STAT 1100 Chapter Notes - Chapter 1: Descriptive Statistics, Statistical Inference, Pepsis
Document Summary
1/8/17: student asks for the final marks of the course from last semester. This is a typical statistics problem because the student has the data (marks) and needs to apply statistical techniques to get the information he requires: descriptive statistics. Deals with methods of organizing, summarizing, and presenting data in a convenient and informative way. One form of descriptive statistics uses graphical techniques. Pepsi"s exclusivity agreement with a university: a university will sell only pepsi products in exchange for 35% of its on-campus revenues and an additional lump sum of ,000 per year. A body of methods used to draw conclusions or inferences about characteristics of populations based on sample data. The characteristic of interest is the soft drink consumption of the population. The information we would like to acquire is an estimate of annual profits from the exclusivity agreement. The data are the numbers of cans of soft drinks consumed in 7 days by the 500.
