01a - BA 201: Statistics for Business and Economics I An...

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Jump to first page BA 201: Statistics for Business and Economics I An Overview
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Jump to first page Breakdown of the Course: Major Topics Basic Statistical Measures: Descriptive Statistics (Ch. 1) Statistical Deduction (Ch. 2-4) Statistical Induction (Ch. 5- end)
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Jump to first page Statistical Deduction Where you have full information about the entire group (population), you deduce what you expect to happen when you select an individual or a small group (sample).
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Jump to first page Examples of Deduction I am going to draw one of your names out of a hat. Guess the gender. The Birthday Game.
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Jump to first page Birthdays: Probability of my losing with various numbers of players 10 people: 0.883 20 people: 0.588 23 people: 0.493 (Breakeven) 30 people: 0.294 50 people: 0.030
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Jump to first page Statistical Induction or Inference Where you have full information about a small group (sample), you infer what you expect is true for the entire group (population).
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Jump to first page Examples of Inference Final Gallop Poll for 68 years (1936 – 2004) and 17 Presidential Elections Margin of Error of 3%
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Jump to first page Gallop Poll Results, 1936 - 1968 Democrat Republican Final Gallop Poll Actual - Predicted 1936 Roosevelt Landon 55.7% 44.3% 1940 Roosevelt Wilkie 52.0% 48.0% 1944 Roosevelt Dewey 51.5% 48.5% 1948 Truman
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01a - BA 201: Statistics for Business and Economics I An...

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