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Lesson 1
 

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Introductory course for business statsitics

Introductory course for business statsitics
Hanze University of Applied Sciences
International Business School (IBS)

Statistics

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    Lesson 1 Lesson 1 Presentation Transcript

    • Hanze University of Applied Science GroningenNing Ding, PhDLecturer of International BusinessSchool (IBS)n.ding@pl.hanze.nl
    • What we are going to learn? 1. Why they failed in STA1? 2. Chapter 1: What is statistics? 1. Why? What? 2. Types of statistics, variables 3. Levels of measurement 3. Chapter 2: Describing data 1. Frequency tables 2. Frequency distributions 3. Graphic presentation
    • Why they failed in Statistics?1. Why Failed in •Absent for the lessons;Statistics?2. Chapter 1:What is •Didn’t do the home assignments;Statistics?A.Why? What?B.Types of statistics, variables •Ignore the EXCEL lessons;C.Levels of measurement •Cannot use the theories flexibly;3. Chapter 2:Describing DataA.Frequency tables •Keep misconceptions andB.Frequency distributions misunderstanding till the exam;C.Graphic presentation •Overestimate self and underestimate the subject.
    • Statistics are everywhere.1. Why Failed inStatistics?2. Chapter 1:What isStatistics?A.Why? What?B.Types of statistics, variablesC.Levels of measurement3. Chapter 2:Describing DataA.Frequency tablesB.Frequency distributionsC.Graphic presentation
    • Statistics help you make decisions.1. Why Failed inStatistics?2. Chapter 1:What isStatistics?A.Why? What?B.Types of statistics, variablesC.Levels of measurement3. Chapter 2:Describing DataA.Frequency tablesB.Frequency distributionsC.Graphic presentation
    • Statistics help you make decisions.1. Why Failed inStatistics? Making decisions2. Chapter 1:What is Interpret dataStatistics?A.Why? What?B.Types of statistics, variablesC.Levels of Present data measurement Analyze data3. Chapter 2:Describing DataA.Frequency tablesB.Frequency distributions Organize dataC.Graphic presentation Collect data
    • Statistics help you make decisions.1. Why Failed in Statistics:Statistics?2. Chapter 1:What is The science of collecting, organizing, presenting,Statistics?A.Why? What? analyzing and interpreting data to assist in makingB.Types of statistics, more effective decisions. variablesC.Levels of measurement3. Chapter 2:Describing Data Descriptive Statistics: Inferential Statistics:A.Frequency tablesB.Frequency distributionsC.Graphic Methods of organizing, Methods used to estimate a presentation summarizing and presenting data property of a population on the in an informative way. basis of a sample.
    • Statistics help you make decisions.1. Why Failed in Descriptive Statistics: Inferential Statistics:Statistics?2. Chapter 1:What isStatistics?A.Why? What?B.Types of statistics, variablesC.Levels of measurement3. Chapter 2: Population:Describing DataA.Frequency tablesB.Frequency The entire set of individual or objects of distributions interest or the measurements obtainedC.Graphic presentation from all individuals or objects of interest. Sample: A portion, or part, of the population of interest.
    • Statistics help you make decisions.1. Why Failed in Inferential Statistics:Statistics?2. Chapter 1:What isStatistics?A.Why? What?B.Types of statistics, variablesC.Levels of measurement3. Chapter 2:Describing Data Sample:A.Frequency tablesB.Frequency distributions A portion, or part, of the population ofC.Graphic interest. presentation
    • Types of variables1. Why Failed in Qualitative:Statistics?2. Chapter 1: nonnumeric,What is attributeStatistics?A.Why? What?B.Types of statistics, variablesC.Levels of measurement Quantitative:3. Chapter 2:Describing DataA.Frequency tablesB.Frequency numerical distributionsC.Graphic presentation
    • Types of variables1. Why Failed inStatistics?2. Chapter 1:What isStatistics?A.Why? What?B.Types of statistics, variablesC.Levels of measurement3. Chapter 2:Describing DataA.Frequency tablesB.Frequency distributionsC.Graphic presentation Qualitative Quantitative
    • Types of variables1. Why Failed in Discrete countingStatistics?2. Chapter 1:What isStatistics?A.Why? What? Continuous measuringB.Types of statistics, variablesC.Levels of measurement Discrete Discrete Continuous Continuous Height3. Chapter 2:Describing Data Salary Class SizeA.Frequency tablesB.Frequency distributionsC.Graphic presentation
    • Levels of Measurement1. Why Failed inStatistics? Nominal:2. Chapter 1:What is •Data categories are represented by labels orStatistics?A.Why? What? names.B.Types of •Even when the labels are numerically coded, the statistics, variables data categories have no logical order.C.Levels of measurement Ordinal:3. Chapter 2:Describing Data •Data classifications are represented by sets ofA.Frequency tablesB.Frequency labels or names (high, medium, low) that have distributionsC.Graphic relative values. presentation •Because of the relative values, the data classified can be ranked or ordered.
    • Levels of Measurement1. Why Failed inStatistics? Nominal:2. Chapter 1: No logical orderWhat isStatistics?A.Why? What?B.Types of statistics, variablesC.Levels of measurement3. Chapter 2:Describing DataA.Frequency tablesB.Frequency distributionsC.Graphic presentation Ordinal: Ranked or ordered
    • Levels of Measurement1. Why Failed inStatistics? Interval:2. Chapter 1: •Similar to the ordinal level, with theWhat is additional property that meaningful amountsStatistics?A.Why? What? of differences between data values can beB.Types of statistics, determined. variables •There is no natural zero point.C.Levels of measurement3. Chapter 2:Describing Data Ratio:A.Frequency tables •The interval level with an inherent zero startingB.Frequency distributions point.C.Graphic presentation •Differences and ratios are meaningful for this level of measurement.
    • Levels of Measurement1. Why Failed inStatistics? Interval: Ratio:2. Chapter 1:What isStatistics? SalaryA.Why? What?B.Types of statistics, variablesC.Levels of measurement Distance Temperature IQ3. Chapter 2:Describing DataA.Frequency tablesB.Frequency distributionsC.Graphic presentation
    • Levels of Measurement1. Why Failed inStatistics?2. Chapter 1:What isStatistics?A.Why? What?B.Types of statistics, variablesC.Levels of measurement3. Chapter 2:Describing DataA.Frequency tablesB.Frequency distributionsC.Graphic presentation
    • Levels of Measurement1. Why Failed inStatistics?2. Chapter 1:What isStatistics?A.Why? What?B.Types of statistics, variablesC.Levels of measurement3. Chapter 2:Describing DataA.Frequency tablesB.Frequency distributionsC.Graphic presentation
    • Exercises 1-a1. Why Failed inStatistics? For each of the following, determine whether the group is a sample or a population. Please use your clicker to vote.2. Chapter 1:What isStatistics? a. Population b. SampleA.Why? What?B.Types of statistics, 1. The participants in a study of a new cholesterol drug. variablesC.Levels of measurement 2. The drivers who received a speeding ticket Kansas City last month.3. Chapter 2:Describing Data 3. Those on welfare in Cook County (Chicago), Illinois.A.Frequency tablesB.Frequency distributions 4. The 30 stocks reported as a part of the Dow Jones IndustrialC.Graphic presentation Average. P14. N.4 Ch.1
    • Exercises 1-a Refer to the Real Estate data at the back of the text,1. Why Failed in which report information on homes sold in theStatistics? Denver, Colorado, area last year. Consider the following variables:2. Chapter 1:What isStatistics? a. Selling price b. Number ofA.Why? What? bedroomsB.Types of statistics, c. Township variables d. Distance fromC.Levels of the city centre measurement 1. Qualitative variables are:3. Chapter 2:Describing DataA.Frequency tables 2. Quantitative variables are:B.Frequency distributionsC.Graphic 3. Level of measurement: a. nominal presentation 1. Selling price 2. Number of bedrooms b. ordinal c. interval 3. Township 4. Distance d. ratio P18. N.16 Ch.1
    • Describing Data1. Why Failed in Frequency Table:Statistics? •A grouping of qualitative data into mutually exclusive2. Chapter 1: classes showing the number of observations in eachWhat is class.Statistics?A.Why? What?B.Types of statistics, variablesC.Levels of measurement3. Chapter 2:Describing DataA.Frequency tablesB.Frequency distributionsC.Graphic presentation
    • Describing Data1. Why Failed inStatistics? Relative Class Frequencies:2. Chapter 1: •Show the fraction of the total number ofWhat is observations in each classStatistics?A.Why? What?B.Types of statistics, variablesC.Levels of measurement Relative Frequency3. Chapter 2:Describing DataA.Frequency 5/12 = 41.67% tablesB.Frequency 3/12=25.00% distributionsC.Graphic 4/12=33.33% presentation Total 12
    • Exercises 2-a A total of 1,000 residents in Minnesota were asked which season they1. Why Failed in preferred. The results were 100 liked winter best, 300 liked spring,Statistics? 400 liked summer, and 200 liked fall.2. Chapter 1:What isStatistics? If the data were summarized in a frequency table, how many classesA.Why? What? would be used? What would be the relative frequencies for eachB.Types of statistics, class? variablesC.Levels of measurement3. Chapter 2:Describing DataA.Frequency tablesB.Frequency distributionsC.Graphic presentation P27. N.3 .Ch.2
    • Graphic Presentation of Qualitative data1. Why Failed in Bar ChartStatistics? •The classes are reported on the horizontal axis •The class frequencies on the vertical axis2. Chapter 1:What is •The class frequencies are proportional to the heights of theStatistics? bars.A.Why? What?B.Types of statistics, variablesC.Levels of measurement3. Chapter 2:Describing DataA.Frequency tablesB.Frequency distributionsC.Graphic presentation
    • Graphic Presentation of Qualitative data1. Why Failed in Pie Chart:Statistics? •Shows the proportion or percent that each class represents of the total number of frequencies2. Chapter 1:What isStatistics?A.Why? What?B.Types of statistics, variablesC.Levels of measurement3. Chapter 2:Describing DataA.Frequency tablesB.Frequency distributionsC.Graphic presentation
    • Graphic Presentation of Qualitative data1. Why Failed inStatistics?2. Chapter 1:What isStatistics? Pie charts require that you include allA.Why? What? the categories that make up aB.Types of statistics, whole. variablesC.Levels of measurement Use them only when you want to emphasize each categorys relation3. Chapter 2:Describing Data to the whole.A.Frequency tablesB.Frequency distributionsC.Graphic presentation
    • Frequency Distributions Frequency Distribution:1. Why Failed inStatistics? •A grouping of data into mutually exclusive classes showing2. Chapter 1: the number of observations in each class.What isStatistics?A.Why? What?B.Types of statistics, variablesC.Levels of measurement3. Chapter 2:Describing DataA.Frequency tablesB.Frequency distributionsC.Graphic presentation
    • Frequency Distributions1. Why Failed inStatistics? •A grouping of data into mutually exclusive classes showing the number of observations in each class.2. Chapter 1:What isStatistics?A.Why? What?B.Types of statistics, variablesC.Levels of measurement3. Chapter 2:Describing DataA.Frequency tablesB.Frequency distributionsC.Graphic presentation
    • Frequency Distributions Step 1: Just enough recipe 2 to the k rule1. Why Failed in 22=4 23=8 24=16Statistics?2. Chapter 1: 25=32 26=64 27=128What is N=27 number of class=5Statistics?A.Why? What?B.Types of statistics, Step 2: Class Interval variablesC.Levels of measurement  (55-14)/5 ≈ 83. Chapter 2:Describing Data Step 3: Choose nice “round”A.Frequency boundaries 10 -< 20 4 tablesB.Frequency distributions 20 -< 30 1C.Graphic presentation Step 4: Try to avoid empty and 30 -< 40 10 open classes 40 -< 50 9 50 -< 60 3 N=27
    • Exercises 2-b1. Why Failed in A set of data consists of 45 observations between $0 and $29. WhatStatistics? size would you recommend for the class interval?2. Chapter 1: a. 4 b. 5 c. 6 d. 7What isStatistics?A.Why? What?B.Types of statistics, variablesC.Levels of measurement3. Chapter 2:Describing DataA.Frequency Hint 1: tablesB.Frequency 24 = 16, 25 = 32, 26 = 64, 27 = 128 distributionsC.Graphic Hint presentation 2: P33. N.8 .Ch.2
    • Exercises 2-b The Quick Change Oil Company has a number of outlets in the metropolitan1. Why Failed inStatistics? Seattle area. The daily number of oil changes at the Oak Street outlet in the past 20 days are:2. Chapter 1: 65 98 55 62 79 59 51 90 72 56What isStatistics? 70 62 66 80 94 79 63 73 71 85A.Why? What?B.Types of statistics, What class interval would you suggest? variablesC.Levels of measurement a. 8 b. 9 c. 10 d. 63. Chapter 2: Hint 1:Describing DataA.Frequency 26 = 64, 28 = 256, 29 = 512, 210 = 1024 tablesB.Frequency Hint distributionsC.Graphic presentation 2:
    • Exercises 2-b The Quick Change Oil Company has a number of outlets in the1. Why Failed in metropolitan Seattle area. The daily number of oil changes at the OakStatistics? Street outlet in the past 20 days are:2. Chapter 1:What isStatistics? 65 98 55 62 79 59 51 90 72 56A.Why? What?B.Types of 70 62 66 80 94 79 63 73 71 85 statistics, variablesC.Levels of measurement c. What lower limit would you recommend for the first class?3. Chapter 2:Describing Data c. 50A.Frequency tablesB.Frequency distributionsC.Graphic presentation P34. N.12.Ch.2
    • Graphic Presentation of Quantitative data1. Why Failed in a) HistogramStatistics? •The classes are marked on the horizontal axis •The class frequencies on the vertical axis2. Chapter 1: •The class frequencies are represented by the heights of the barsWhat isStatistics? and the bars are adjacent to each other.A.Why? What?B.Types of statistics, variablesC.Levels of measurement3. Chapter 2:Describing DataA.Frequency tablesB.Frequency distributionsC.Graphic presentation
    • Graphic Presentation of Quantitative data1. Why Failed in b) Polygon:Statistics? •The shape of a distribution •Similar to a histogram2. Chapter 1:What isStatistics?A.Why? What?B.Types of statistics, variablesC.Levels of measurement3. Chapter 2:Describing DataA.Frequency tablesB.Frequency distributionsC.Graphic presentation
    • Graphic Presentation of Quantitative data1. Why Failed in c) Cumulative frequency distribution:Statistics? used to determine how many or what proportion of the data values are below or above a certain value.2. Chapter 1:What is OgiveStatistics?A.Why? What?B.Types of statistics, variablesC.Levels of measurement3. Chapter 2:Describing DataA.Frequency tablesB.Frequency distributionsC.Graphic presentation
    • Cumulative Frequency1. Why Failed in frequency DistributionStatistics? distribution2.Why Failed in 1:1. Chapter WhatStatistics?is Statistics?2. Chapter 1:What is A. Why? What?Statistics?A.Why?Types of B. What?B.Types of statistics, statistics, variables variables C. Levels ofC.Levels of measurement measurement3.Chapter 2: 2:3. ChapterDescribing Data DataDescribingA.Frequency A. Frequency tables tablesB.Frequency B. Frequency distributions distributionsC.Graphic presentation C. Graphic presentation
    • What we have learnt?1. Why Failed inStatistics? 1. Why they failed in Statistics?2. Chapter 1:What isStatistics?A.Why? What? 2. Chapter 1: What is Statistics?B.Types of statistics, variables A. Why? What?C.Levels of measurement B. Types of statistics, variables C. Levels of measurement3. Chapter 2:Describing DataA.Frequency 3. Chapter 2: Describing Data tablesB.Frequency A. Frequency tables distributions B. Frequency distributionsC.Graphic presentation C. Graphic presentation