Business Statistics QBA 210
Chapter 1: Data and Statistics
1. Data and Statistics: There are two classifications of data.

______________________________: statistical analyses are rather limited; we can
summarize this data by counting the number of observations in each category and
computing the proportion of the observations in each category

______________________________: indicates how may or how much of the variable;
ordinary arithmetic operations are meaningful; more alternatives for statistical analysis
are available for this data
Assume you are the researcher gathering data on PSU students. Complete the second column
of the table by identifying the type of variable that will be created for each survey question.
SURVEY QUESTION
1. How many textbooks or e-books did
you purchase this semester?
2. How many hours per week do you
spend on social media?
3. Are you a subscriber to Netflix?
(Yes, No)
4. Which type of device (desktop, laptop,
tablet, smartphone) do you use most
often when accessing the internet?
5. What is the distance in miles from
your home to PSU campus?
TYPE OF VARIABLE
2. Two Types of Data Sources:
A.) _____________________________: data that has already been collected for other
purposes. There are two types of this data source:
o
________________________________
o
________________________________
Examples of this data source include:
o
o
o
o
o
o
____________________________
____________________________
____________________________
____________________________
____________________________
____________________________
B.) ______________________________: data that comes from conducting statistical
studies. There are three main ways to collect this type of data:
a. ________________________________
b. ________________________________
c. ________________________________
3. Name and explain the two main branches of statistics.

1._____________________________________________________________________
______________________________________________________________________

2. ____________________________________________________________________
______________________________________________________________________
4. Parameters and Statistics:

What is the difference between a parameter and a statistic?

Complete the table and become familiar with the symbols for parameters and statistics:
POPULATION
SAMPLE STATISTIC
PARAMETER
MEAN
VARIANCE
STANDARD DEVIATION
PROPORTION
5. Three Types of Analytics:

_____________________________: describes what has happened in the past
o
Examples include:

_____________________________: uses models constructed from past data to predict
the future or to assess the impact of one variable on another

_____________________________: used to determine the best course of action to take
6. Define “Big Data”:
7. What are the 3 Vs of “Big Data”?

______________________________________________

______________________________________________

______________________________________________
8. What is meant by “Data Mining”?