This preview shows pages 1–10. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.
View Full DocumentThis preview has intentionally blurred sections. Sign up to view the full version.
View Full DocumentThis preview has intentionally blurred sections. Sign up to view the full version.
View Full DocumentThis preview has intentionally blurred sections. Sign up to view the full version.
View Full DocumentThis preview has intentionally blurred sections. Sign up to view the full version.
View Full Document
Unformatted text preview: 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 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 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/ 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 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...
View
Full
Document
This note was uploaded on 12/30/2009 for the course ISOM ISOM111 taught by Professor Anthonychan during the Fall '09 term at HKUST.
 Fall '09
 AnthonyChan

Click to edit the document details