Data and Variables in Business Statistics – An Introduction (Week 1)

We begin Basic Business Statistics with an introduction to numbers and how they become variables. • Statistics give us a tool to evaluate claims of truth with the scientific method • We can use archival, observational, or experimental research • The practice, procedures, and products of statistics • Levels of Measurement - Nominal, Ordinal, Interval, Ratio • Nominal & Ordinal are categorical, qualitative variables • Interval & Ratio (Scale) are continuous, quantitative variables • Data can be cross-sectional or time-series data Lecture date: Thursday, January 14, 2021 Missouri State University Music: 248609_theBlues_15_Standard Source: Digital Juice Royalty Free Music