Business Statistics Semester II 2008/2009 Chapter 1 Introduction of Business Statistics An important decision-making tool in business and is used in virtually every area of business. Among the more common meaning of the word are: 1) the science of gathering‚ analyzing‚ interpreting and presenting data 2) a branch of mathematics 3) a course of study 4) facts and figures 5) a death 6) sample measurement 7) type of distribution used to analyze data Statistics are broadly
Premium Measurement Statistics Parametric statistics
H0: µ ≤ 3‚ H1: µ > 3 C H0: µ = 3‚ H1: µ ≠ 3 D H0: µ ≠ 3‚ H1: µ = 3 E None of the above Ans: B What is (are) the critical value(s)? A -1.96 and 1.96 B -1.645 C -1.645 and 1.645 D 1.645 E None of the above Ans: D What is the calculated test statistic? A 2.12 B 1.43 C 1.78 D 1.23 E None of the above Ans: A What is your conclusion? (choose the most correct answer) A Reject Ho at the 5% level of significance. B Accept Ho at the 5% level of significance. C Not sure. D
Premium Statistical hypothesis testing Statistics Statistical significance
Statistics Test Pearson’s correlation test Correlation is a technique for investigating the relationship between two quantitative‚ continuous variables‚ for example‚ age and blood pressure. Pearson’s correlation coefficient (r) is a measure of the strength of the association between the two variables. The nearer the scatter of points is to a straight line‚ the higher the strength of association between the variables. Also‚ it does not matter what measurement units are used (URL1)
Premium Spearman's rank correlation coefficient Statistics
There are three basic operational rules which help to simplify the use of the sigma notation. 1. For any integer N Operational Rules for Summation N i i N i i N i i i y x y x 1 1 1 2. If c is a constant‚ that is‚ does not depend on the index of summation i‚ then Continue... Nc c and x c cx N i N i i N i i 1 1 1 The graphical representation of data gives us the idea on the shape of the distribution
Premium Arithmetic mean Regression analysis Statistics
1 1. Statistics is the science of collecting‚ organizing‚ analyzing‚ interpreting‚ and presenting data. TRUE 2. Inferential statistics refers to generalizing from a sample to a population‚ estimating unknown parameters‚ drawing conclusions‚ and making decisions. TRUE 3. Descriptive statistics refers to summarizing data rather than generalizing about the population. FALSE 4. Estimating parameters and testing hypotheses are important aspects of descriptive statistics. FALSE
Premium Statistics Statistical hypothesis testing Scientific method
CHAPTER 10: TWO-SAMPLE TESTS WITH NUMERICAL DATA 1. The t test for the difference between the means of 2 independent populations assumes that the respective a) sample sizes are equal. b) sample variances are equal. c) populations are approximately normal. d) all of the above ANSWER: c TYPE: MC DIFFICULTY: Moderate KEYWORDS: pooled-variance t test‚ assumption 2. The t test for the mean difference between 2 related populations
Premium Statistical hypothesis testing Arithmetic mean Student's t-test
Comparison of Crime Statistics Crime statistics endeavour to provide statistical measures of crime in societies. They provide a point of analysis and comparison‚ allow countries to form long-term patterns and trends and can help to develop and reform criminal justice policies as well as being more meaningful than raw numbers. Using the countries of Bahrain and the United States as a comparison point for the following issues which surround crime statistics such as biases‚ agendas and general influences
Premium Crime Criminology Sociology
chapter 1: STATS – STATISTICS DATA AND STATISTICAL THINKING 1.1 The science of statistics * Statistics - is the science of data. It involves collecting‚ classifying‚ summarising‚ organising‚ analysing‚ and interpreting numerical information. 1.2 types of statistical applications in business * Descriptive Statistics - describe collected data. Utilizes numerical and graphical methods to look for patterns in data‚ summarize the information in the data and to present the information in a
Premium Measurement Statistics Statistical inference
Statistics – Lab #6 Statistical Concepts: * Data Simulation * Discrete Probability Distribution * Confidence Intervals Calculations for a set of variables Mean Median 3.2 3.5 4.5 5.0 3.7 4.0 3.7 3.0 3.1 3.5 3.6 3.5 3.1 3.0 3.6 3.0 3.8 4.0 2.6 2.0 4.3 4.0 3.5 3.5 3.3 3.5 4.1 4.5 4.2 5.0 2.9 2.5 3.5 4.0 3.7 3.5 3.5 3.0 3.3 4.0 Calculating Descriptive Statistics Descriptive Statistics: Mean‚ Median Variable N N* Mean SE Mean StDev Minimum
Premium Statistics Normal distribution Standard deviation
to the external validity of a study ’s result. (Dattalo‚ 2010) Random number is spontaneous number which can be found by different methods. As an example of random numbers can be roulette in casino when you never can predict or calculate it. In statistics‚ data often chosen randomly from selected range. In Microsoft Office Excel it can be found by simple function random() or if function randbetween(min number‚max number) which allow select random number from selected range. In this assignment‚
Premium Statistics Standard deviation Sample size