slides chapter 01 statistics for business and economics

8/9/2019 Slides Chapter 01 Statistics for Business and Economics

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Statistics

Chapter 1: Statistics, Data and Statistical Thinking


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McClave, Statistics, 11th ed. Chapter 1:Statistics, Data and Statistical Thinking

2

Where Were Going

Introdction to the !ield o! statistics

"o# statistics applies to real$#orld pro%le&s

'sta%lish the link %et#een statistics anddata

Di!!erentiate %et#een poplation and

sa&ple data Di!!erentiate %et#een descriptive and

in!erential statistics


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McClave, Statistics, 11th ed. Chapter 1:Statistics, Data and Statistical Thinking (

1.1: The Science o! Statistics

Statistics is the science o! data. This involves

collecting, classi!)ing, s&&ari*ing, organi*ing,

anal)*ing and interpreting n&erical

in!or&ation.


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McClave, Statistics, 11th ed. Chapter 1:Statistics, Data and Statistical Thinking +

1.2: T)pes o! Statistical

pplications


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McClave, Statistics, 11th ed. Chapter 1:Statistics, Data and Statistical Thinking -


pplications

Descriptive statistics tili*es n&erical

and graphical &ethods to look !or patterns

in a data set, to s&&ari*e the in!or&ationrevealed in a data set and to present that

in!or&ation in a convenient !or&.


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McClave, Statistics, 11th ed. Chapter 1:Statistics, Data and Statistical Thinking


pplications

Inferential statistics tili*es sa&ple data

to &ake esti&ates, decisions, predictions

or other generali*ations a%ot a larger seto! data.


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McClave, Statistics, 11th ed. Chapter 1:Statistics, Data and Statistical Thinking /

1.(: 0nda&ental 'le&ents o!

Statistics

n experimental unitis an o%ect

a%ot #hich #e collect data. erson

lace

Thing

'vent


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McClave, Statistics, 11th ed. Chapter 1:Statistics, Data and Statistical Thinking 3


Statistics

n population is a set o! nits in

#hich #e are interested. T)picall), there are too &an)

e4peri&ental nits in a poplation to

consider everyone. I! #e can e4a&ine ever) single one, #e

condct a census.


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Statistics

variableis a characteristic or

propert) o! an individal nit. The vales o! these characteristics #ill,

not srprisingl), var).


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Statistics

sampleis a

s%set o! the

poplation.


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Statistics

measure of reliabilityis a

state&ent a%ot the degree o!

ncertaint) associated #ith a statisticalin!erence.

7ased on or anal)sis, #e think -8 o! soda

drinkers pre!er epsi to Coke, 9 -8.


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StatisticsDescriptive Statistics The poplation or

sa&ple o! interest

ne or &ore varia%les to%e investigated

Ta%les, graphs or

n&erical s&&ar) tools

Identi!ication o! patternsin the data

Inferential Statistics

oplation o! interest

ne or &ore varia%les to

%e investigated The sa&ple o! poplation

nits

The in!erence a%ot the

poplation %ased on thesa&ple data

&easre o! relia%ilit) o!

the in!erence



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1.+: T)pes o! Data

Quantitative Data are &easre&ents

that are recorded on a natrall)

occrring n&erical scale. ge

G

Salar) Cost o! %ooks this se&ester

McClave, Statistics, 11th ed. Chapter 1:Statistics, Data and Statistical Thinking 1(


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1.+: T)pes o! Data

Qualitative Data are &easre&ents

that cannot %e recorded on a natral

n&erical scale, %t are recorded incategories. ;ear in school


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1.-: Collecting Data

McClave, Statistics, 11th ed. Chapter 1:Statistics, Data and Statistical Thinking 1-

%lished

Sorce

Designed

'4peri&ent Srve)

%servational

Std)

S>?C': >nited States Depart&ent o! gricltre

0oreign gricltral Service


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McClave, Statistics, 11th ed. Chapter 1:

Statistics, Data and Statistical Thinking

1

%lished Sorce @ornal

7ook

Ae#spaper

Maga*ine

B?elia%le We% Site


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1/

Designed '4peri&ent Strict control over the e4peri&ent and the

nits in the e4peri&ent


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13

Srve) Gallp, "arris and other polls

Aielsen


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15

%servational Std) %serve nits in natral settings

Ao control over %ehavior o! nits


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26

representative samplee4hi%its

characteristics t)pical o! those

possessed %) the target poplation. random sampleo! nnits is

selected in sch a #a) that ever)

di!!erent sa&ple o! si*e nhas thesa&e chance o! %eing selected.


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1.: The ?ole o! Statistics in

Critical Thinking



21

Statistical thinkinginvolves appl)ing

rational thoght and the science o!

statistics to criticall) assess data andin!erences.


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Critical Thinking



22

Selection bias reslts #hen a s%set

o! the e4peri&ental nits in the

poplation have %een e4clded so thatthese nits have no chance o! %eing

selected in the sa&ple. ANDON IN A ANDS IDE

In 1936 The Literary Digest predicts overnor !lf "andon of

#ansas $ould defeat %resident &oosevelt $ith '() of the

popular vote and 3(* electoral votes+ the result of polling

primarily affluent voters,


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Critical Thinking



2(

-onresponse bias reslts #hen the

researchers condcting a srve) or

std) are na%le to o%tain data on alle4peri&ental nits selected !or the

sa&ple.


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Critical Thinking



2+

.easurement errorre!ers to

inaccracies in the vales o! the data

recorded. In srve)s, this kind o! error&a) %e de to a&%igos or leading

estions and the intervie#ers e!!ect

on the respondent.EDo )o pre!er Candidate F, !ather o! three and chrch elder,

or Candidate ;, #ho got the no&ination despite his shad) pastH

slides chapter 01 statistics for business and economics

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