QBUS5001-Chapter-1

BUSINESSSCHOOLQBUS5001Chapter1AWhatisStatistics?DrBorisChoyforQBUS5001(S2,2014)DisciplineofBusinessAnalyticsDrBorisChoyUSYDQBUS5001DrBorisChoyCopyright:TheUniversityofSydney,Australia2Topicscovered1.Keystatisticalconcepts2.Typeofdata3.Graphicalandtabulartechniquesforpresentingdata4.DescriptivemeasuresofcentrallocationandvariabilityReferencesSSK(6thEdition)1.1–1.5,2.1,3.1-3.4,4.1-4.4,5.1-5.4SSK(5thEdition)1.1–1.5,2.1-2.5,3.1-3.3,4.1-4.4MustRead:Appendix–IntroductiontoMSExcel(p.13-p.16)3WhatisStatistics(SSK1.1-1.5)USYDQBUS5001DrBorisChoyCopyright:TheUniversityofSydney,Australia4Statisticsisabodyofprinciplesandmethodsconcernedwithextractingusefulinformationfromasetofdatafordecisionmaking.RawdataReadSSKExamples1.1,1.2and1.3.IntroductiontoStatisticsUSYDQBUS5001DrBorisChoyCopyright:TheUniversityofSydney,Australia5Statisticscanbedividedintotwoareas:Descriptivestatistics&InferentialstatisticsDescriptivestatistics–organise,summariseandpresentdatausinggraphicalmethodsornumericaltechniques.HistogramMean(average)=71.0Standarddeviation(SD)=10.5Inferencestatistics–makeinferenceaboutcharacteristicsofapopulation.IntroductiontoStatisticsUSYDQBUS5001DrBorisChoyCopyright:TheUniversityofSydney,Australia6Whatisapopulation?Whatisasample?Whatisaparameter?Whatisastatistic?Whatisaconfidencelevel?Whatisasignificancelevel?ReadSSK1.2,1.3,1.4and1.5.ReadSSKAppendix1.AnIntroductiontoMSExcel(p.13-p.16)KeyStatisticalConcepts7TypeofData(SSK2.1)USYDQBUS5001DrBorisChoyCopyright:TheUniversityofSydney,Australia8Whatisarandomvariable(r.v.)?Whatarenumerical/quantitative/intervaldata?Whatarenominal/qualitative/categoricaldata?Whatareordinal/rankeddata?Whatarecross-sectionaldata?Whataretimeseriesdata?TypeofData9Graphical&TabularTechniquesforDataDescription(SSK3.1–3.4,4.1–4.4)USYDQBUS5001DrBorisChoyCopyright:TheUniversityofSydney,Australia10Presentingnominaldata-Barchart(SSKFigure3.1)-Piechart(SSKFigure3.2)Presentingnumericaldata-Frequencypolygonandrelativefrequencypolygon(SSKFigure4.8)-Cumulativerelativefrequencydistribution/Ogive(SSKFig.4.9)-Histogram(SSKFigures4.4–4.7)-Stem-and-leafplot/display(SSKTable4.5)Presentingtime-seriesdata-Timeserieschart(SSKFigure4.10)Graphical&TabularMethodsUSYDQBUS5001DrBorisChoyCopyright:TheUniversityofSydney,Australia11Fornominaldata-Cross-classificationtable(SSKTable3.9)-Barcharts(SSKFigure3.15)Fornumericaldata-Scatterplot(SSKFigures4.12&4.13)RelationshipBetween2VariablesUSYDQBUS5001DrBorisChoyCopyright:TheUniversityofSydney,Australia12Howtoachievegraphicalexcellence?Whatarethepossiblemethodsofgraphicaldeception?Howtopresentstatisticsinawrittenreportoranoralpresentation?GraphicalExcellence&Deception13NumericalDescriptiveMeasures(SSK5.1-5.4)USYDQBUS5001DrBorisChoyCopyright:TheUniversityofSydney,Australia14Whatisaparameterofapopulation?Whatarepossiblemeasuresofcentrallocation?Whatisthemeanofapopulation(populationmean)?Whatisthemeanofasample(samplemean)?Whatisthedifferencebetweenapopulationmeanandasamplemean?Whatisthemedian?Whatisthemode?Whichoneofthemean,medianandmodeisthebestmeasureofacentrallocation?Whatarethemeasuresofcentrallocationforordinalandnominaldata?MeasuresofCentralLocationUSYDQBUS5001DrBorisChoyCopyright:TheUniversityofSydney,Australia15Whatarepossiblemeasuresofvariability?Whatistherange?Whatisthemeanabsolutiondeviation(MAD)?Whatisthepopulationvariance?Whatisthesamplevariance?Whatisthestandarddeviation?Whatistheinterpretationofthestandarddeviation?WhatistheChebyshev’sTheorem?Whatisthecoefficientofvariation(CV)?Whatarethemeasuresofvariabilityforordinalandnominaldata?MeasuresofVariabilityUSYDQBUS5001DrBorisChoyCopyright:TheUniversityofSydney,Australia16Whatisapercentile?Whatisthelowerquartileorfirstquartile?Whatistheupperquartileorthirdquartile?Whatistheinter-quartilerange(IQR)?Whatisabox-and-whiskerplot(boxplot)?Whatisanoutlier(extremevalue)?Howtofindthemean,standarddeviationandvarianceforgroupeddata?Doyouknowwhatdoesthismean?MeasuresofVariability∑=niix1USYDQBUS5001DrBorisChoyCopyright:TheUniversityofSydney,Australia176th5th6th5th6th5th1.11.13.12.25.14.11.21.23.22.25.24.21.31.33.32.25.34.31.41.43.42.55.44.41.51.54.12.35.54.52.12.14.22.45.64.62.26.14.32.52.36.24.43.1+3.22.46.32.56.46thEditionvs5thEditionBUSINESSSCHOOLQBUS5001Chapter1BDataCollectionandSamplingDrBorisChoyforQBUS5001(S2,2014)DisciplineofBusinessAnalyticsDrBorisChoyUSYDQBUS5001DrBorisChoyCopyright:TheUniversityofSydney,Australia2Topicscovered1.SourcesofData2.Sampling&SamplingPlans3.SamplingandNon-samplingErrors4.DescriptiveStatisticsReferencesSSK2.1–2.5,5.1–5.2MustReadSummationnotationSSKp.197-200DataCollection&SamplingUSYDQBUS5001DrBorisChoyCopyright:TheUniversityofSydney,Australia3UnderstandthesourcesofdataUnderstandsamplingplansfordatacollectionUnderstandsamplingandnon-samplingerrorsCalculatenumericalmeasuresoflocationandvariabilityUnderstandthedifferencesbetweenvariousmeasuresoflocationandvariabilityAbletocomparerisksusingthecoefficientofvari