ADMS 2320 Chapter Notes - Chapter 1-3: Time Series, Pie Chart, Unimodality

• School: York University
• Department: Administrative Studies
• Course: ADMS 2320
• Professor: N A

Document Summary

Population the entire set of observations under study. Parameter a descriptive measure of a population. Statistic a descriptive measure of a sample. Descriptive statistic involves the arrangement, summary and presentation of data, to enable meaningful interpretation and to support decision making. Make use of graphical techniques & numerical descriptive measures. Apply to the entire population(parameter) & the population sample(statistic) Variable a characteristic of population or sample that is interest for us. Eg. cereal choice, capital expenditure, the waiting time for medical services. Data the actual values of the variables. Eg. age weight, distance, time, temp, price, speed, scores, grades itself(90%) All calculations are permitted -> but problem of lacking nominal data; missing the true consumer data. Eg. types of colours, political affiliations, gender, hobbies and interest. Eg. religious/cultural affiliations -> brings out consumer interest -> target needs. No calculations are allowed -> very limited, eg. average of female/male(x); average of red/blue(x)