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lecture 2 - MGCR 271 BusinessSta s cs ExaminingVariables...

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MGCR 271 Business Sta+s+cs Ramnath Vaidyanathan Examining Variables
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Popula+on Sample Sta+s+cs Parameters The Core of Sta+s+cs
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Statistics Collect Data Explore Data Make Inference 1 2 3
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Collect Data Identify Entity Identify Population Select Sample Identify Properties Record Data A B C D E
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6 PROPERTY ( x ) SAMPLE ENTITY ( i ) VARIABLE ( x i )
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Exercise: Define the Following Entity Population Sample Property Variable
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Statistics Collect Data Explore Data Make Inference 1 2 3
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Explore Data Examine Variables Examine Relationships A B
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10 Examining Variables
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Examine Variables Quantitative Categorical
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12 QUANTITATIVE CATEGORICAL
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Examine Quantitative Variables Plot a graph Compute a statistic Fit a distribution
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Stemplot 14 Stem Leaf (Rightmost Digit)
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Height count 0 5 10 15 4.5 5.0 5.5 6.0 6.5 7.0 Histogram
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Height count 0 5 10 15 4.5 5.0 5.5 6.0 6.5 7.0 Raw Data Sorted Data Histogram
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What to Observe in a Graph? 1. Center 2. Shape 3. Dispersion 4. Outliers Height count 0 5 10 15 4.5 5.0 5.5 6.0 6.5 7.0
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StudyTime count 0 2 4 6 8 10 12 14 0 1 2 3 4 5 Histogram: Study Time
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StudyTime count 0 2 4 6 8 10 12 14 0 1 2 3 4 5 Comparison Height count 0 5 10 15 4.5 5.0 5.5 6.0 6.5 7.0 SYMMETRIC SKEWED
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Examine Quantitative Variables Plot a graph Compute a statistic Fit a distribution
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