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Regression Analysis by J. Holton Wilson, Barry P. Keating

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Appendix

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 2012. The population would be all Abercrombie & Fitch stores that were in business ...

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