MGMT 1050 Chapter Notes - Chapter 1: General Social Survey
Document Summary
Introduction: descriptive statistics deals with methods of organizing, summarizing and presenting data. can be done through graphic techniques, numeric techniques the actual technique we use is dependent on what we would like to extract from the data. Measure of central location: center value that best represents data (mean, median, mode) Measure of variability: how spread out/scattered the data values are. Inferential statistics is a body of methods used to draw conclusions or inferences about characteristics of populations based on sample data. Sampling (collecting data) descriptive (organizing data) inferences (interpreting data) Population: group of all items of interest, everyone/everything involved. Sample: a set of data drawn from the studied population. There was an election in the united states. 10,000 people voted, and 5,000 people voted for obama. Confidence level proportion of times than an estimating procedure will be correct: ex. Confidence level of 95% means that the estimates will be 95% of the time correct: 2.
