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Describe the role and purpose of statistics

Assignment Help Business Economics
Reference no: EM131547777

Statistics in Business

Purpose of Assignment

The purpose of this assignment is to introduce students to the basic concepts in statistics and understand the terminology before the start of the class.

Assignment Steps

Resources: Statistical Techniques in Business and Economics, Ch. 1.

Refer to Ch. 1 of Statistical Techniques in Business and Economics and address the following in 1,050 words:
- Describe the role and purpose of statistics.
- Explain the primary types of statistics.
- Contrast a population and a sample.
- Compare the difference between a qualitative and quantitative variable. Provide one example of each.
- Describe the four different levels of measurements. Give one example of each.

Format your paper consistent with APA guidelines.

Verified Expert

This task provides a clear description on primary types of statistics. Median is the appropriate measure of central tendency as it is not affected by outliers or extreme values. When the population from which the sample is taken is normally distributed, then mean is the appropriate measures of central tendency

Reference no: EM131547777

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