Some Statistical Background

You often use statistics to describe data. In doing so, measures of central tendency and measures of dispersion are often used. In this appendix you will have a chance to review these concepts. Doing so may help you better understand some aspects of regression analysis.

Population versus Sample

Before discussing some descriptive statistics let us take a little detour to talk about populations and samples. A population represents the entire list of all possible measurement units. Some examples might help you understand this. Suppose you are interested in developing a model for sales at individual Abercrombie & Fitch stores in 2016. The population would be all Abercrombie & Fitch stores that were in business ...

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