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Title: Introduction To Business statistics
Description: these notes are very helpful to make statistics easier and interesting
Description: these notes are very helpful to make statistics easier and interesting
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Basic Business Statistics
14th Edition
Chapter 1
Introduction to Statistics
Chap 1-1
Chapter Goals
After completing this chapter, you should be
able to:
Describe key data collection methods
Know key definitions:
Population vs
...
Secondary data types
Qualitative vs
...
g
...
g
...
g
...
Estimation
e
...
, Estimate the population mean
weight using the sample mean
weight
Hypothesis Testing
e
...
, Use sample evidence to test
the claim that the population mean
weight is 120 pounds
Chap 1-6
Tools for Collecting Data
Data Collection Methods
Experiments
Telephone
surveys
Written
questionnaires
Direct observation and
personal interview
Chap 1-7
Survey Design Steps
Define the issue
what are the purpose and objectives of the survey?
Define the population of interest
Develop survey questions
make questions clear and unambiguous
use universally-accepted definitions
limit the number of questions
Chap 1-8
Survey Design Steps
(continued)
Pre-test the survey
pilot test with a small group of participants
assess clarity and length
Determine the sample size and sampling
method
Select sample and administer the survey
Chap 1-9
Types of Questions
Closed-end Questions
Select from a short list of defined choices
Example: Major: __business __liberal arts
__science __other
Open-end Questions
Respondents are free to respond with any value, words, or
statement
Example: What did you like best about this course?
Demographic Questions
Questions about the respondents’ personal characteristics
Example: Gender: __Female __ Male
Chap 1-10
Populations and Samples
A Population is the set of all items or individuals
of interest
Examples:
All likely voters in the next election
All parts produced today
All sales receipts for November
A Sample is a subset of the population
Examples:
1000 voters selected at random for interview
A few parts selected for destructive testing
Every 100th receipt selected for audit
Chap 1-11
Population vs
...
Chap 1-13
Stratified Random Sampling
Divide population into subgroups (called strata)
according to some common characteristic
Select a simple random sample from each
subgroup
Combine samples from subgroups into one
Population
Divided
into 4
strata
Sample
Chap 1-14
Systematic Random Sampling
Decide on sample size: n
Divide frame of N individuals into groups of k
individuals: k=N/n
Randomly select one individual from the 1st
group
Select every kth individual thereafter
N = 64
n=8
First Group
k=8
Chap 1-15
Data Types
Data
Qualitative
(Categorical)
Quantitative
(Numerical)
Examples:
Marital Status
Political Party
Eye Color
(Defined categories)
Discrete
Examples:
Number of Children
Defects per hour
(Counted items)
Continuous
Examples:
Weight
Voltage
(Measured
characteristics)
Chap 1-16
Title: Introduction To Business statistics
Description: these notes are very helpful to make statistics easier and interesting
Description: these notes are very helpful to make statistics easier and interesting