Download Business Statistics Demystified: A Self Teaching Guide by Steven M. Kemp, Sid Kemp, Steven Kemp PDF

By Steven M. Kemp, Sid Kemp, Steven Kemp

ISBN-10: 0071440240

ISBN-13: 9780071440240

Say so long to dry shows, grueling formulation, and summary theories that may positioned Einstein to sleep -- now there's a neater approach to grasp the disciplines you actually need to grasp.

McGraw-Hill's Demystified Series teaches complicated matters in a distinct, easy-to-absorb demeanour, and is ideal for clients with no formal education or limitless time. They're additionally the main time-efficient, apparently written "brush-ups" you will find.

prepared as self-teaching publications, they arrive entire with key issues, heritage details, questions on the finish of every bankruptcy, or even ultimate tests. You'll manage to examine extra in much less time, evaluation your parts of power and weak spot and make stronger your wisdom and self assurance.

This self-teaching advisor brings company facts right down to an comprehensible point, utilizing useful examples. insurance contains: chance, research of variance, designed experiments, getting ready statistical reviews, uncomplicated statistical tactics, and masses extra.

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Additional resources for Business Statistics Demystified: A Self Teaching Guide

Example text

There is an interesting relationship between reliability and validity. Our measurements can’t be any more valid than they are reliable. The amount of reliability is a ceiling on the amount of validity. This is true with precision and accuracy as well. We can be perfectly precise and very inaccurate. In golf, if I hook badly, it doesn’t matter if my spread is perfect. If it was, I might find myself always missing the hole to the left by exactly ten and a half feet. Strange, but possible. A statistician would say that my shot was biased and invalid, but highly reliable.

When there is only one way to measure something, the problems of assessing validity become much more difficult. Because of these two facts about the relationship between reliability and validity, in statistics, we always consider reliability first. First of all, reliability is easier to measure, because we don’t have to know where the target is. This is the opposite of archery and golf, where we can see the target, and so the easiest thing is to evaluate each shot with respect to the target. Even more importantly, because our measurements can be no more valid than they are reliable, it makes no sense to attempt to check our validity if our measurements are all over the place.

CHAPTER 2 What Is Statistics? 23 Variable. A mathematical abstraction that can take on multiple values. In statistics, each variable usually corresponds to some measurable feature of the subject. Each measurement usually results in one value of that variable. Unit. (Short for unit of measurement. ) For some types of measurement, the particular standard measure used to define the meaning of the number, one. , are all units of measurement. When we say something weighs two and a half pounds, we mean that it weighs two and a half times as much as a standard pound measure.

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Business Statistics Demystified: A Self Teaching Guide by Steven M. Kemp, Sid Kemp, Steven Kemp

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