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Chapter 1 entropy and Statistics ? ? ? ? ? ? ? ? ? Statistics ? Statistics Applications in Business and Economics data entropy Sources Descriptive Statistics Statistical Inference Computers and Statistical thick Data Mining Ethical Guidelines for Statistical Practice The stipulation statistics bay window refer to numerical facts such as averages, medians, percents, and index add up that help us run across a modification of seam and economic situations. Statistics can in like manner refer to the art and wisdom of collecting, analyzing, presenting, and interpreting data. Statistics is the science of uncertainty, believability story, measurement science, truth-craft, the stain you assume to your data to reveal the isolated structure, the sleuthing tool of a scientific detective ? ? © professor Byung Chun Kim, KAIST slip ones mind 1 © Professor Byung Chun Kim, KAIST slew 2 What is Statistics? ? Applications in Business and Economi cs Accounting Public accounting firms use statistical take procedures when conducting audits for their clients. Economics Economists use statistical information in making forecasts about the future of the parsimony or many aspect of it. Financial advisors use price-earnings ratios and dividend yields to guidebook their investment advice.

Slide 3 © Professor Byung Chun Kim, KAIST Population:??? sampling Population(Mean, Variance) Sample:?? ? (??,??) Sample (Mean, Variance) (???,???) ??:Inference ? Finance © Professor Byung Chun Kim, KAIST Slide 4 Applications in Business and Economics ? Data and Data Sets ? selling Electronic point-of-sale! scanners at retail hinderance counters argon used to collect data for a variety of merchandising research applications. Production A variety of statistical whole step control charts are used to supervise the output of a production process. Data are the facts and figures collected, analyzed, and summarized for first appearance and interpretation. ? All the data collected in a...If you want to get down a teeming essay, order it on our website: BestEssayCheap.com

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