Chapter2_STAT1100.ppt", filename="Chapter2_STAT1100.ppt", filename="Chapter2_STA

Chapter2_STAT1100.ppt", filename="Chapter2_STAT1100.ppt", filename="Chapter2_STA

Info iconThis preview shows pages 1–9. Sign up to view the full content.

View Full Document Right Arrow Icon
Graphical and Tabular Descriptive Techniques Statistics for Management and Economics Chapter 2 Updated: 05/07/09
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Objectives Types of Data and Information Graphical and Tabular Techniques for Nominal Data Graphical Techniques for Interval Data Describing the Relationship Between Two Variables Describing Time-Series Data
Background image of page 2
Types of data and information A variable is a characteristic of population or sample of interest Data, or data points, is the actual values of variables. There are three general types: Interval, Nominal and Ordinal We also commonly designate them: Quantitative or Categorical
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Types of data and information: Interval Data Real numbers, for example: heights, weights, prices, etc. Also referred to as quantitative or numerical . Arithmetic operations can be performed on Interval Data, thus it’s meaningful to talk about 2*Height, or Price + $1, and so on.
Background image of page 4
Types of data and information: Nominal Data Nominal data are also called qualitative or categorical . The values of nominal data are categories , for example: responses to questions about marital status, coded as Single = 1, Married = 2, Divorced = 3, Widowed = 4 Because the numbers are arbitrary arithmetic operations don’t make any sense (e.g. does Widowed ÷ 2 = Married?!)
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Types of data and information: Ordinal Data Ordinal Data appear to be categorical in nature, but their values have an order ; a ranking to them. For example, college course rating system: poor = 1, fair = 2, good = 3, very good = 4, excellent = 5. Order is maintained no matter what numeric values are assigned to each category. While it’s still not meaningful to do arithmetic on this data (e.g. does 2*fair = very good?!), we can say things like: excellent > poor or fair < very good
Background image of page 6
Types of data and information Cross-sectional data is data that is collected at a certain point in time Marketing survey Starting salaries of MBA graduates Longitudinal data is collected over a period of time. Sometimes also referred to as time-series data . Weekly starting prices of gold Daily bid price on posted e-Bay item
Background image of page 7

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Types of data and information Prospective data is collected from the current point into the future. Retrospective or historical data is collected on events that have happened in the past.
Background image of page 8
Image of page 9
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 06/25/2008 for the course BUSSPP MCE taught by Professor Atkins during the Spring '08 term at Pittsburgh.

Page1 / 32

Chapter2_STAT1100.ppt", filename="Chapter2_STAT1100.ppt", filename="Chapter2_STA

This preview shows document pages 1 - 9. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online