Econ 221
Qualitative can be ranked
Quantitative is a set number
A Pie Chart and a Bar chart are two widely used graphical representations of
qualitative data
Steam-and-leaf diagram
o A preliminary ste
ESSENTIAL STATISTICS FOR THE BEHAVIORAL SCIENCES
Statistical Tables
The Unit Normal Table
Column (A) lists z-score values. Column (B) lists the proportion of the am between the mean and the z-score
Lecture 1: Intro to Business
Statistics
ECON 221: Business Statistics
Class Overview
Class Materials
1. Essential of Business Statistics by Jaggia and Kelly
http:/connect.mheducation.com/class/r-lan
Probability
Part 2
Review From Last Class
1. Ac = Complement of Event A
2. AB = Union of Events A and B
3. AB = Intersection of Events A and B
4. A|B = Event A occurs, given that B occurs
Venn Diagram
Lecture 6:
Descriptive
Statistics
Weighted Means and Correlation
Overview of Today
Numerical Methods to describe grouped data
Weighted means
Means and variances for grouped data
Measures of relati
Practice
Exam/Problems
Problem 3
Assume you applied for two scholarships, a Merit (M) scholarship and
an Athletic (A) scholarship. What is the probability that you receive a
Merit Scholarship if:
1.
Sampling: Part 1
Today
Finish Normal Distribution
How to use Excel
Sampling Basics
Random sampling
Stratified sampling
Econ 221
Lecture 12: Sampling I
2
Normal Distribution Using Excel
Transform
Continuous Random Variables
Today
1. Continuous Distributions
a. Basic setup
2. The Uniform Distribution
a. Probability Density function
b. Mean
c. Variance
3. Introduction to the Normal Distribution
The Poisson Distribution
Today
Exam Discussion
Poisson Distribution
Exam Statistics
Mean: 72
Median 70
Grade
Frequency
A
B
C
D
F
9
17
14
17
8
Exam Grade
A Bonus Question worth 5 points posted on
Lecture 5:
Descriptive
Statistics
Measures of Central Location and Dispersion
Today
Review and Finish Measures of Dispersion
Excel example for Measures of Central Tendency and Dispersion
Percentile
Lecture 10-Discrete
Random Variables
Today
Finish up Probability
Start Discrete Random Variables
Random Variables
Random Variable: A numerical description of the outcome of
an experiment
Two broad
The Normal Distribution: Part 2
Today
Review of Standard Normal Distribution
Econ 221
Lecture 12
2
The Normal Distribution
Recall
Normal distributions are defined by mean and variance
We denote nor
Use the information in the table below for the following three questions
The table below shows the calories per 12oz for the population of beers made by the Yuengling brewing
company out of Philadelph
Whydoyouwanttoworkinsales
Use the following information for the next 5 questions:
The time spent waiting in line for a new roller coaster at Six Flags is uniformly distributed between 15
and 75 minute
1. The price of a stock is uniformly distributed between $30 and $40.
a.
b.
c.
d.
e.
What is the probability that the stock price will be more than $37?
=(40-37)/(40-30) = 0.3
What is the probability
ECON 221
Practice Test Chapters: 7, 8 and 9
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
Solve the problem.
1) The Central Limit Theorem is co
Discrete Random
Variables
Part 2
Binomial Distribution
Setup
Run an experiment consisting of n identical trials
Each trial has two outcomes: cfw_success, failure
P(Success) is identical across all
Lecture 4:
Descriptive
Statistics
Measures of Central Location and Dispersion
Review of Last Class
Describe qualitative data using tables
Frequency Tables
Relative Frequency Tables
Describe quanti
ECON 221, Fall 2015
Dr. Tung Liu
Department of Economics
Ball State University
Assignment 1- Answer Key
1.
a.
Response
Exceptional
Excellent
Good
Fair
Poor
Sum
Frequency
12
9
7
5
3
36
Relative
Frequen
Alan Greenspan, the economist who is most infamously known as being the
sole individual that caused the housing bubble to burst, due to his monetary policies
as the Federal reserve head, which lead to
These economic indicators havent gone awry due to the conservative style the
Federal Reserve has been using with their policies. The Federal Reserve recently
announced that it was ending a two year st
Eighty-two percent of US residents are monolingual, and the United States
is the only industrialized country where language study is, for the most part,
optional rather than mandatory and where second
Damon Perkins
Professor Martin
Section 121
Informative Speech Analysis
I believe my introduction in my informative speech has improved when compared
to my demonstration speech. Compared to my demonstr
Russell 1
Malcolm Russell
Professor Douglas Heiwig
Economics 202
21 September 2014
Market Failure Research Paper
A market failure can be defined as the quantity supplied demanded by the consumers
does
Econ 221 Lantis FALL 2016
Exam #1 Practice Exam A
The table below shows a sample of the Chicago Bulls roster. Use the data in the table for the
following three questions.
First Name Last Name Positio
Beer
Bitches' Bank
Deal with the Devil
Hunter Vanilla
Hunter Orange
Sinister
Hunter
Galaxy Slayer
Jade
Boubon Barrel Aged Dark Lord Imperial Stout
Bourban Barrel Aged Vanilla Bean Dark Lord
Zombie Dus