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Statistics Lec 1

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Omar Elkady
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3 views

Statistics Lec 1

Uploaded by

Omar Elkady
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Introduction to Statistics

Business Administration - PRE(MBA)

Dr. Mostafa
Some Information

• Email: mostafa.sayed@feps.edu.eg

• Office Hours: Sunday 7-8

• Online
References
• Text Book
Ken Black, Applied Business Statistics, 7th edition.
• Other References
Keller, Managerial Statistics,9th edition.

• The lectures’ slides are based on Keller’s and


Black’s slides subject to modifications.

• The slides will be available on MOODLE (How to


access MOODLE??) /
Student Evaluation
• Class work (30 %)

• Midterm exam (30 %)

• Final exam (40 %)


Course Outline
• Basic Notions.
• Data Collection.
• Data presentation (tables and graphs).
• Statistical measures of location.
• Statistical measures of dispersion.
• Statistical measures of shape.
Chapter 1

Introduction
to Statistics
Lecture Outline
• What is Statistics?
• Statistical Applications in Business.
• Population Vs. Sample.
• Parameter Vs. Statistic.
• Descriptive Vs. Inferential Statistics.
• Variables and Data.
• Types of Variables.
• Exercises.
What is Statistics?
➢Science of gathering, analyzing, interpreting, and
presenting data.

➢Statistics is a way to get information from data.

Statistics

Data Information
Statistical Applications in Business

•Statistical analysis plays an important role in virtually all


aspects of business and economics.

•For example, Statistics can be used in studying the


relationship between income and expenditure or studying the
relationship between the quantity demanded of a certain
product and its price.

•Throughout this course, we will see applications of statistics


in accounting, economics, finance, human resources
management, marketing, and operations management.
Population Vs. Sample
Population (The whole)
• A population is the group of all items of interest to a statistics
practitioner (not necessarily people ).

• When researchers gathers data from the whole population, they


call it a Census.

Sample (Portion of the whole)


• A sample is a subset of the population and, if properly taken, is
representative of the whole.

• N.B.
Researchers often prefer to work with a sample of the population
instead of the entire population ( time limitations, money
limitations).
Parameter Vs. Statistic
Parameter
• A descriptive measure of a population.

Statistic
• A descriptive measure of a sample.

• We use statistics to make inferences about


parameters.
Example
• If we want to determine the average mark of 500 students
enrolled in a certain Statistics course, then the 500 students
constitute the population.

• We can select a sample of 20 students, for example, to


estimate the average mark of the 500 students.

• The average mark of the students in the population is a


parameter.

• The average mark of the students in the sample is a statistic.


Descriptive Vs. Inferential Statistics
•Descriptive Statistics
•Using data gathered on a group to describe or reach
conclusions about that same group only.

•Descriptive statistics deals with methods of organizing,


summarizing, and presenting data in a convenient and
informative way.

•Descriptive Statistics describe the data set that’s being


analyzed.
Descriptive Vs. Inferential Statistics

Inferential Statistics
• using sample data to reach conclusions about the
population from which the sample was taken.

• The data gathered from the sample are used to infer


something about a larger group. Inferential statistics
are sometimes referred to as inductive statistics.

• The basis for inferential statistics, then, is the ability


to make decisions about parameters without having to
complete a census of the population.
Example

• Descriptive Statistics: If an instructor produces


statistics to summarize a class’s examination effort and
uses those statistics to reach conclusions about that class
only, the statistics are descriptive.

• Inferential Statistics: Some new drugs are expensive to


produce, and therefore tests must be limited to small
samples of patients. Utilizing inferential statistics,
researchers can design experiments with small randomly
selected samples of patients and attempt to reach
conclusions and make inferences about the population.
Variable and Data

•A variable is some characteristic of a population or


sample.
E.g. student grades, price of a stock,….
Typically denoted with a capital letter: X, Y, Z…

•Data are the observed values of a variable.


E.g. Marks observed for 7 students: {67, 74, 71, 83,
93, 55, 48}.
Types of Variables

• There are two main types of variables:

1. Qualitative variables: possible values of a qualitative variable are


categories that may or may not be ordered.
E.g.: Marital status (single, married, divorced, widowed)
Grade (poor, fair, good, very good, excellent)
Religion
2. Quantitative variables: values of a quantitative variable are
numeric (numeric values to indicate how much or how many).

E.g.: Weight, height, number of children for a household,…

In general, there are more alternatives for statistical analysis when


the data are quantitative.

17
Quantitative Variables
A quantitative variable is either a:
1. Discrete variable takes specific values on its specified range.
They usually represent counts.
E.g.: number of students in a class, number of children in a
house, number of rooms in a house.

2. Continuous variable can take on any value inside its interval,


i.e. it can take an infinite number of values, and can take a value
between any two possible values on its range.
• It could be said that continuous variables are generated from
situations in which things are “measured” not “counted.”
• E.g.: weight, age, temperature, income,…

18
Exercises
Complete
1. A …………is a descriptive measure of a population.

2. A …………. is a descriptive measure of a sample.

3. Methods used to draw conclusions about a population


from a sample are classified as ……………. statistics.

4. …………… statistics involves the collection,


organization, summarization, and presentation of data.

5. A subset of a population is called a …………


Exercises

• A company makes electric wiring which it sells to contractors.


Approximately 900 electric contractors purchase wire from this
company annually. The owner of the company wants to determine the
contractors’ satisfaction with the wire sold by the company. He
developed a questionnaire that yields a satisfaction score between 10 and
50. A random sample of 35 of the 900 contractors is asked to complete a
satisfaction survey. The satisfaction scores for the 35 participants are
averaged to produce a mean satisfaction score.

• What is the population for the study?


• What is the sample for this study?
• What is the statistic for this study?
• What would be a parameter for this study?
Exercises
In the following statement, specify the name of each
of the 4 variables as well as its type and value.

“He is 19 years old. His mother is a teacher. He has 3


brothers. He got a B in the course”

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