statistics in business

Assignment Content

1. Purpose of Assignment 
   This assignment is to introduce students to the basic concepts in statistics and understand the terminology at the start of the class. 
   
   Assignment Steps 
   1.    Read and Understand Lind et al. (2021) Ch. 1 to discuss the following questions. Words are not counted but each question requires a substantive answer.
   
   2.    Use the Wk 1 Statistics in Business APA7 Paper Template
   
   • What is meant by statistics in business?
   • Explain the two primary types of statistics.
   • How do you differentiate between a population and a sample? Provide a realistic example of a population and a sample of that population.
   • What is the difference between a qualitative and a quantitative variable? Provide one example of a qualitative and a quantitative variable.
   • Describe the four levels of measurements. Give one example of each.