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STATISTIC
PARAMETER
•
• measure that describes a population
• Usually denoted by Greek Letters
MEAN
VARIANCE
STANDARD DEVIATION
STATISTICS
• a branch of mathematics dealing with the
collection, analysis, interpretation, and
presentation of masses of numerical data
STATISTIC
Is a measure that describes a sample
Usually denoted by Roman letters
Population Mean
•
∑ 𝑥 74
𝜇= = =12.33
𝑁 6
OUTLETS x (NO. OF OUTLETS x (NO. OF
WORKERS) WORKERS)
1 12 1 12
2 10 2 10
3 11 3 11
4 15 4 15
5 12 5 12
6 2 6 30
Population Variance and Standard
Deviation
••
30 32 34 38 28 36 40 31
35 34 33 30 37 40 30 40
30 32 34 38 28 36 40 31
35 34 33 30 37 40 30 40
30 32 34 38 28 36 40 31
35 34 33 30 37 40 30 40