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Lect2_L6_L7_handout

# Lect2_L6_L7_handout - lecture 2 Descriptive Statistics I...

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lecture 2, Descriptive Statistics I Example 1, A Shoe Store Case Describing the shape of a Distribution stem-and-leaf display Frequency distribution and histogram Graphically Summarizing Qualitative Data Bar Charts and Pie Charts Describing central tendency Mean Median lecture 2, Descriptive Statistics I Example 1, A Shoe Store Case Example 1, A Shoe Store Case Suppose you decide to open an outdoor shoe-store for men. You have picked one brand and prepared enough money to stock your store with 1000 pairs of shoes. One question pop up in your mind: “how should I allocate my money on different sizes?" (To make life easier, let’s forget about different styles, width, half sizes for this example. We use the U.S./Canada system: adult men’s shoe size ranges from 4 to 14.) Would you Purchase 1000 pairs of size 9, because you were told that 9 is the average men’s shoe size? Allocate money uniformly on all sizes (4-14)?

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lecture 2, Descriptive Statistics I Example 1, A Shoe Store Case Describing the shape of a Distribution stem-and-leaf display Frequency distribution and histogram Graphically Summarizing Qualitative Data Bar Charts and Pie Charts Describing central tendency Mean Median lecture 2, Descriptive Statistics I Example 1, A Shoe Store Case Example 1, A Shoe Store Case, ctd Suppose you just want to try and see what happens if you stock equal number of pairs for each size as a start. What do you think would happen after a few weeks in business? Your desk of shoes: What useful information can you get from this?
lecture 2, Descriptive Statistics I Example 1, A Shoe Store Case Describing the shape of a Distribution stem-and-leaf display Frequency distribution and histogram Graphically Summarizing Qualitative Data Bar Charts and Pie Charts Describing central tendency Mean Median lecture 2, Descriptive Statistics I Example 1, A Shoe Store Case Example 1, A Shoe Store Case, ctd Let’s take another look at the pattern of shoe purchases for an idea of how shoe size is distributed in the population. shape of the distribution central tendency variability

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lecture 2, Descriptive Statistics I Example 1, A Shoe Store Case Describing the shape of a Distribution stem-and-leaf display Frequency distribution and histogram Graphically Summarizing Qualitative Data Bar Charts and Pie Charts Describing central tendency Mean Median lecture 2, Descriptive Statistics I Describing the shape of a Distribution stem-and-leaf display Graphically Summarizing Quantitative Data Often need to summarize and describe the shape of the distribution One way is to use a stem-and-leaf display Purpose is to see the overall pattern of the data, by grouping the data into classes — the variation from class to class — the amount of data in each class — the distribution of the data within each class Best for small to moderately sized data distributions
lecture 2, Descriptive Statistics I Example 1, A Shoe Store Case Describing the shape of a Distribution stem-and-leaf

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