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By S. Christian Albright, Wayne Winston, Christopher Zappe

Facts research AND choice MAKING is a teach-by-example procedure, learner-friendly writing sort, and whole Excel integration concentrating on info research, modeling, and spreadsheet use in information and administration technological know-how.

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Extra resources for Data Analysis and Decision Making

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A data set is usually a rectangular array of data, with variables in columns and observations in rows. A variable (or field or attribute) is a characteristic of members of a population, such as height, gender, or salary. An observation (or case or record) is a list of all variable values for a single member of a population. 2 Basic Concepts 25 Copyright 2010 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s).

Indeed, algebraic models were the preferred type of model for years—and still are by many analysts. Their main drawback is that they require an ability to work with abstract mathematical symbols. Some people have this ability, but many perfectly intelligent people do not. 3 Spreadsheet Models An alternative to algebraic modeling is spreadsheet modeling. Instead of relating various quantities with algebraic equations and inequalities, you relate them in a spreadsheet with cell formulas. In our experience, this process is much more intuitive to most people.

Most voters in 1936 could barely make ends meet, let alone subscribe to a literary magazine. Thus, the typical lower-to-middle-income voter had almost no chance of being chosen in this sample. Today, Gallup, Harris, and other pollsters make a conscious effort to ensure that their samples—which usually include about 1000 to 1500 people—are representative of the population. (It is truly remarkable, for example, that a sample of 1500 voters can almost surely predict a candidate’s actual percentage of votes correctly to within 3%.

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