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lect1_L6_L7

# lect1_L6_L7 - lecture 1 lecture 1 Introduction Data...

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lecture 1 Introduction Data collection census sample Usefulness of Statistics in Business A hypothetical example lecture 1 Business Statistics Yingying Li ISOM 111 Fall 2009

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lecture 1 Introduction Data collection census sample Usefulness of Statistics in Business A hypothetical example lecture 1 Introduction What is statistics? Statistics is a science about how to collect data
lecture 1 Introduction Data collection census sample Usefulness of Statistics in Business A hypothetical example lecture 1 Introduction What is statistics? Statistics is a science about how to collect data summarize/present data

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lecture 1 Introduction Data collection census sample Usefulness of Statistics in Business A hypothetical example lecture 1 Introduction What is statistics? Statistics is a science about how to collect data summarize/present data and interpret data.
lecture 1 Introduction Data collection census sample Usefulness of Statistics in Business A hypothetical example lecture 1 Introduction Examples of data Example 1 Hong Kong unemployment rate: During 4/2009 - 6/2009, to determine the unemployment rate, the following data (hypothetical) has been collected: ID Employed or not 123456 Yes 334565 Yes 234567 No . . . . . . Summary 1 : Period Labor force Unemployed Unemployment rate (%) 4/2009 - 6/2009 3 709.2 K 203 K 5.5 5/2009 - 7/2009 3 719.0 K 213.8 K 5.7 1 based on http://www.censtatd.gov.hk/

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lecture 1 Introduction Data collection census sample Usefulness of Statistics in Business A hypothetical example lecture 1 Introduction Examples of data Example 2 : Hong Kong average monthly salary on Mar, 2009: To determine the average monthly salary across all industry sections, a survey was conducted and the following data (hypothetical) has been collected: ID industry section monthly salary A123456 Manufacturing 11,000 B234567 Financial & insurance activities 17,000 . . . . . . . . . Summary 2 : Industry Section All Sections Manufacturing Financial & insurance activities salary 10,917 11,658 16,527 2 based on http://www.censtatd.gov.hk/
lecture 1 Introduction Data collection census sample Usefulness of Statistics in Business A hypothetical example lecture 1 Introduction Populations and Variables Population: A set of existing units (usually people, objects or events) labor force in Example 1 all employees in industry Sections in Example 2

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lecture 1 Introduction Data collection census sample Usefulness of Statistics in Business A hypothetical example lecture 1 Introduction Populations and Variables Population: A set of existing units (usually people, objects or events) labor force in Example 1 all employees in industry Sections in Example 2 Variable: A measurable characteristic of the population employed or not in Example 1 (qualitative/categorical) monthly income in Example 2 (quantitative)
lecture 1 Introduction Data collection census sample Usefulness of Statistics in Business A hypothetical example lecture 1 Introduction Populations and Variables Population: A set of existing units (usually people, objects or events) labor force in Example 1

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lect1_L6_L7 - lecture 1 lecture 1 Introduction Data...

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