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Statistics for
Economists
Lecture 2
Kata Bognar
UCLA
Descriptive
Statistics
Probability Basics
Statistics for Economists
Lecture 2
Kata Bognar
UCLA
September 28, 2010
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View Full Document Statistics for
Economists
Lecture 2
Kata Bognar
UCLA
Descriptive
Statistics
Probability Basics
Last Lecture
•
Population and sample
•
Descriptive and inferential statistics
Statistics for
Economists
Lecture 2
Kata Bognar
UCLA
Descriptive
Statistics
Probability Basics
Today’s Outline
1
Descriptive measures
2
Probability basics: random experiments, events and probabilities
3
Readings: TH, Chapter 1.1
•
Suggested readings:
WS, Chapter 4.1  4.5
W, Chapter 4.1  4.3
4
Readings for next class: TH, Chapter 1.2
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View Full Document Statistics for
Economists
Lecture 2
Kata Bognar
UCLA
Descriptive
Statistics
Probability Basics
Frequency Distribution
•
We start organizing data by deﬁning appropriate
classes
of
observations.
•
The
frequency
of a class is the number of observations that fall
in a class.
•
The
frequency distribution
corresponding to a data set is a
listing of all classes and their frequencies.
•
The
relative frequency
of a class is the ratio of the frequency of
a class to the total number of observations.
•
The
relativefrequency distribution
is a listing of all classes and
their relative frequencies.
Statistics for
Economists
Lecture 2
Kata Bognar
UCLA
Descriptive
Statistics
Probability Basics
Descriptive Measures
•
Measures of center
•
Measures of dispersion
•
Measures of position
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Economists
Lecture 2
Kata Bognar
UCLA
Descriptive
Statistics
Probability Basics
Mean
•
The
mean
of a data set is the sum of the observations divided by
the number of the observations.
•
If the data set consists of the values
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This note was uploaded on 12/28/2010 for the course ECON 41 taught by Professor Guggenberger during the Fall '07 term at UCLA.
 Fall '07
 Guggenberger

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