) Acompany has developed a new battery, but the average lifetime is unknown. In order to estimate this average, a sample of 500 batteries is tested and the average lifetime of this sample is found to be 225 hours. The 225 hours is the value of a: 1)parameter 2)statistic 3)sample 4)population Descriptive Statistics are methods of organizing, summarizing and presenting data in an informative way through graphical and numerical ways. It gives you a measure of central location and measure of variability (dispersion). It presents a set of data (data) in such a way that is useful (information) is produced Inferential Statistics draw conclusions or inferences about characteristics of populations based on data from a sample. We use statistics to make inferences about parameters. Therefore, we can make an estimate, prediction, or decision about a population based on sample data. Data Types • Quantitative vs. Qualitative • Time Series vs. Cross-Sectional Quantitative Continues: measurement process Discrete: counting process. Example: non-integer results – average family has 2.2 children Qualitative: values that are simply labels and or categories and have no numerical meaning, calculations that use the
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