BUSA 2100 Sections B and D
Department of Management and International Business
Langdale College of Business Administration
Valdosta State University
BUSA 2100: Applied Business Statistics
Section B and Section D, Spring 2014, 3 Credits
Prerequisites:
MATH
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Lecture Notes on Data Representation
Basic Steps to Survey Research (List)
Step 1: State the goals of the research.
Step 2: Develop the budget (time, money, staff).
Step 3: Create a research design (target population, frame, sample size).
Step 4: Choose a
Lecture Notes on the Sectors of a Graph
Pareto Charts
. special type of bar chart used in quality management to display the frequency of
defects or errors of different types; categories are displaced in descending order of
frequency.
Calculate the Mean
.
Lecture Notes on Types of Charts
Frequency Table
A grouping of qualitative data into mutually exclusive classes showing the number of
observations in each class.
Bar Chart
A graph that shows qualitative classes on the horizontal axis and the class frequen
Lecture Notes on Data Sets
Observation (Definition)
A single member of a collection of items that we want to study, such as a person, firm,
or region.
Variable (Definition)
A characteristic of the subject or individual, such as an employee's income or an
Lecture Notes Measurements in Stats
Numerical Data (Discreet and Continuous Data)
(also called quantitative data - statistics or tables) counting, measuring something, or
some kind of mathematical operation - provides insight into characteristics of a dat
Lecture on Deviation
Sample Standard Deviation (S)
=STDEV.S(Data); A low standard deviation indicates that the data points tend to be very
close to the mean; high standard deviation indicates that the data points are spread out
over a large range of value
Lecture Notes on Sampling Scales
Interval Data (Definition)
Distance has meaning; i.e. temperature.
Ratio Data (Definition)
Meaningful zero exists; i.e. accounts payable - 20$ is twice as much as 10$ (ratio of
2:1) - 0 point means the absence of something
Lecture Notes on Space and Events
Random Experiment (Definition)
. an observational process whose results cannot be known in advance.
Sample Space (Definition)
. the set of all outcomes (S) of a random experiment.
Discrete Sample Space (Definition)
. a sa
Chapter 1 Intro to Stats Notes
Statistics (Definition)
the science of collecting, organizing, analyzing, interpreting, and presenting data. Some
experts prefer to call statistics data science, a trilogy of tasks involving data modeling,
analysis, and deci