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COMM 214 Business Analytics - MIDTERM NOTES CHAPTER 1, 2 and 3 2025 Concordia University CA$21.45
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COMM 214 Business Analytics - MIDTERM NOTES CHAPTER 1, 2 and 3 2025 Concordia University
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COMM 214 Business Analytics - MIDTERM NOTES CHAPTER 1, 2 and 3 2025 Concordia University

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  • January 27, 2025
  • 21
  • 2024/2025
  • Class notes
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  • Chapter 1, 2 and 3

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  • comm 214 business analytics

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COMM 214 Business Analytics -
MIDTERM NOTES CHAPTER 1, 2 and 3
2025 Concordia University

CHAPTER 1, 2 and 3

Statistics is The science of • collecting, • organizing, • analyzing, • and interpreting
Data in order to make decisions.
Data Consist of information coming from observations, counts, measurements, or
responses. (row data, from individuals) (average data, of a sample)

Samples: we can't collect data from everybody so we sample and generalize.



Quantitative Data (numerical measurements):
discrete data: countable numbers like 0,1,2,3 etc

continuous data: infinitely many possible values that can be decimal. (ratio and interval).

Interval: no 0 starting point could also be negative (temperature, years).

Ratio: 0 starting point (height or prices (can’t be negative)




Qualitative data: non numerical entries, words for
example. (nominal and ordinal).
Nominal: data that consist of names, labels, or categories only, cannot be arranged in
an ordering scheme (none are better than the other).

Ordinal: that may be arranged in some order, but differences between data values either
cannot be determined or are meaningless. (ex: grades in letters in a class)




Descriptive Statistics Involves organizing, summarizing, and displaying data.
Inferential Statistics Involves using sample data to draw conclusions about a population.

,Descriptive Statistics

Collect data:
Observational study: An observational study observes individuals and measures
variables of interest but does not attempt to influence the responses.

Experiment: A treatment is applied to part of a population and responses are observed.

Simulation: Uses a mathematical or physical model to reproduce the conditions of a
situation or process.

Survey: An investigation of one or more characteristics of a population.



Sample data:
Simple Random Sample: Assign a number to each member of the population. Members
of the population that correspond to these numbers become members of the sample.

Stratified Sample: Divide a population into groups (strata) and select a random
sample from each group.

Cluster Sample: Divide the population into groups (clusters) and select all of the
members in one or more, but not all, of the clusters. (divide into zones)

Systematic Sample: Choose a starting value at random. Then choose every kth member
of the population.

Convenience Sample: Choose only members of the population that are easy to get (not
recommended)

, Presenting data:
Frequency Tables: lists classes (or categories) of values, along with frequencies (or
counts) of the number of values that fall into each class.

(Grouped Data)

Criteria for Building Classes: Classes must be mutually exclusive, Classes must be
all-inclusive, Classes should be of equal width, Empty classes should be avoided except
in the middle.




Histograms: A histogram is a bar chart with the bars drawn adjacent to each other
(usually without gaps).

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