Business Statistics

September 07, 2014 Adriana Ávila

Business Statistics Assignment



P 12 thru 18, 21 & 25 page 12

12. The difference between sample and population is that the population are the whole items or individuals that are involve into the group you want to reach a conclusion, while a sample is just a portion of a population selected for analysis.

13. The difference between statistic and parameter is that statistics is a measure that describes a sample characteristics while parameter is a measure that describes the characteristics of a population.

14. The difference between descriptive statistics and inferential statistics, is that descriptive statistics consist on collecting, summarizing, visualizing, presenting and analyzing data while inferential statistics consist on a method that use data collected from a small group as a reference to reach a conclusion about a larger group.

15. The difference between categorical variable and numerical variable, is that categorical variable is a qualitative method where variables have values that can only be placed into categories such a “yes” or “no”, while a numerical variable is a quantitative method where variables are represented by numbers.

16. The difference between discrete numerical variable and continuous numerical variable, is that discrete variables have values that arise from a counting process, while continuous variables have numerical values that arise from a measuring process.

17. An operational definition is a description of the variable in study, in order to understand what it represents and what its possible values are

21. Article: From Economy to Luxury, what matter most to hotel guest

a. The population of interest are the hotel guest based on the engagement and spending by segment b. The sample that was collected was divided by segments, Luxury, Upper Upscale, Upscale Upper Midscale, Midscale and Economy, analyzing the average spent at the hotel. c. The parameter of interest was the...