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8/9/2019 Slides Chapter 01 Statistics for Business and Economics
1/24
Statistics
Chapter 1: Statistics, Data and Statistical Thinking
8/9/2019 Slides Chapter 01 Statistics for Business and Economics
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McClave, Statistics, 11th ed. Chapter 1:Statistics, Data and Statistical Thinking
2
Where Were Going
Introdction to the !ield o! statistics
"o# statistics applies to real$#orld pro%le&s
'sta%lish the link %et#een statistics anddata
Di!!erentiate %et#een poplation and
sa&ple data Di!!erentiate %et#een descriptive and
in!erential statistics
8/9/2019 Slides Chapter 01 Statistics for Business and Economics
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McClave, Statistics, 11th ed. Chapter 1:Statistics, Data and Statistical Thinking (
1.1: The Science o! Statistics
Statistics is the science o! data. This involves
collecting, classi!)ing, s&&ari*ing, organi*ing,
anal)*ing and interpreting n&erical
in!or&ation.
8/9/2019 Slides Chapter 01 Statistics for Business and Economics
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McClave, Statistics, 11th ed. Chapter 1:Statistics, Data and Statistical Thinking +
1.2: T)pes o! Statistical
pplications
8/9/2019 Slides Chapter 01 Statistics for Business and Economics
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McClave, Statistics, 11th ed. Chapter 1:Statistics, Data and Statistical Thinking -
1.2: T)pes o! Statistical
pplications
Descriptive statistics tili*es n&erical
and graphical ðods to look !or patterns
in a data set, to s&&ari*e the in!or&ationrevealed in a data set and to present that
in!or&ation in a convenient !or&.
8/9/2019 Slides Chapter 01 Statistics for Business and Economics
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McClave, Statistics, 11th ed. Chapter 1:Statistics, Data and Statistical Thinking
1.2: T)pes o! Statistical
pplications
Inferential statistics tili*es sa&ple data
to &ake esti&ates, decisions, predictions
or other generali*ations a%ot a larger seto! data.
8/9/2019 Slides Chapter 01 Statistics for Business and Economics
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McClave, Statistics, 11th ed. Chapter 1:Statistics, Data and Statistical Thinking /
1.(: 0nda&ental 'le&ents o!
Statistics
n experimental unitis an o%ect
a%ot #hich #e collect data. erson
lace
Thing
'vent
8/9/2019 Slides Chapter 01 Statistics for Business and Economics
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McClave, Statistics, 11th ed. Chapter 1:Statistics, Data and Statistical Thinking 3
1.(: 0nda&ental 'le&ents o!
Statistics
n population is a set o! nits in
#hich #e are interested. T)picall), there are too &an)
e4peri&ental nits in a poplation to
consider everyone. I! #e can e4a&ine ever) single one, #e
condct a census.
8/9/2019 Slides Chapter 01 Statistics for Business and Economics
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McClave, Statistics, 11th ed. Chapter 1:Statistics, Data and Statistical Thinking 5
1.(: 0nda&ental 'le&ents o!
Statistics
variableis a characteristic or
propert) o! an individal nit. The vales o! these characteristics #ill,
not srprisingl), var).
8/9/2019 Slides Chapter 01 Statistics for Business and Economics
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McClave, Statistics, 11th ed. Chapter 1:Statistics, Data and Statistical Thinking 16
1.(: 0nda&ental 'le&ents o!
Statistics
sampleis a
s%set o! the
poplation.
8/9/2019 Slides Chapter 01 Statistics for Business and Economics
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McClave, Statistics, 11th ed. Chapter 1:Statistics, Data and Statistical Thinking 11
1.(: 0nda&ental 'le&ents o!
Statistics
measure of reliabilityis a
state&ent a%ot the degree o!
ncertaint) associated #ith a statisticalin!erence.
7ased on or anal)sis, #e think -8 o! soda
drinkers pre!er epsi to Coke, 9 -8.
8/9/2019 Slides Chapter 01 Statistics for Business and Economics
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1.(: 0nda&ental 'le&ents o!
StatisticsDescriptive Statistics The poplation or
sa&ple o! interest
ne or &ore varia%les to%e investigated
Ta%les, graphs or
n&erical s&&ar) tools
Identi!ication o! patternsin the data
Inferential Statistics
oplation o! interest
ne or &ore varia%les to
%e investigated The sa&ple o! poplation
nits
The in!erence a%ot the
poplation %ased on thesa&ple data
&easre o! relia%ilit) o!
the in!erence
McClave, Statistics, 11th ed. Chapter 1:Statistics, Data and Statistical Thinking 12
8/9/2019 Slides Chapter 01 Statistics for Business and Economics
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1.+: T)pes o! Data
Quantitative Data are &easre&ents
that are recorded on a natrall)
occrring n&erical scale. ge
G
Salar) Cost o! %ooks this se&ester
McClave, Statistics, 11th ed. Chapter 1:Statistics, Data and Statistical Thinking 1(
8/9/2019 Slides Chapter 01 Statistics for Business and Economics
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1.+: T)pes o! Data
Qualitative Data are &easre&ents
that cannot %e recorded on a natral
n&erical scale, %t are recorded incategories. ;ear in school
8/9/2019 Slides Chapter 01 Statistics for Business and Economics
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1.-: Collecting Data
McClave, Statistics, 11th ed. Chapter 1:Statistics, Data and Statistical Thinking 1-
%lished
Sorce
Designed
'4peri&ent Srve)
%servational
Std)
S>?C': >nited States Depart&ent o! gricltre
0oreign gricltral Service
8/9/2019 Slides Chapter 01 Statistics for Business and Economics
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1.-: Collecting Data
McClave, Statistics, 11th ed. Chapter 1:
Statistics, Data and Statistical Thinking
1
%lished Sorce @ornal
7ook
Ae#spaper
Maga*ine
B?elia%le We% Site
8/9/2019 Slides Chapter 01 Statistics for Business and Economics
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1.-: Collecting Data
McClave, Statistics, 11th ed. Chapter 1:
Statistics, Data and Statistical Thinking
1/
Designed '4peri&ent Strict control over the e4peri&ent and the
nits in the e4peri&ent
8/9/2019 Slides Chapter 01 Statistics for Business and Economics
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1.-: Collecting Data
McClave, Statistics, 11th ed. Chapter 1:
Statistics, Data and Statistical Thinking
13
Srve) Gallp, "arris and other polls
Aielsen
8/9/2019 Slides Chapter 01 Statistics for Business and Economics
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1.-: Collecting Data
McClave, Statistics, 11th ed. Chapter 1:
Statistics, Data and Statistical Thinking
15
%servational Std) %serve nits in natral settings
Ao control over %ehavior o! nits
8/9/2019 Slides Chapter 01 Statistics for Business and Economics
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1.-: Collecting Data
McClave, Statistics, 11th ed. Chapter 1:
Statistics, Data and Statistical Thinking
26
representative samplee4hi%its
characteristics t)pical o! those
possessed %) the target poplation. random sampleo! nnits is
selected in sch a #a) that ever)
di!!erent sa&ple o! si*e nhas thesa&e chance o! %eing selected.
8/9/2019 Slides Chapter 01 Statistics for Business and Economics
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1.: The ?ole o! Statistics in
Critical Thinking
McClave, Statistics, 11th ed. Chapter 1:
Statistics, Data and Statistical Thinking
21
Statistical thinkinginvolves appl)ing
rational thoght and the science o!
statistics to criticall) assess data andin!erences.
8/9/2019 Slides Chapter 01 Statistics for Business and Economics
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1.: The ?ole o! Statistics in
Critical Thinking
McClave, Statistics, 11th ed. Chapter 1:
Statistics, Data and Statistical Thinking
22
Selection bias reslts #hen a s%set
o! the e4peri&ental nits in the
poplation have %een e4clded so thatthese nits have no chance o! %eing
selected in the sa&ple. ANDON IN A ANDS IDE
In 1936 The Literary Digest predicts overnor !lf "andon of
#ansas $ould defeat %resident &oosevelt $ith '() of the
popular vote and 3(* electoral votes+ the result of polling
primarily affluent voters,
8/9/2019 Slides Chapter 01 Statistics for Business and Economics
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1.: The ?ole o! Statistics in
Critical Thinking
McClave, Statistics, 11th ed. Chapter 1:
Statistics, Data and Statistical Thinking
2(
-onresponse bias reslts #hen the
researchers condcting a srve) or
std) are na%le to o%tain data on alle4peri&ental nits selected !or the
sa&ple.
8/9/2019 Slides Chapter 01 Statistics for Business and Economics
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1.: The ?ole o! Statistics in
Critical Thinking
McClave, Statistics, 11th ed. Chapter 1:
Statistics, Data and Statistical Thinking
2+
.easurement errorre!ers to
inaccracies in the vales o! the data
recorded. In srve)s, this kind o! error&a) %e de to a&%igos or leading
estions and the intervie#ers e!!ect
on the respondent.EDo )o pre!er Candidate F, !ather o! three and chrch elder,
or Candidate ;, #ho got the no&ination despite his shad) pastH
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