QMS 102 Lecture Notes - Lecture 1: Level Of Measurement, Pareto Chart, Bar Chart

• School: Ryerson University
• Department: Quantitative Methods
• Course: QMS 102
• Professor: Nursel Ruzgar

Document Summary

Statistics are used to get information from a data set. Data-facts, usually numbers collected together for reference or information (list of term marks) Information-knowledge communicated concerning a particular fact. (finding the median, average, etc. ) Population-group of all items of interest to the statistic practitioner. (all members of ryerson, also very large) Parameter-descriptive measure of a population. (mean number of soft drinks sold at ryeron) Sample-a set of items elected from the population (500 students surveyed, can be large but always smaller than population) Statistic-a descriptive measure of a sample. (average number of sodas bought by student) Variable-a characteristic of population or sample that is of interest. (number of sodas a student buys every week) Descriptive statistics- involves the arrangement, summary and presentation of data to enable meaningful interpretation and to support decision making. Inferential statistics- a set of methods used to draw conclusions about characteristics of a population based on sample data.