Module 1:Introduction to Statistics

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Statistics in Business

What is Statistics?

• Science or Math or BOTH?• Numerical Measurement• Statistical Process– Collect– Analyze– Interpret– Present

Branches of Statistics

Definitions. . .

• Census

• Population

• Sample

Population vs. Samples

Population vs. Samples

• Mean

• Variance

• Standard Deviation

• Proportion

• Mean

• Variance

• Standard Deviation

• Proportion

Inferential Statistics

Levels of Data: Nominal

Levels of Data: Ordinal

Levels of Data: Interval

Levels of Data: Ratio

What can you do with that?

TYPE OF DATA

Nominal

Ordinal

Interval

Ratio

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