endobj 185 0 obj << Some forms of data collection are destructive. >> endobj 40 0 obj 4 0 obj (independent samples) 159 0 obj endobj endobj endobj 160 0 obj << /S /GoTo /D (subsection.8.1) >> << /S /GoTo /D (subsubsection.8.3.2) >> The capital Greek letter sigma ( ) is commonly used in mathematics to represent a (Measures of Dispersion) << /S /GoTo /D (subsection.1.3) >> Business Statistics Summary Notes Chapter 1. (Algebra of Sets) endobj 72 0 obj << /S /GoTo /D (subsection.2.2) >> 128 0 obj �?=?����r��k�>9*��VyY~w�e�Ų��߫U;E�I�J�n̙V�nG�r�1��6 36 0 obj << /S /GoTo /D (subsection.5.3) >> endobj endobj (There's more to it...) << /S /GoTo /D (subsection.3.3) >> Another way to locate the median is by finding the (n+1)/2''th term in the ordered array. << /S /GoTo /D (subsection.6.1) >> << /S /GoTo /D (subsubsection.6.2.1) >> endobj (Tests, Test Statistics and Decisions) endobj << /S /GoTo /D (subsection.2.4) >> often arise from counting processes, while continuous data arise from 15 0 obj endobj 51 0 obj endobj endobj Very helpful indeed. /ColorSpace 3 0 R /Pattern 2 0 R /ExtGState 1 0 R endobj 156 0 obj 59 0 obj endobj Statistics is a mathematical science concerned with the collection, presentation, endobj values the data may take (0,1...10), whereas in the second example all we can give << /S /GoTo /D (subsection.7.2) >> 19 0 obj Classification and Tabulation of Data : … 155 0 obj << /S /GoTo /D (subsection.4.2) >> endobj Business Statistics - Lecture notes - 1 - 3, Copyright © 2020 StudeerSnel B.V., Keizersgracht 424, 1016 GC Amsterdam, KVK: 56829787, BTW: NL852321363B01, Upgrade to Premium to read the full document, Or upload a document to get free Premium access, Australian Constitutional Law - Lecture notes - 1 - 3, Integrated Marketing Communications - Lecture notes - 1, 2, 4, Business Requirements Modelling - Lecture notes - 1 2, Sample/practice exam April 2007, questions, Sample/practice exam October 2007, questions. �h4����O�_6�і+I��nJ�������B-��p#5���NG�zD��qS]�����9��H���!���� ~_����?HBl�):dW��z��N�Μ�gkeYI�����Xb��cgxX�[}�&�̎n^�� rugby players. For a detailed description of calculating percentiles, go to page 61 of the textbook. Please sign in or register to post comments. 131 0 obj 88 0 obj 48 0 obj endobj xڅRɎ1��+|tڸ��� �X4H �i� ��$����=�Tk`N�jq��W�,فI�n'�c�݋��1%E�)˦=Т��uV�A�lZ�W�1�6����S&�>6��%��E�\�R�����]��zC(����ym�O�qn��m:u�+;1��j+̨h���h0]\B�{�:\.8��>:�k7��A�B/F��?��Uy �:��*��~ >Fw�� endobj 140 0 obj endobj << /S /GoTo /D (subsection.3.4) >> data can be described as falling on or below this location. equals the total number of observations. endobj Measures of central tendency yield information about the centre, or middle part, of a set of 180 0 obj Notes for Introduction to Business Statistics Sarah Thandi Dippenaar University of Vienna version: 20 May 2013 These notes are work in progress. aspects and any special features of the data. 2 At the micro level, individual firms, howsoever small or large, produce extensive statistics on their operations. 167 0 obj 8 0 obj (Total Probability) 164 0 obj endobj endobj on other values that are known, such as other values in the data. The population mean is represented by the Greek letter mu (u). (Confidence Intervals) endobj endobj Inferential statistics involves methods of using information from a sample to drawconclusions about the population.Steps in Statistical … (Multiplication theorem for conditional probabilities) endobj endobj 103 0 obj inference. endobj Statistical inference uses sample data to reach conclusions about the population snapshot of the measured variables at that point in time. << /S /GoTo /D (subsection.5.2) >> BUSINESS STATISTICS SECTION-A 1. 96 0 obj << /S /GoTo /D (section.8) >> 52 0 obj endobj 32 0 obj Two steps in analysing data from a sample; exploratory data analysis and statistical /ProcSet [ /PDF /Text ] 108 0 obj The first quartile, separates the first quartile (Levels of Measurement) Population- A population is a collection of objects (often called units or subjects) of endobj Thanks for the lecture. take a representative sample of the population and use the corresponding sample �̜r%�Ǒ:yW����>& j����:o�+(�$_�����Я�x�����+���?f0�"q�>Jm�gEo��Q�� endobj (Sample Space and Events) 184 0 obj Market research, interpreting sales figures, forecasting demand. endobj the calculation of parameters is usually impossible or infeasible because of the 143 0 obj 111 0 obj 188 0 obj << << /S /GoTo /D (subsubsection.6.2.2) >> (Bayes) >> N is used to represent the number of terms in a populat ion, and n is used to represent the three quartiles are denoted as Q1, Q2 and Q3. << /S /GoTo /D (subsection.3.5) >> Measures of location yield information about certain sections of a set of numbers when middle numbers. endobj assumes that the sample is representative of the population. endobj sample variance. 119 0 obj to that value. The sample mean is represented by x, pronounced ‘x- bar’. 176 0 obj << /S /GoTo /D (subsubsection.7.3.2) >> endobj endobj Examples of parameters are population mean, population standard deviation endobj 120 0 obj measurements. 127 0 obj It is found by summing all the endobj These data are often field data, collected by employing scientific survey techniques. /Resources 186 0 R 71 0 obj (Sample Proportion) Please send these to me at: sarah.dippenaar@univie.ac.at 1 47 0 obj endobj (Definitions and Concepts) endobj of the data from the upper three quartiles and is equal to the 25th percentile. first three quarters of the data from the last quarter and is equal to the value of the 75th Business statistics is the science of good decision making in the aspect of uncertainty and is used in many disciplines such as econometrics, financial analysis, production, auditing, and operations including services improvement, and marketing research. 148 0 obj /MediaBox [0 0 595.276 841.89] << /S /GoTo /D (section.2) >> << /S /GoTo /D (subsection.7.1) >> The annual reports of companies contain variety of data on sales, production, expenditure, inventories, capital employed, and other activities. 230 0 obj << Percentiles- are measures of location that divide a set of data so that a certain fraction of Introduction of Statistics : Growth of Statistics, Definition, Scope, Uses, Misuses and Limitation of Statistics, Collection of Primary & Secondary Data, Approximation and Accuracy, Statistical Errors. 16 0 obj surveys of consumer confidence. 39 0 obj (Conditional Probablitly) endobj Business Statistics Notes (MBA, BBA, B.Com, Management) for mba, bba, b.com and other management and business studies students. categorical data. /Filter /FlateDecode << /S /GoTo /D (subsubsection.7.3.1) >> (unknown variance) (Sample spaces with equally likely outcomes) 189 0 obj << 1.1 Statistics in Business Statistics is a mathematical science concerned with the collection, presentation, analysis, interpretation or explanation of data. 28 0 obj The test grades have a natural ordering and thus is an << /S /GoTo /D (section.5) >> For an array with an odd This cannot be ranked in any meaningful way and thus is an example of a decisions. (Inferential Statistics Basics) Parameter- Is a descriptive measure of the population. << /S /GoTo /D (subsection.2.3) >> 44 0 obj we can list the possible values. (Introduction) %PDF-1.5 (variance unknown - the t-distribution) Numerical data (quantitative)- have a natural order and the numbers represent some (Sample Mean) Sample- A sample is a subset of the units in a population. Examples include; ALL small businesses, ALL workers currently employed endobj A descriptive measure of a sample is called a Statistic. confidence over several months. endobj /D [185 0 R /XYZ 102.884 713.103 null] quantity. Detecting credit card, mobile phone and banking fraud. 123 0 obj 132 0 obj << /S /GoTo /D (subsection.1.1) >> << /S /GoTo /D (subsubsection.8.3.1) >> << /S /GoTo /D (subsubsection.7.1.1) >> 56 0 obj (Sets \(Mengen\)) 107 0 obj endobj N The Pth percentile is the value << /S /GoTo /D (subsection.2.1) >> 139 0 obj 68 0 obj Exploratory data analysis (EDA)- is the first step, in which numerical, tabular and Monitoring stock markets, investments and commodities. Introduction to Business Statistics 1. BUSINESS STATISTICS - WHAT AND WHY?Definition of Statistics-Statistics is the study of how to collect, organize, analyze, and interpret numerical informationfrom data.Types of StatisticsDescriptive statistics involves methods of organizing, picturing and summarizing informationfrom data. Organising the data into an ordered endobj 31 0 obj /Length 440 Note that in the first example we know in advance exactly which (The basic idea) patterns observed in the data sample are present in the wider population and clearly the given month. endobj endobj ordinal data type. 151 0 obj Improving production methods and assessing product reliability. Mean (arithmetic mean)- the average of a set of numbers. (Sample Distributions) 115 0 obj << /S /GoTo /D (subsection.4.1) >> (Estimators for Parameters) endobj endobj this one good note for statistics students keep it up thank you.

introduction to business statistics notes

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