L01_220.pdf - ECO220Y1Y Course Overview Sampling Data and Describing Categorical Data Lecture 1 Reading Chapters 1 4 Includes ALL margin notes and boxes

L01_220.pdf - ECO220Y1Y Course Overview Sampling Data and...

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ECO220Y1Y, Lecture 1, Page 1 of 11 ECO220Y1Y: Course Overview, Sampling, Data, and Describing Categorical Data Reading: Chapters 1 – 4 1 Lecture 1 Includes ALL margin notes and boxes: “For Example,” “Guided Example,” “Notation Alert,” “Just Checking,” “Optional Math Boxes”, “What Can Go Wrong?” and “Ethics in Action” 2 Quantitative Methods in Economics: Some syllabus highlights Quercus course site (slides up before class) Sections L0201, L0301, L0401 What happens on Fridays from 9 – 11am? Usually, 50-minute interactive DACM TA tutorials Five 110-minute term tests Some 50-minute TA review tutorials (e.g. Friday, Sept 7) Use Piazza, not e-mail, for your questions Sign up: iClicker: Register your remote via Quercus Quercus quizzes 3 The 2017 edition is most convenient for you.
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ECO220Y1Y, Lecture 1, Page 2 of 11 Required Supplements to Textbook Readings page on Quercus gives you easy access The DACM Handbook for ECO220Y1Y Accept your invitation to the DACM Quercus site Your first DACM tutorial is this Friday, Sept. 14 th Read pages 1 to 20 of the handbook and take the necessary actions before arriving at your tutorial section Prerequisite Review with a Diagnostic Quiz Study for Quercus Quiz 1 and Test #1 Aid sheets (formulas and statistical tables) Logarithms in Regression Analysis with Asiaphoria The Normal Table: Read It, Use It 4 U of T 2017 Alumni Impact Survey To kick off key material (today!), a real survey Background & Methodology: “The total living U of T alumni population is about 545,000. The overall response rate was approximately 8% or just over 21,000 respondents.” 5 Source: University of Toronto website, Alumni page, Alumni Impact Survey, retrieved from on September 7, 2018. SURVEY RESPONDENTS COMPARED TO ALUMNI POPULATION SEGMENT # COMPLETES % COMPLETES % OF ALUMNI POPULATION Male 8,862 45.8 47.1 Female 10,472 54.1 52.8 Key Terms Population: set of all items of interest Sample: subset of the population Parameter: number describing a population Statistic: number describing a sample Descriptive statistics: describe a sample (data) Inferential statistics: make inference about a population and its parameters using data 6
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ECO220Y1Y, Lecture 1, Page 3 of 11 Probability versus Statistics 7 Probability asks: If I shake up the box (i.e. population) and randomly select 3 balls, what is in my hand (i.e. sample)? ? Inferential statistics asks: Given what is in my hand (i.e. sample) what is in the box (i.e. population)? ? Descriptive statistics says: I have 2 white and 1 solid balls 8 Parameters: Usually Greek Letters alpha iota rho beta kappa sigma chi lamda tao delta mu theta epsilon nu upsilon eta omikron omega phi pi xi gamma psi zeta 9
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