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2103 CH 001 INTRODUCTION STUDY GUIDE CLASS NOTES AUG 30, SEPT 1 Wednesday, August 30, 20111:50 AM Chapter One: Statistics, Data, and Statistical Thinking Statistics: What do we mean by Statistics Weather This is based on a complete data set, more a population Sports This is based on data from every single instance of performance, more like a census of performance Financial Again, financial data represents all possible data points, a population of figures for a particular investment or company, or entity, and is not a “sampling” of instances Research based This is the type of statistics we will be looking at. Consider that in the conduct of Marketing Research for a new product, say iPhone7, Apple does not survey the entire population of all mobile phone users. Instead, they arri