Week 1 Live Lecture Trimmed -...

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1 Welcome! Week 1 Live Lecture/Discussion Applied Managerial Statistics (GM533)  
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2 Tonight’s Agenda Week 1 Terminal Course Objectives (TCOs)  Getting started with MegaStat Descriptive Statistics using MegaStat Essential Questions and Problem Types The Most Important Ideas in Statistics Questions?
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3 Week 1 Terminal Course Objectives (TCOs) TCO A   Descriptive Statistics:  Given a managerial  problem and accompanying data set, construct graphs  (following principles of ethical data presentation),  calculate and interpret numerical summaries  appropriate for the situation. Use the graphs and  numerical summaries as aids in determining a course  of action relative to the problem at hand. TCO F   Statistics Software Competency:  Students  should be able to perform the necessary calculations  for objectives A through E using technology, whether  that be a computer statistical package or the TI-83,  and be able to use the output to address a problem at  hand. 
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4 Getting Started with MegaStat Course Home:  MegaStat Tutorial Download Excel 2007 add in Getting help with your MegaStat installation
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5 Descriptive Statistics using MegaStat:   A Live Demonstration (Using Desktop  Sharing) Case #27:  Housing Prices Downloading the data Sorting the matrix:  first by PRICE Eyeballing the data (for the Range and the  Median) Descriptive statistics (for PRICE) Extending the descriptive analysis:  Using the  Histogram and Frequency Distribution
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6 Descriptive Statistics using MegaStat:  A Live  Demonstration (Cont’d) Extending the descriptive statistical analysis to two  variables: Ø Sort the data matrix by FIRE, and PRICE Ø Show the set up for descriptive statistics for homes  without a fireplace Ø Run the scatter plot (with the regression line and R- sq) of PRICE against FIRE Ø Run the scatter plot (with the regression line and R- sq) of PRICE against SQ_FT
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7 Summary of Descriptive Statistics using  MegaStat (concluded) Central tendency: mean, median, mode Dispersion:  Range, standard deviation,   interquartile range Stem – and - leaf display Histogram and frequency distribution Scatter plot, regression line, and    2 R
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8 Essential Questions and Problem Types  for the Week 1 Mastery Module For a given data set, use MegaStat to find  numbers, pictures, and tables which show the   central tendency, including:  the mean, 
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Week 1 Live Lecture Trimmed -...

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