class01 - Data Types, Data Display and Summary Statistics...

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Statistics for Business Control and Regression Analysis – Fall 2008 1 Data Types, Data Display and Data Types, Data Display and Summary Statistics Summary Statistics
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Statistics for Business Control and Regression Analysis – Fall 2008 2 Types of Data Types of Data Quantitative or Qualitative? Quantitative: presented as numbers permitting arithmetic Interest rate Temperature Qualitative (categorical): everything else Country of birth Supplier
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Statistics for Business Control and Regression Analysis – Fall 2008 3 Types of Data Types of Data Univariate or Multivariate? Univariate: one fact for each object in a dataset (“one column in a spreadsheet”) Multivariate: two or more facts for each object in a dataset (“many columns in a spreadsheet”)
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Statistics for Business Control and Regression Analysis – Fall 2008 4 Types of Data Types of Data Discrete or Continuous? Discrete: counted Cars sold Number of children Continuous: measured (always allow “in-between” values) Gallons of oil sold Temperature What about age? Money?
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Statistics for Business Control and Regression Analysis – Fall 2008 5 Types of Data Types of Data Ordinal Data Definition: “Qualitative data that has an ordering” Example – Likert Scale: disagree strongly < disagree < neutral < agree < agree strongly Often “measure” with numbers: 1 = disagree strongly 2 = disagree 5 = agree strongly
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Statistics for Business Control and Regression Analysis – Fall 2008 6 Types of Data Types of Data Nominal Data Definition: “Qualitative data that has no ordering” Example – Car Manufacturer: Nissan, Honda, Chevy, Ford, Mazda, Toyota, …
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Statistics for Business Control and Regression Analysis – Fall 2008 7 Types of Data Types of Data Time Series or Cross-Sectional? Time series: when time sequencing is important US historical inflation rates A baby’s weight Cross-sectional: data are contemporaneous, or time doesn’t matter 2004 inflation rates for several countries Weight at birth
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– Fall 2008 8 Data Display Data Display In an MBA class, know about each student:
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class01 - Data Types, Data Display and Summary Statistics...

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