Mid term case
Lin21477_ch01_001-020.qxd
8/26/11
2:10 PM
Page 1
What Is Statistics?
1
Learning Objectives
Goals
When you have completed this chapter, you will be able to:
LO 1-1 List ways that
1 Organize data into a frequency distribution. statistics is used.
FPO
LO 1-2 Know the differences
2 Portray a frequency distribution in a histogram, frequency between descriptive and polygon, and cumulative freinferential statistics. quency polygon.
LO 1-3 Understand the differ3 Present data a sample and a ences between using such graphical techniques as line population. charts, bar charts, and pie
LO 1-4 charts. Explain the difference between qualitative and quantitative variables.
LO 1-5 Compare discrete and continuous variables.
LO 1-6 Recognize the levels of measurement in data.
Barnes & Noble recently began selling an electronic book reader called the Nook Color. With this device, you can download from a selection of over two million ebooks, newspapers, and magazines. It displays downloaded materials in full color. Assume you know the number of
Nook Color units sold each day for the last month at the Barnes &
Noble store at the Market Commons Mall in Riverside, California.
Describe a condition in which this information could be considered a sample. Illustrate a second situation in which the same data would be regarded as a population. (See Exercise 11 and LO 1-3.)
Lin21477_ch01_001-020.qxd
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Page 2
Chapter 1
1.1 Introduction
More than 100 years ago, H. G. Wells, an English author and historian, suggested that one day quantitative reasoning will be as necessary for effective citizenship as the ability to read. He made no mention of business because the Industrial Revolution was just beginning. Mr. Wells could not have been more correct. While “business experience,” some “thoughtful guesswork,” and “intuition” are key attributes of successful managers, today’s business problems tend to
be
8/26/11
2:10 PM
Page 1
What Is Statistics?
1
Learning Objectives
Goals
When you have completed this chapter, you will be able to:
LO 1-1 List ways that
1 Organize data into a frequency distribution. statistics is used.
FPO
LO 1-2 Know the differences
2 Portray a frequency distribution in a histogram, frequency between descriptive and polygon, and cumulative freinferential statistics. quency polygon.
LO 1-3 Understand the differ3 Present data a sample and a ences between using such graphical techniques as line population. charts, bar charts, and pie
LO 1-4 charts. Explain the difference between qualitative and quantitative variables.
LO 1-5 Compare discrete and continuous variables.
LO 1-6 Recognize the levels of measurement in data.
Barnes & Noble recently began selling an electronic book reader called the Nook Color. With this device, you can download from a selection of over two million ebooks, newspapers, and magazines. It displays downloaded materials in full color. Assume you know the number of
Nook Color units sold each day for the last month at the Barnes &
Noble store at the Market Commons Mall in Riverside, California.
Describe a condition in which this information could be considered a sample. Illustrate a second situation in which the same data would be regarded as a population. (See Exercise 11 and LO 1-3.)
Lin21477_ch01_001-020.qxd
2
8/26/11
2:10 PM
Page 2
Chapter 1
1.1 Introduction
More than 100 years ago, H. G. Wells, an English author and historian, suggested that one day quantitative reasoning will be as necessary for effective citizenship as the ability to read. He made no mention of business because the Industrial Revolution was just beginning. Mr. Wells could not have been more correct. While “business experience,” some “thoughtful guesswork,” and “intuition” are key attributes of successful managers, today’s business problems tend to
be