Unit 1 Learning Outcomes

Upon successful completion of this unit, you will be able to:

  • explain the importance of statistics to business;
  • explain the differences between quantitative and qualitative data, and identify examples of each type of data;
  • define and apply the following terms: data sets, mean, median, mode, standard deviation, and variance;
  • summarize and interpret data in a tabular format using frequency distributions and visually with histograms; and
  • explain how to use a spreadsheet to describe data sets, create frequency tables, and draw histograms, as well as perform these tasks.

Last modified: Thursday, 14 May 2015, 6:59 PM