ECO220Y1 Lecture Notes - Lecture 1: Qualitative Property, Statistical Inference, Descriptive Statistics
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ECO220Y1 Full Course Notes
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Chapter 1-3: what is statistics? (or quantitive methods) There are 175 students enrolled in the class. Only consider 175 students - the population (de ned group) use n to denote -> n = 175. Collect data from all n = 175 students. 175 (a) then we can nd the average time = (20+54+15 ) / 175 = 30. 72 minutes. 30. 72 (b) among the 175 responses, 70 of them said yes p = percent worked last summer = 70 / 175. So rst de ne what a population is (n-the size of the population) if the population is manageable - can get every information. And p are parameters, can be measured precisely if population is manageable. Problem: can not reach all the students and get all the answers from everyone. So when n is large, we can"t get a data from all n individuals in the population.
