01:960:285 Chapter Notes - Chapter 1: Statistical Inference, Statistical Unit, Simple Random Sample

• School: Rutgers University
• Department: Statistics and Biostatistic
• Course: 01:960:285
• Professor: Shyam Moondra

Document Summary

Statistics for business and economics 12e chapter 1 notes: statistics the science of data which involves collecting, classifying, analyzing, and interpreting numerical and categorical information. Definition collect, organize, summarize, and present data. 5 elements: population or sample of interest, one or more variables, population of interest, one or more variables (characteristics) that are to be investigated, tables, graphs, or numerical summary tools. D. (characteristics) that are to be investigated: sample of population units. Inference about the population based on information in sample: a measure of reliability for the inference, elements of a statistical problem. Experimental unit an object upon which we collect data. Ex) all cars produced last year by a particular assembly line; entire stock of spare parts @ ua maintenance facility. Population a set of units that we are interested in studying. Ex) all employed workers in the us; all registered voters in california.