Lecture 2 ECN 221 Spring 2008

Lecture 2 ECN 221 Spring 2008 - Lecture 2 Ecn 221 Dr. Mayer...

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Unformatted text preview: Lecture 2 Ecn 221 Dr. Mayer Describing Data Describing Introductory Comment: Please read the whole Introductory chapter lightly). Remember the test is multiple choice so I can't ask you to draw figures. I can ask you to read figures. The lecture will present all that you need to focus on for the midterm and what you need to do for the calculations for the homework. You should draw all the figures required in the homework but not focus on the details. Describing Qualitative Data Describing Chapter Introduction: I like the ethics example presented Chapter on page 39 and then returned to often. Please read it and be prepared to discuss it be Section 2.1: Very simple read it and understand definitions Section and figures – Notice how ugly the tables on page 4-45 are. Pie charts are worthless What is misleading about the data in Table 2.1 Why is Table 2.1 called a Table but Figure 2.1 called a Figure? Both Why are Tables are Describing Quantitative Data Describing Section 2.2: Very simple - read it and understand Section definitions and figures – I love boxplots and stem and leaf plots Show that you can use these methods in the homework Measures of Central Tendency Measures Section 2.3: Summation – Yawn! Section 2.4: The measures Know what the mean and median are Know how each is affected by skewness Know the difference between sample and population mean Measures of Variability Measures Section 2.5 – The measures - read Understand the notion of variability Understand Understand why it is important in statistics Understand the standard deviation Section 2.6 Interpreting Variability - read I llove the Empirical Rule ove I love Chebyshev’s inequality Measures of Relative Standing Measures Section 2.7: Read lightly Understand percentiles Understand quartiles Understand z-scores Outliers and Miscellaneous Topics Outliers Section 2.8: Outliers: Read lightly - Understand the notion Section of an outlier and why it is a problem in statistical analysis Section 2.9: Bivariate Relationships - Read lightly Section Understand the effect of outliers on these plots Understand Section 2.10: Time Series Plot: Read lightly – Understand Section the difference between a bivariate plot and a time-series plot plot Section 2.11: Distorting the Truth: Read lightly – Be Section prepared to explain why these are not examples of the not major distortions in statistical analyses as used in business. ...
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This note was uploaded on 11/07/2009 for the course ECN 221 taught by Professor Roberts during the Spring '07 term at ASU.

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