01:960:285 Chapter Notes - Chapter 1: Statistical Unit, Design Of Experiments, Business Analytics

• School: Rutgers University
• Department: Statistics and Biostatistic
• Course: 01:960:285
• Professor: G. Popel

Document Summary

Black box (pg 11) a process whose operation or actions are unknown or unspecified. Typically, however, a series of operations or actions that cause particular data to be realized are either unknown or so complex (or both) that the processes are treated as blackboxes. Business analytics (21) refers to methodologies (e. g. , statistical method) that extract useful information form data in order to make better business decisions. Census (6) when we measure a variable for every experimental unit of a population the result is a census of the population. Cluster sampling (18) sample natural groupings of experimental units first and then collect data from all experimental units within each cluster. Descriptive statistics (4) describing sets of data. Utilizes numerical and graphical methods to explore data (i. e. , to look for patterns in a data set, to summarize the information revealed in a data set, and to present the information in a convenient form).