chapter 1. what is statistics? smartbook

How does statistics help us understand large amounts of numerical information?

A good working knowledge of statistics is useful to organize and summarize information.

The two categories of statistical study are:

Descriptive Statistics and Inferential Statistics

True or False: The primary purpose of statistics is to present numerical data.

False

Which of the following represents statistical information?

Lucky's Market sells a maximum of 240 kilograms of apples per month. The median income in Wasau County is $40,578 per year. On average there are 12.5 chocolate chips in a Chips Hello cookie.

Which of the following are examples of how organizations use statistics?

Retailers use product purchase data to manage the distribution of products and make marketing and sales decisions. Google uses search engine data records to prioritize results for future searches.

How has technology increased the need for statistical analysis?

Vast amounts of data are collected, and understanding it requires statistical knowledge.

Which of the following are examples of descriptive statistics?

Calculating summary measures if the prices of houses sold in Las Vegas in January. Creating a pie chart to show majors of students in your business statistics class.