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# Introduction

Learning Objectives

• #  Involves managerial approaches like Six Sigma

Descriptive Statistics

• #  e.g., The sample mean

Inferential Statistics

# individuals based on a smaller group.

Basic Vocabulary of Statistics

## with an analysis.

Basic Vocabulary of Statistics

## STATISTIC A statistic is a numerical measure that describes a characteristic of a sample.

Population vs. Sample

# This Book Is Organized To Show

The Four Uses Of Statistics

• #  To improve business processes (Chapter 18)

Types of Variables

• #  Continuous variables arise from a measuring process

Types of Variables
Variables
Categorical
Numerical
Examples:
Marital Status
Discrete
Continuous
Political Party

### (Measured characteristics)

Levels of Measurement

# A nominal scale classifies data into distinct categories in which no ranking is implied.

### Categories

Personal Computer Ownership

Type of Stocks Owned

Internet Provider

Yes / No

Growth / Value / Other

Microsoft Network / AOL/ Other

Levels of Measurement (con’t.)

# An ordinal scale classifies data into distinct categories in which ranking is implied

### A, B, C, D, F

Levels of Measurement (con’t.)

• #  A ratio scale is an ordered scale in which the difference between the measurements is a meaningful quantity and the measurements have a true zero point.

Interval and Ratio Scales
Chapter Summary