S301 Business Statistics
Introduction and Ch. 1
Daniel J. McDonald
http:/mypage.iu.edu/danielmc
January 13, 2014
S OME INFO ABOUT ME
IU undergrad (Go Hoosiers)
BA Economics, BS in Cello Performance and Mathematics
Worked for the Federal Reserve (did stati
S301 Business Statistics
Measuring relationships between
variables
Daniel J. McDonald
http:/mypage.iu.edu/danielmc
April 23, 2014
Quick review
1- SAMPLE VS . 2- SAMPLE VS . PAIRED
When you have 1 population and you take a sample from it, then you need a
1
S301 Business Statistics
Random numbers in Excel and
Fantasy Football
Daniel J. McDonald
http:/mypage.iu.edu/danielmc
January 22, 2014
Random numbers in Microsoft Excel
C HAPTER 1 (BS:E XCEL )
E XCEL AND FF
STATS301
1
E XCEL
Microsoft Excel is a spreadshe
S301 Business Statistics
Project and Practice
Daniel J. McDonald
http:/mypage.iu.edu/danielmc
March 12, 2014
G ROUP PROJECT
P ROJECT (BS:ADMA)
S AMPLING
STATS301
1
P ICTURE
Original population!
mean=15, sd=15
Sample of size 5
17
19
20
14
16
13
Population
STATS 301
Useful Formulas
Chapters 58
Expected value weight each value by the probability it occurs, sum all these together
Variance calculate all the deviations from the mean, square these, weight each by the
probability, sum all these together
Discre
1. P(X < 40)
2. P(X < 20)
3. P(X = 40)
Note that for a continuous distribution,
The density function f(X)>0 for all valurs of X
The area under the density function over all values of X = 1
The probability for nay specific value of X = 0, that is , P 9X=x)
13. The weight of people in a small town in Missouri is known to be normally distributed with a mean of 180 pounds and a standard deviation of 28 pounds. On a ra
takes people across the river, a sign states, Maximum capacity 3,200 pounds or 16 persons. Wh
Gender
Male (M)
Female (F)
Total
Race
Hispanic (H) Black (B) White (W) Total
0.335
0.205
0.165
0.705
0.145
0.105
0.045
0.295 a
0.48
0.31
0.21
1.000
b.
a.
b.
c.
d.
e.
Gender is not independent of race.
problem one exam 2
a.
b.
This problem doesn't call for
Homework 7
4.7
a.
overweight
obese
P ( overweightobese ) =P ( overweight obese )=P
Note that the addition rule is:
overweight
obese
P ( overweight obese )=P
However as indicated in part d,
P ( overweight obese )=0
b. Using the complement rule,
c
P ( over
In a recent study it was reported that 22% of those who had depression went on to develop dementia,
compared to only 17% of those who did not have depression. Suppose 10% of all people suffer from
depression.
a. What is the probability of a person develop
1. P(X < 40)
2. P(X < 20)
3. P(X = 40)
problem 3 exam 2
Note that for a continuous distribution,
The density function f(X)>0 for all valurs of X
The area under the density function over all values of X = 1
The probability for nay specific value of X = 0,
The weight of people in a small town in Missouri is known to be normally distributed with a mean of 180
pounds and a standard deviation of 28 pounds. On a raft that takes people across the river, a sign states,
Maximum capacity 3,200 pounds or 16 persons.
1. What percentage of rents are between $1,250 and $1,750?
2. What percentage of rents are less than $1,250?
3. What percentage of rents are greater than $2,000?
68.26%
15.87%
2.28%
(1,750-1500)/250=-1 which gives p values of .8413 and .1587 then subtract
1.What is the rate parameter ?
1.What is the standard deviation of X ?
2. Compute P(X > 0.20)
3. Compute P(0.10 X 0.20)
10
0.1
0.1353
0
1. y = 14, 2y = 22
2. y = 20, 2y = 22
3. y = 20, 2y = 120
S301 Business Statistics
Measuring relationships between
variables
Daniel J. McDonald
http:/mypage.iu.edu/danielmc
April 28, 2014
R ELATIONSHIPS (BS:ADMA)
R ELATIONSHIPS
STATS301
38
R ELATIONSHIPS (BS:ADMA)
R ELATIONSHIPS
STATS301
39
D ESCRIBING SCATTERPL
BUAD 310 Applied Business Statistics
Syllabus Fall 2014
Instructor:
Office:
Office Hours:
Peter Radchenko
HOH 523
Tuesday 1 PM - 3 PM and by appointment
Email:
6:00 PM Lecture Session
radchenk@marshall.usc.edu
Course Description
In this course, we will fo
S301 Business Statistics
Introduction and Ch. 1
Daniel J. McDonald
http:/mypage.iu.edu/danielmc
January 15, 2014
C HAPTER 1 (BS:ADMA)
I NTRODUCTION AND DATA C OLLECTION
STATS301
63
T YPES OF STATISTICS
D ESCRIPTIVE Data in provide summaries, charts, table
S301 Business Statistics
Ch. 2
Daniel J. McDonald
http:/mypage.iu.edu/danielmc
January 29, 2014
C HAPTER 2 (BS:ADMA)
G RAPHS , CHARTS , AND TABLES
STATS301
35
Charting advice
How hot is it?
Bars vs. Lines
The pledge to America?
Graphs say what you want
Mo
S301 Business Statistics
Ch. 2
Daniel J. McDonald
http:/mypage.iu.edu/danielmc
January 27, 2014
D ESCRIBING AND PRESENTING DATA
1
F REQUENCY DISTRIBUTIONS
2
H ISTOGRAMS
3
C ONTINGENCY TABLES
4
OTHER UNIVARIATE SUMMARIES
5
M ULTIVARIATE SUMMARIES
6
S TEM -
S301 Business Statistics
Ch. 3
Daniel J. McDonald
http:/mypage.iu.edu/danielmc
February 5, 2014
C HAPTER 3 (BS:ADMA)
G RAPHS , CHARTS , AND TABLES
STATS301
70
M EASURES OF LOCATION
One way to describe the location of a numerical data set is through its ce
S301 Business Statistics
Ch. 3
Daniel J. McDonald
http:/mypage.iu.edu/danielmc
February 3, 2014
H OMEWORK NOTES
Yes, you should paste gures and tables,
No, you should not paste data
No, you should never, ever, EVER, submit the Excel spreadsheet
Yes, you (
S301 Business Statistics
Ch. 4: Probability
Daniel J. McDonald
http:/mypage.iu.edu/danielmc
February 10, 2014
R EVIEW
M EAN add em up and divide by the number of things
VARIANCE nd the mean; subtract the mean from everything; square
these; add em up and d
S301 Business Statistics
Ch. 5: Discrete Distributions
Daniel J. McDonald
http:/mypage.iu.edu/danielmc
February 26, 2014
C HAPTER 5 (BS:ADMA)
P ROBABILITY
STATS301
52
E XAMPLE
E XPERIMENT You ip a coin twice
S AMPLE SPACE S = cfw_HH, HT, TH, TT
R ANDOM VA
S301 Business Statistics
Ch. 5: Discrete Distributions
Daniel J. McDonald
http:/mypage.iu.edu/danielmc
February 24, 2014
O UTLINE
1
R EVIEW
2
R ANDOM VARIABLES
3
D ISCRETE PROBABILITY DISTRIBUTIONS
4
E XPECTED VALUE
5
E XPECTED VALUE :
C HAPTER 5 (BS:ADMA
S301 Business Statistics
Ch. 8: Estimation
Daniel J. McDonald
http:/mypage.iu.edu/danielmc
March 26, 2014
C HAPTER 8 (BS:ADMA)
E STIMATION
STATS301
42
S AMPLING ERROR
Because a sample is not the whole population, a statistic calculated from a
sample will
S301 Business Statistics
Ch. 9: Testing
Daniel J. McDonald
http:/mypage.iu.edu/danielmc
April 16, 2014
S OME PROJECT CLARIFICATIONS
1
You do not need to (and probably really shouldnt) use all the data.
2
The question doesnt need to be complicated, just in
S301 Business Statistics
Ch. 9: Testing
Daniel J. McDonald
http:/mypage.iu.edu/danielmc
April 9, 2014
C HAPTER 9 (BS:ADMA)
Review
E STIMATION
STATS301
48
N ULL AND ALTERNATIVE HYPOTHESES
Hypothesis testing requires a null hypothesis (H0 ) and an alternati
S301 Business Statistics
Ch. 5: Discrete Distributions
Daniel J. McDonald
http:/mypage.iu.edu/danielmc
March 5, 2014
C HAPTER 5 (BS:ADMA)
P ROBABILITY
STATS301
56
P ROBABILITY
STATS301
56
O UTLINE
1
R EVIEW
2
P ERCENTILES
3
S AMPLING ERROR
4
S AMPLING DIS
S301 Business Statistics
Ch. 9: Testing
Daniel J. McDonald
http:/mypage.iu.edu/danielmc
April 16, 2014
C HAPTER 9 (BS:ADMA)
T ESTING
STATS301
38
T ESTING
STATS301
39
Review
C HAPTER 9 (BS:ADMA)
W HAT IS A P- VALUE ?
A P-value is the probability of getting
13. The weight of people in a small town in Missouri is known to be normally distributed with a mean of 180 pounds and a standard deviation of 28 pounds. On a ra
takes people across the river, a sign states, Maximum capacity 3,200 pounds or 16 persons. Wh