Principles of Business Statistics

Sampling and Data: Introduction

Learning Objectives

• Recognize and differentiate between key terms.
• Apply various types of sampling methods to data collection.
• Create and interpret frequency tables.

You are probably asking yourself the question, “When and where will I use statistics?”. If you read any newspaper or watch television, or use the Internet, you will see statistical information. There are statistics about crime, sports, education, politics, and real estate. Typically, when you read a newspaper article or watch a news program on television, you are given sample information. With this information, you may make a decision about the correctness of a statement, claim, or “fact.” Statistical methods can help you make the “best educated guess.”

Since you will undoubtedly be given statistical information at some point in your life, you need to know some techniques to analyze the information thoughtfully. Think about buying a house or managing a budget. Think about your chosen profession. The fields of economics, business, psychology, education, biology, law, computer science, police science, and early childhood development require at least one course in statistics. Included in this chapter are the basic ideas and words of probability and statistics. You will soon understand that statistics and probability work together. You will also learn how data are gathered and what “good” data are.

Sampling and Data: Statistics

The science of statistics deals with the collection, analysis, interpretation, and presentation of data. We see and use data in our everyday lives.