14. Statistical Techniques in Business & Economics (1)

1 ­ 1. What is Statistics?.Copyright © 2004 by The McGraw­Hill Companies, Inc. All rights reserved. 1 ­ 2. When you have completed this chapter, you will be able to: 1. Explain what is meant by . statistics 2. Identify the role of statistics in the development . of knowledge and everyday life 3. Explain what is meant by descriptive statistics . and inferential statistics. 4. Distinguish between a qualitative variable and . a quantitative variableCopyright © 2004 by The McGraw­Hill Companies, Inc. All rights reserved. 1 ­ 3. 5. Distinguish between a discrete variable and . a continuous variable. 6. Collect data from published and unpublished sources. 7. Distinguish among the nominal, ordinal, interval, . and ratio levels of measurement 8. Identify abuses of © 2004 by The McGraw­Hill Companies, Inc. All rights reserved. 1 ­ 4. 9. Gain an overview of the art and science of . statistics. We recommend that you read this chapter at least twice, . once at the beginning and once at the end of your course!.Copyright © 2004 by The McGraw­Hill Companies, Inc. All rights reserved. it is the art and science of . 1 ­ 5 collecting What . What organizing is. is . presenting data . . drawing inferences . from a . Meant . Meant sample of information . by . by . . about an entire population . Statistics?. Statistics? as well as . predicting and .Copyright © 2004 by The McGraw­Hill Companies, Inc. All rights reserved. developing policy analysis 1 ­ 6. in everyday lifeCopyright © 2004 by The McGraw­Hill Companies, Inc. All rights reserved. Who uses Statistics?. Who uses Statistics?. 1 ­ 7Those using Statistical techniques include :