1.0: Introduction to Sampling and Data

Business Statistics · LibreTexts

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    From LibreTexts, under CC BY 4.0, as the source states it; its equations are written in TeX, which the PDF shows typeset. This page at LibreTexts.

    You are probably asking yourself the question, "When and where will I use statistics?" If you read any newspaper, watch television, or use the Internet, you will see statistical information. There are statistics about crime, sports, education, politics, and real estate. Typically, when you read a newspaper article or watch a television news program, you are given sample information. With this information, you may make a decision about the correctness of a statement, claim, or "fact." Statistical methods can help you make the "best educated guess."

    This photo shows a large open news room with enough space to seat about 200 employees.
    Figure \(\PageIndex{1}\) We encounter statistics in our daily lives more often than we probably realize and from many different sources, like the news. (credit: David Sim)

    Since you will undoubtedly be given statistical information at some point in your life, you need to know some techniques for analyzing the information thoughtfully. Think about buying a house or managing a budget. Think about your chosen profession. The fields of economics, business, psychology, education, biology, law, computer science, police science, and early childhood development require at least one course in statistics.

    Included in this chapter are the basic ideas and words of probability and statistics. You will soon understand that statistics and probability work together. You will also learn how data are gathered and what "good" data can be distinguished from "bad."

    This page titled 1.0: Introduction to Sampling and Data was last modified on Mon, 17 Mar 2025 07:04:51 GMT and is shared under a CC BY 4.0 license and was authored, remixed, and/or curated by OpenStax via source content that was edited to the style and standards of the LibreTexts platform.