MISY262 Lecture Notes - Lecture 1: Countable Set, Random Variable, Royal Institute Of Technology

• School: University of Delaware
• Department: Management Information Systems
• Course: MISY262
• Professor: Elias Kourpas

Document Summary

Anything that can be measured and can vary across entities or across time. Discrete- can only take on certain values, finite, or countably infinite. Categorical- subset of discrete but has a finite number of distinct category values. Nominal- more than 2 but no numerical values associated (ie blue, green, brown eyes) Ordinal- logical ordering (satisfactory, not satisfactoy, somehwat satisfactory) Continueous- any value in an interval (can include halfs) Number of iphones sold per month at one store or all stores or across sales avenues- discrete(bc cant be a half or quarter) Review out of 5 stars for a particular product on amazon. Independant- the cause of some effect (aka predictor) Descriptive statistics- for a random variable we have measured we can idenitfy the folowing among other diagnostics. Frequency distrubution (histogram)- plots the observed values on the horizontal axis and the count of appearances on the veritcal axis. Median- middle observation in a sorted list.