TYPES OF STATISTICS:
- organizing, summarizing and
presenting data in a
convenient and informative
- describes the set being
analyzed, but docent allow for
conclusions/ inference making
- collect data (surv
Constructing an Ogive.
Cumulative Distributions and Ogives.
Measure of Location.
Misuse and Common Errors in Visualizing Data.
Visualizing Numerical Data.
Cumulative % Polygon.
How to Draw an Ogive:
Start with a
Measure of Central Tendency:
A Single Value to Represent the Data Set
Mean, Median, Mode
Measures of Variability:
A Single Value to Describe How Spread Out the Data Is
Range, Interquartile Range, Variance, Standard Deviation
ECN104 Notes Sept 15
The scientific method
Involves observation, theory, and more observation
economists use theory and observation like other sceintists ut they do face an obstacle that
makes their tasks especially challenging: experiments are often diff
Why is it advantageous for retailers to be vertically integrated?
Retailers can develop unique merchandise sold only in their stores
Retailers can expand their services easily to the Internet because they can direct orders to
- Economic of scale, cannibalization 123
Saturated area 124
Location and retail strategy
- Convenience shopping, Comparison shopping 125
- Specialty shopping
Types of locations 127
- Shopping center
- Strip centers
- Power center