MS5312 Business Statistics with R

MS5312 Business Statistics with R

Quote :
Statistics using R (2008) by Purohit, Gore and Deshmukh
Page : 1.1-1.2

1. . . . statistical methods are methods for making decisions in the face of uncertainty.

2. the outcome of an experiment is uncertain, but experience indicates that many repetitive operations or experiments behave as though they occurred under stable conditions.

3. This is so because despite the underlying variability, data often exhibit certain regularity.

4.Descriptive statistics, that is, study of sample data reveals pattern in the data. These patterns can often be used to construct mathematical models of repetitive operations.

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