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Chapter 1
Chapter 1
Lecturer
Dr. Nguyen Thi Xuan Mai
Faculty of Statistics, National Economics University
Address: Room No. 801, Building A1, NEU
Handphone: 0983.608.295
Email: mainx@neu.edu.vn
Website: www.khoathongke.neu.edu.vn
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Objectives
By the end of the course, students should be able to:
• Offer appropriate and effective descriptions of sets of data
• Describe data with graphical, tabular, and quantitative summaries
• Calculate probabilities and describe the characteristics of a probability distribution of
random variables
• Explain the sampling distribution of sample statistics
• Perform statistical inference on population parameters through the problem of
estimating confidence intervals and testing hypotheses
• Conduct and interpret the results of a simple or multiple regression analysis
In addition, you’ll learn basic skills for using SPSS to present and analyze data.
Content
• Chapter 1: Introduction to Statistics
• Chapter 2: Presenting Data in Tables and Charts
• Chapter 3: Numerical Descriptive Measures
• Chapter 4: Probability and Random Variables
• Chapter 5: Sampling Distribution and Estimation
• Chapter 6: Hypothesis Testing
• Chapter 7: Regression Analysis
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How to learn?
• Lectures: as indicated
• Tutorials: 30 minutes - 1 hour, from lecture 2 to 7
• Hints for success
• Attend lectures and tutorials, and supplement given materials with your own
comments and notes.
• Work carefully on the tutorials – doing them is how you will understand and
learn
• Time spent trying questions is well spent
• Constantly REFER to notes
• Use resources provided
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Reading materials:
Chap 1, 2 (Keller)
Learning objectives
This chapter will help you learn:
How statistics is used in economics and business
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Everyday decisions are based on incomplete information, i.e, we must deal with
uncertainty
Consider:
• Will the job market be strong when I graduate?
• Will the price of Vinamilk stock be higher in six months than it is now?
• Will interest rates remain low for the rest of the year if the state budget deficit is
as high as predicted?
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What is Statistics?
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Production: Statistical quality control charts are used to monitor the output of
a production process
Economics: we estimate and test economic models and their predictions; Use
empirical models for prediction, forecasting, and policy analysis
…
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Responses of students
in survey (sample)
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Parameter Population
Statistic Sample
Note: A sample statistic can differ from sample to sample, whereas the
population parameter is constant.
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Summary Table
Variables
Element
Names Stock Annual Earn/
Company Exchange Sales($M) Share($)
Data Set
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Types of Data
Data
Categorical Numerical
(Qualitative) (Quantitative)
Discrete Continuous
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Note
• The appropriate statistical analysis depends on whether the data for the variable
are qualitative or quantitative.
• There are more options for statistical analysis when the data are quantitative.
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Types of Data
iv. The months in which a firm’s employees choose to take their vacations
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Nomimal Scale
• Data are labels or names used to identify an attribute of the element.
• Eg. Gender, occupation, marital status
Colors in the skin
Names of students in your class
Textbooks you are using this semester
• Data at the nominal scale are qualitative only.
• No mathematical computations can be made at this level.
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Ordinal Scale
• The data have the properties of nominal data and the order or rank of the data is
meaningful.
• Eg. Students of a university are classified by their class standing using a
nonnumeric label such as: freshman, sophomore, junior, senior
Levels of satisfaction with life (dissatisfied, slightly dissatisfied, neutral,
slightly satisfied, satisfied)
Top 50 songs played on the Spotify
• Data at the ordinal scale are qualitative or quantitative.
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Interval Scale
• The data have the properties of ordinal data, and the interval between
observations is expressed in terms of a fixed unit of measure.
• Data at the interval scale are quantitative only.
• Eg. Temperatures; Scores …
• A zero entry simply represents a position on a scale; the entry is not an inherent
zero, i.e, no natural starting point.
• The interval differences are meaningful but we can’t defend ratio relationships.
• Eg. The difference between 10 and 20 degrees is the same as between 20 and
30 degrees but, we can’t say that 30 degrees is twice as hot as 15 degrees
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Ratio Scale
• The data have all the properties of interval data and the ratio of two values is
meaningful.
• This scale must contain a zero value (a natural starting point) that indicates that
nothing exists for the variable at the zero point.
• Data at the ratio scale are quantitative only.
• Eg. Variables such as distance, height, weight, and time…
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Types of Data
Data
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Cross-sectional Data
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Time-series Data
• Time-series data are collected over several time periods.
• They are usually collected at fixed intervals, such as daily, weekly, monthly,
quarterly, annually, etc
• E.g. Price of stocks
GDP of Vietnam over 20 years
• Time series data requires different technique to analyze the data compare to
cross-sectional data.
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Pooled Data
• E.g. GDP per capita of all Asian countries over ten years
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Data sources
• Based on the method of collecting information:
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Collect data
Estimation
Present data
Hypothesis testing
Summarize data
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Descriptive Statistics
• Collect data
• e.g., Survey
• Present data
• e.g., Tables and graphs
• Summarize data
• e.g., Sample mean = X i
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Inferential Statistics
• Inferential Statistics uses data that have been collected from a small group
(sample) to draw conclusions about a larger group (population).
• Because a sample is typically only a part of the whole population, sample data
provide only limited information about the population. As a result, sample
statistics are generally imperfect representatives of the corresponding population
parameters.
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Inferential Statistics
• Estimation
• e.g., Estimate the population mean
weight using the sample mean
weight
• Hypothesis testing
• e.g., Test the claim that the
population mean weight is 70 kg
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Inferential Statistics
Important requirements
• A sample must be representative for the population. That means the profile of
the sample is the same as that of the population => apply sampling techniques
• The sample size is large enough
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SPSS window
• Data View: Used to display data
• Columns represent variables
• Rows represent individual units or groups of units that share common values
of variables
• Variable View: Used to display information on variables in dataset
• Output View: Displays Results of analyses/graphs
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FILE/OPEN/DATA
Set File name
Files of type: SPSS Statistics (*.sav)
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Data View
Columns:
variables
Rows: cases
Under Data
View
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Enter variable
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Enter cases
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FILE/OPEN/DATA
Files of type: Excel
Select the file you want to import
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Save this
file as
SPSS data
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Summary
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