MGSC 2301 Chapter Notes - Chapter 1: Descriptive Statistics, Statistical Inference, Categorical Variable

• School: Northeastern University
• Department: Management Science
• Course: MGSC 2301
• Professor: paulmccleary

Document Summary

Statistics: the art and science of collecting, analyzing, presenting, and interpreting data. Data: the facts and figures collected, analyzed, and summarized for presentation and interpretation. Data set: all the data collected in a particular study. Elements: the entities on which data are collected. Variable: a characteristic of interest for the elements. Observation: the set of measurements obtained for a particular element. Nominal scale: the scale of measurement for a variable when the data are labels or names used to identify an attribute of an element. Ordinal scale: the scale of measurement for a variable if the data exhibit the properties of nominal data and the order or rank of the data is meaningful. Interval scale: the scale of measurement for a variable if the data demonstrate the properties of ordinal data and the interval between values is expressed in terms of a fixed unit of measure.