MGMT 1050 Chapter Notes - Chapter 1: Statistical Inference, Descriptive Statistics, The Technique

• School: York University
• Department: Management
• Course: MGMT 1050
• Professor: Hila Cohen

Document Summary

Statistics is a way to get information from data. The student has the data (marks) and needs to apply statistical techniques to get information her requires descriptive statistics. Deals with methods of organizing, summarizing, and presenting data in a convenient and. 2 forms of descriptive statistics: uses graphical techniques that allow statistics practitioners to present data in ways that make it easy for the reader to extract useful information, uses numerical techniques to summarize data (mean, median etc. ) The technique we use depends on what specific information we would like to extract. Measure of central location mean, median, mode etc. A body of methods used to draw conclusions or inferences about characteristics of population based on sample data. Using results from a sample to apply to the population. A random sample of voters who exit the polling booth are asked for whom they voted. Statistical inference problems involve 3 key concepts; the population, the sample and the statistical inference.