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Business Statistics: A Decision-Making Approach: The Where, Why, and How of Data Collection
Business Statistics: A Decision-Making Approach: The Where, Why, and How of Data Collection
7th Edition
Chap 1-1
Chapter Goals
After completing this chapter, you should be able to:
inferential statistics
Descriptive statistics
Inferential statistics
Drawing conclusions and/or making decisions concerning a population based only on sample data
Chap 1-3
Descriptive Statistics
Collect data
Present data
Characterize data
Chap 1-4
Inferential Statistics
Sample statistics
Inference
Sample
Population
Chap 1-5
Inferential Statistics
Drawing conclusions and/or making decisions concerning a population based on sample results.
Estimation
e.g., Estimate the population mean weight using the sample mean weight e.g., Use sample evidence to test the claim that the population mean weight is 120 pounds
Chap 1-6
Hypothesis Testing
Chap 1-7
make questions clear and unambiguous use universally-accepted definitions limit the number of questions
Chap 1-8
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
Demographic Questions
Examples:
All likely voters in the next election All parts produced today All sales receipts for November
Examples:
1000 voters selected at random for interview A few parts selected for destructive testing Every 100th receipt selected for audit
Chap 1-11
Key Definitions
Chap 1-12
Sample
b gi o r y c n u
ef gh i jk l m n o p q rs t u v w x y z
Chap 1-13
Why Sample?
Chap 1-14
Sampling Techniques
Sampling Techniques
Judgment
Stratified
Business Statistics: A Decision-Making Approach, 7e 2008 Prentice-Hall, Inc.
Cluster
Chap 1-15
Statistical Sampling
Items of the sample are chosen based on known or calculable probabilities Statistical Sampling
(Probability Sampling)
Simple Random
Stratified
Systematic
Cluster
Chap 1-16
Every possible sample of a given size has an equal chance of being selected Selection may be with replacement or without replacement The sample can be obtained using a table of random numbers or computer random number generator
Chap 1-17
Divide population into subgroups (called strata) according to some common characteristic Select a simple random sample from each subgroup
Sample
Business Statistics: A Decision-Making Approach, 7e 2008 Prentice-Hall, Inc. Chap 1-18
n=8
k=8
First Group
Chap 1-19
Cluster Sampling
Divide population into several clusters, each representative of the population Select a simple random sample of clusters
All items in the selected clusters can be used, or items can be chosen from a cluster using another probability sampling technique
Data Types
Data
Qualitative (Categorical)
Examples:
Quantitative (Numerical)
Discrete
Examples:
Continuous
Examples:
Data Types
Chap 1-22
Data Types
Sales (in $1000s)
2003 Atlanta Boston 435 320 2004 460 345 2005 475 375 2006 490 395 Time Series Data
Cleveland
Denver
405
260
390
270
410
285
395
280
Ratio/Interval Data
Highest Level
Complete Analysis
Rankings
Ordered Categories
Ordinal Data
Nominal Data
Chapter Summary
Chap 1-25