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Study Guide for Statistics for Business and Financial Economics
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Statistics is an approach that allows us to systematically organize, present, and ana- lyze data. There are two basic uses of statistics: to compare or describe data and to make inferences about the population based on the data. When statistics is used to describe or to summarize, we call it descriptive statistics. Examples of descriptive statistics include average points per game for a basketball player, average yards rushing for a football player, grade point average (GPA), and the average salary a graduating senior receives. Descriptive statistics also enables us to make compari- sons. For example, if you received a score of 80 on your statistics midterm, it would be difficult for you to know how well you did without knowing how other students in the class performed. By looking at the class average, you can compare your score to the performance of the rest of the class.
Ronald L. Moy • Li-Shya Chen • Lie Jane Kao - Personal Name
978-3-319-11997-7
NONE
Business Policy and Strategy
English
2015
1-359
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