BUSI 1450U Lecture Notes - Lecture 1: Minitab
Document Summary
Actual numbers that have been measured or observed. Statistics as a process (this is the topic of the course) Descriptive statistics: focus is on summarizing and presenting information: example: Inferential statistics: goes beyond the actual, collected data set, designed to make estimates, or inferences , about the characteristics of a population, based on information found in one or more samples. Two main applications: estimate a characteristic of a population, based on data from the sample, test a claim or assumption about a characteristic of a population, based on data from the sample. Population: the total set of objects that are of interest to a decision maker. Population data are collected by a census. Chapter 1: a subset of the population, observed and studied to tell us something about the overall population. Time constraints: decision deadlines, trends, seasonality. Note on samples and populations in your statistical software. Minitab is designed to presume that the data you load are for a sample.
