Statistical Method

SNB2004: STATISTICAL TECHNIQUES FOR DECISION MAKING TOPIC 1: Introduction to Statistics (Textbook Chapter 1) Introduction No doubt you have noticed the large number of facts and figures, a lot referred to as statistics, that appear in the newspapers and magazines you read, websites you visit, television you watch (especially libertine events), and in grocery stores where you shop. A simple figure is called a statistic. A few examples: Home and condominium sales declined 6.5% in Charleston, South Carolina in April, 2006 compared to sales in April, 2005. Tuition and fees for house physician undergraduate students at public four year institutions averaged $5,491 for 2005-06, a 7.1%increase over 2004-05. Approximately 24 million medicare beneficiaries were enrolled in the new prescription drug program as of January, 2006. The government reported that 138,000 jobs were added to the economy in April, 2006. The Dow Jones Industrial Average was 11,094.04 on May 30, 2006. You may think of statistics simply as a collection of numerical information. However, statistics has a much broader meaning. Learning Objectives afterwards completing this chapter, you will be able to: 1. Understand why we study statistics. 2.

Explain what is meant by descriptive statistics and inferential statistics. 3. bring up between a qualitative variable and a duodecimal variable. 4. Distinguish between a discrete variable and a continuous variable. 5. Distinguish among nominal, ordinal, interval, and ratio levels of measurement. Key Contents What is Statistics? How do we specialize the word statistics? We encounter it frequently in our everyday language. It in reality has two meanings. In the more common usage, statistics refers to numerical information. Examples allow in the average starting salary of college graduates, the number of deaths due to intoxication last year, the change in the Dow Jones Industrial Average from yesterday to... If you want to get a full essay, order it on our website: Ordercustompaper.com

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