Lecture2 - Lecture 2 Describing Data by Graphical Technique...

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Lecture 2 Describing Data by Graphical Technique Migiwa Tanaka Reading: 2.1, 2.3 1 ECO220Y
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Outline pes of Information Types of Information Types of Data Types of Data set Graph Describing one variables Ordinal and Nominal Data terval Data - istogram Interval Data Histogram 2 ECO220Y
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Example 1: Consumer Survey restaurant : whether or not to offer delivery service A restaurant : whether or not to offer delivery service The restaurant took survey from 100 customers. How often they come to the restaurant per month. Whether they use delivery if they are offered delivery service with no extra charge. 3 ECO220Y
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Collected Data Data (Plural); Datum(Singular) Customer id Number of visits Use of Delivery 11 Y e s 2 2 No 31 N o 41 Y e s 5 1 No ……… 100 2 Yes 4 ECO220Y
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Collected Data Variables: some characteristics of a population or sample. Customer id Number of visits Use of Delivery 1 1 Yes 22 N o 31 N o 4 1 51 N o ……… 100 2 ariables are often denoted by upper case letters E g X Y Z 5 Variables are often denoted by upper case letters. E.g. X, Y, Z. ECO220Y
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Collected Data Values= possible observations of the variable Customer id Number of visits Use of Delivery 11 Y e s 2 2 No 31 N o 41 Y e s 5 1 No ……… 100 2 Yes 6 Number of visits: {1,2,3…}, Use of Delivery:{Yes, No} ECO220Y
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Collected Data bservations/Records: a set of observed values for one of sample units Customer id Number of visits Use of Delivery Observations/Records: 11 Y e s 2 2 No 31 N o 41 Y e s 5 1 No ……… 100 2 Yes 7 ECO220Y
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Types of Information uantitative Information umerical measurements of Quantitative Information : numerical measurements of a quantity or amount xample: A price cut of 10% leads to 5% increase in sales Example: A price cut of 10% leads to 5% increase in sales.
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Lecture2 - Lecture 2 Describing Data by Graphical Technique...

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