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Week01 2202
Week01 2202
Week01 2202
Contact:
Email: adoditmbae@gmail.com
Consultation time:
• After class
• By appointment
Overview
1. Introduction to statistics
2. Descriptive statistics
3. Probability
4. Discrete and continuous distributions
5. Sampling and sampling distributions
6. Estimations and hypothesis testing
7. ANOVA and design of experiments
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Overview
9. Analysis of categorical data (KB, Ch.16)
10. Simple regression analysis and correlations (KB, Ch.12)
11. Multiple regression analysis (KB, Ch.13)
12. Decision analysis (KB, Ch.19)
13. Time series forecasting (KB, Ch.15)
14. Nonparametric statistics (KB, Ch.17)
15. Statistical quality control (KB, Ch.18)
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LEARNING METHOD
Student-centered
Learning
Learning Approach
Class
Hand-outs
Textbooks/other sources
Online-class Etiquette
• Be on time
• Dress And Groom Appropriately
• Stay seated and stay present
• Give your full attention
• Mute your microphone when you’re not talking
• Don’t Speak over Others
• Minimize Distractions
•…
Main reference
• Business Statistics for Contemporary
Decision Making, by Ken Black, John
Wiley &Sons, Tenth Edition, 2020.
[KB]
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Course assessments
• Final Exam – 35%
• Mid Semester Exam – 35%
• Assignment – 20%
• Class participation – 10%
INTRODUCTION TO STATISTICS
Week01
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Learning objectives
• Define important statistical terms, including population, sample, and
parameter, as they relate to descriptive and inferential statistics
• Explain the difference between variables, measurement, and data
• Compare the four different levels of data: nominal, ordinal, interval,
and ratio.
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Introduction
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https://ourworldindata.org/grapher/population-since-1800?tab=table&country=CHN~IND~NGA~USA~BRA~IRN~ZAF
Introduction
• Watch:
https://www.youtube.com/watch?v=jbkSRLYSojo
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Introduction
• What can you learn from the footage?
• What has happened in the world well-off during 1810 to 2010?
• Which country did experience the most prosperous progress?
• Which county did experience the slow or reverse progress?
• What do you think would happen in the world prosperity in 2030?
2050?
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Basic Statistical Concepts
Statistics
• a science dealing with
• the collection,
• analysis,
• interpretation, and
• presentation of
numerical data
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Basic Statistical Concepts
• Population
a collection of persons, objects, or items of interest
e.g., all automobiles, all Ford Mustang cars produced from 2017 to 2019
The researcher defines the population to be whatever he or she is
studying
When researchers gather data from the whole population for a given
measurement of interest, they call it a census
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Basic Statistical Concepts
• Sample
a portion of the whole, and if properly taken, is representative of the
whole.
Researchers often prefer to work with a sample of the population
instead of the entire population
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Basic Statistical Concepts
Statistics
• Descriptive statistics
• using data gathered on a group to describe or reach conclusions about
that same group
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Basic Statistical Concepts
• Population
• Parameter
A descriptive measure of the population
e.g., population mean (μ), population variance (σ2),
and population standard deviation (σ).
• Statistic
A descriptive measure of a sample
e.g., sample mean, sample variance (s2), and
sample standard deviation (s).
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Basic Statistical Concepts
• Variable
a characteristic of any entity being studied that is capable of taking
on different values
e.g., labor productivity, stock price, historical cost, total sales, market
share, age of worker
• Measurement
a standard process to assign numbers to particular attributes or
characteristics of a variable
Data: recorded measurements
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Level of Data Measurement
• Weight of shipments 1
• Consumer rating 2
• Soccer jersey numbers 3
• Chamber temperature 4
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Level of Data Measurement
i. Nominal
• Numbers are used only to classify or categorize
e.g., demographic questions
• Statistical techniques that are appropriate for analyzing
nominal data are limited
ii. Ordinal
• In addition to the nominal-level capabilities, numbers can be
used to rank or order people or objects
• the distances or spacing represented by consecutive
numbers are not always equal.
Level of Data Measurement
iii. Interval
• the distances between consecutive numbers have meaning
and the data are always numerical.
e.g., Fahrenheit/Celsius temperature
• the zero point is a matter of convention or convenience and
not a natural or fixed zero point
iv. Ratio
• have the same properties as interval data, but ratio data
have an absolute zero
• the zero value in the data represents the absence of the
characteristic being studied
• the ratio of two numbers is meaningful.
Level of Data Measurement
Statistics
• Parametric statistics
• require that data be interval or ratio.
• Nonparametric statistics
• For nominal or ordinal data
• Can also be used to analyze interval or
ratio data
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Level of Data Measurement
Exercises - What level of data measurement?
Weekly assignment - 01
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Weekly assignment - 01
30
Weekly assignment - 01
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