# Ch01 1

This preview shows page 1. Sign up to view the full content.

This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Business Statistics ? ? ? ? ? ? : A321 Emial : [email protected] Slide 1 考考考考 s s s s 考考考 15% 考考考考考 15% 考考考 20% 考考考 50% Slide 2 Chapter 1 Data and Statistics Slide 3 Major Contents s s s s s Applications in Business and Economics Data Data Sources Descriptive Statistics Statistical Inference Slide 4 Applications in Business and Economics s s s Accounting Public accounting firms use statistical sampling procedures when conducting audits for their clients. Finance Financial analysts use a variety of statistical information, including price­earnings ratios and dividend yields, to guide their investment recommendations. Marketing Electronic point­of­sale scanners at retail checkout counters are being used to collect data for a variety of marketing research applications. Slide 5 Applications in Business and Economics s s Production A variety of statistical quality control charts are used to monitor the output of a production process. Economics Economists use statistical information in making forecasts about the future of the economy or some aspect of it. Slide 6 Data s s s s Elements, Variables, and Observations Scales of Measurement Qualitative and Quantitative Data Cross­Sectional and Time Series Data Slide 7 Data and Data Sets s s Data are the facts and figures that are collected, summarized, analyzed, and interpreted. The data collected in a particular study are referred to as the data set. Slide 8 Elements, Variables, and Observations s s s s The elements are the entities on which data are collected. A variable is a characteristic of interest for the elements. The set of measurements collected for a particular element is called an observation. The total number of data values in a data set is the number of elements multiplied by the number of variables. Slide 9 Data, Data Sets, Elements, Variables, and Observations Observation Variables Stock Annual Earn/ Company Exchange Sales(\$M) Sh.(\$) Dataram EnergySouth Keystone LandCare Psychemedics Elements AMEX 73.10 0.86 OTC 74.00 1.67 NYSE 365.70 0.86 NYSE 111.40 0.33 AMEX 17.60 0.13 Data Set Datum Slide 10 Scales of Measurement s s s Scales of measurement include: • Nominal • Ordinal • Interval • Ratio The scale determines the amount of in...
View Full Document

## This note was uploaded on 10/29/2011 for the course STANDARD 111 taught by Professor Aa during the Spring '11 term at CUNY Baruch.

Ask a homework question - tutors are online