Learning Objectives

1. Obtain an appreciation for the breadth of statistical applications in business and economics.

2. Understand the meaning of the terms elements, variables, and observations as they are used in

statistics.

3. Obtain an understanding of the difference between categorical, quantitative, cross-sectional, and

time series data.

4. Learn about the sources of data for statistical analysis both internal and external to the firm.

5. Be aware of how errors can arise in data.

6....