, CHAPTER
Introduction to Statistics
1
1.1 AN OVERVIEW OF STATISTICS
1.1 Try It Yourself Solutions
1a. The population consists of the prices per gallon of regular gasoline at all gasoline stations in the
United States. The sample consists of the prices per gallon of regular gasoline at the 800 surveyed
stations.
b. The data set consists of the 800 prices.
2a. Because the numerical measure of $5,150,694 is based on the entire collection of employee’s
salaries, it is from a population.
b. Because the numerical measure is a characteristic of a population, it is a parameter.
3a. Descriptive statistics involve the statement “31% support their kids financially until they graduate
college and 6% provide financial support until they start college.”
b. An inference drawn from the survey is that a higher percentage of parents support their kids
financially until they graduate college.
1.1 EXERCISE SOLUTIONS
1. A sample is a subset of a population.
2. It is usually impractical (too expensive and/or time consuming) to obtain all the population data.
3. A parameter is a numerical description of a population characteristic. A statistic is a numerical
description of a sample characteristic.
4. The two main branches of statistics are descriptive statistics and inferential statistics.
5. False. A statistic is a numerical measure that describes a sample characteristic.
6. True
7. True
8. False. Inferential statistics involves using a sample to draw conclusions about a population.
9. False. A population is the collection of all outcomes, responses, measurements, or counts that are
of interest.
10. False. A sample statistic can differ from sample to sample.
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller TestsBanks. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
