Chapter 1 – What is Statistics?

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Presentation transcript:

Chapter 1 – What is Statistics? Statistics for Management and Economics-Sixth Edition Gerald Keller – Brian Warrack Chapter 1 – What is Statistics?

Key Statistical Concepts A population is the group of all items of interest to a statistics practitioners. It is frequently very large. A descriptive measure of a population is called a parameter. The parameter of interest in Case 12.1 is the mean number of soft drinks consumed by all the students at the university.

Key Statistical Concepts A sample is a set of data drawn from the population. A descriptive measure of a sample is called statistic.

Figure A1.1 Blank Excel screen

Figure A1.2 Blank Excel screen

Data Analysis (Excel) The Analysis ToolPak is a group of statistical functions that come with Excel. Click Tools and Data Analysis… If Data Analysis… does not appear, click Adds-Ins… and select Analysis ToolPak.