ADM 2303 Lecture Notes - Lecture 2: Industrial Revolution, Product Rule, Bar Chart
20 Jan 2016
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Document Summary
It"s a way of reasoning, with a collection of tools and methods designed to help us understand the world. Statistics helps to quantify uncertainty; critical for making decisions in the face of uncertainty. Revolution of business: agricultural revolution, 19th century industrial revolution, 20th century information revolution, 21st century data analysis revolution. Analysing large amounts of data (analyse retail sales, the trends,) 21st century statistics: real time analysis data (they analyse their market, vast amounts of data. Who: tells us the cases or individuals for which/whom we have collected data, people who answer surveys are respondents, people whom we experiment on are subjects or participants and other objects are experimental units. The place that a runner finishes in a race. Who and what are used to analyze the data. When and where give us info about the context. Every row corresponds to individual cases and in database they are called records.
