EXST 2201 Chapter : EXST 2201 Chapter 1
Document Summary
When analyzing data, consider pulling out the number of numbers, a min, a max, a summary, and an average. Probabilistic data is able to predict what will happen in the long-run which is then used to work backwards to determine strategies in the short-run. Sampling is the technique used to collect information, usually random. Descriptive statistics condense and describe sets of data. Techniques can include frequency tables, histograms, and summary numbers. Inferential statistics systematically draw conclusions about a population from a set of sample data. The difference between math and statistics is the concept of spread each part. Distance is measured in terms of spread units. In stats, it is the number of standard deviations. Divide 1 by the number of standard deviations. It is, however, the best we can do. Qualitative data has the least information, discrete is in between, and continuous has the.
