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a. Why a manager needs to know about statistics b. The growth and development of modern statistics c. Statistical thinking and modern statistics d. Descriptive versus inferential statistics e. The need for data f. Data source g. Types of data and measurement scales
Statistical Methods
Behavioral Tool
A population is the totality of items or things under consideration A sample is the portion of the population that is selected for analysis A parameter is a summary measure that is computed to describe a characteristic of an entire population A statistic is a summary measure that is computed to describe a characteristic from only a sample of the population
f. Data source
The data collector is the primary source The data compiler is the secondary source
Four main reasons for collecting data : -to provide input to a research study -To measure performance -To enhance decision making -To satisfy our curiosity
GIGO
Question type
Do you currently own a house? Magazines subscribed?
Responses
Yes No --- number
Contous
--- inches
Types of measurement scales : a. Nominal scale b. Ordinal scale c. Interval scale d. Ratio scale The need for operational definitions
An operational definition provides a meaning to a concept or variable that can be communicated to other individuals. It is something that has the same meaning yesterday, today and tomorrow to all individuals
Types of samples Non-probability sample and probability sample Non-probability sample such as judgment sample, quota sampling and chunk sampling.
A probability sample is one in which the subjects of the sample are chosen on the basis of known probabilities. - Simple random sample - Systematic sample - Stratified sample - Cluster sample