...Page 21 to 27 1. Discuss the differences between statistics as numerical facts and statistics as a discipline or field of study. 10. The Wall Street Journal (WSJ) subscriber survey (October 13, 2003) asked 46 questions about subscriber characteristics and interests. State whether each of the following questions provided categorical or quantitative data and indicate the measurement scale appropriate for each. a. What is your age? Quantitative b. Are you male or female? Categorical c. When did you first start reading the WSJ? High school, college, early career, midcareer, late career, or retirement? Categorical d. How long have you been in your present job or position? Quantitative e. What type of vehicle are you considering for your next purchase? Nine response categories include sedan, sports car, SUV, minivan, and so on. Categorical 15. The Food and Drug Administration (FDA) reported the number of new drugs approved over an eight-year period (The Wall Street Journal, January 12, 2004). Figure 1.9 provides a bar chart summarizing the number of new drugs approved each year. a. Are the data categorical or quantitative? Quantitative b. Are the data time series or cross-sectional? Data time series c. How many new drugs were approved in 2003? About 20 d. In what year were the fewest new drugs approved? How many? 2002 e. Comment on the trend in the number of new drugs approved by the FDA over the Eight-year period. The FDA approved of more new drugs between the years...
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...Assignment II: Statistics Analysis in Business 1. What is the level of measurement for each of the following variables? a. Student IQ ratings b. Distance students travel to class c. Date of birth d. Number of hours students study per week 2. Place these variables in the following classification tables. Qualitative | Quantitative | | | e. Salary f. Gender g. Temperature h. Exam score i. Student rank in the class j. Number of mobile phone k. Soft drink preference 3. A total of 1,000 residents in Minnesota were asked which season they preferred. The results were 100 liked winter best, 300 liked spring, 400 liked summer, and 200 liked fall. If the data were summarized in a frequency table, how many classes would be used? What would be the relative frequencies for each class? Conduct a frequency table. 4. A set of data consisted of 38 observations. How many classes would you recommend for the frequency distribution? 5. A set of data consisted of 230 observations between $235 and $567. What class interval would you recommend? 6. Wachesaw Manufacturing, Inc., produced the following number of units in the last 16 days. 27 27 27 28 27 25 25 2826 28 26 28 31 30 26 26 | The information is to be organized into a frequency distribution. ...
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...CHAPTER 2—DESCRIPTIVE STATISTICS: TABULAR AND GRAPHICAL DISPLAYS MULTIPLE CHOICE 1. The minimum number of variables represented in a bar chart is a.|1| b.|2| c.|3| d.|4| ANS: A PTS: 1 2. The minimum number of variables represented in a histogram is a.|1| b.|2| c.|3| d.|4| ANS: A PTS: 1 3. Which of the following graphical methods is most appropriate for categorical data? a.|ogive| b.|pie chart| c.|histogram| d.|scatter diagram| ANS: B PTS: 1 4. In a stem-and-leaf display, a.|a single digit is used to define each stem, and a single digit is used to define each leaf| b.|a single digit is used to define each stem, and one or more digits are used to define each leaf| c.|one or more digits are used to define each stem, and a single digit is used to define each leaf| d.|one or more digits are used to define each stem, and one or more digits are used to define each leaf| ANS: C PTS: 1 5. A graphical method that can be used to show both the rank order and shape of a data set simultaneously is a a.|relative frequency distribution| b.|pie chart| c.|stem-and-leaf display| d.|pivot table| ANS: C PTS: 1 6. The proper way to construct a stem-and-leaf display for the data set {62, 67, 68, 73, 73, 79, 91, 94, 95, 97} is to a.|exclude a stem labeled ‘8’| b.|include a stem labeled ‘8’ and enter no leaves on the stem| c.|include a stem labeled ‘(8)’ and enter no leaves on the stem| d.|include a stem labeled ‘8’ and enter...
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...Master of Business Administration Course Instructor: Dr. Swapan Kumar Dhar Definition of Statistics Statistics is the science of collecting, organizing, presenting, analyzing and interpreting data for the purpose of making intelligent statements and drawing appropriate conclusions. So, according to this definition, there are four stages: (1) Collection of data (2) Presentation of data (3) Analysis of data and (4) Interpretation of data. Example of Statistics: Examples include the average starting salary of college graduates, the number of deaths due to road accidents last year, and 20% students of BBA are female. In these examples statistics are a value or a percentage. Other examples include: 95% students of BBA come to the class in time. 25% students of IBA come to the campus by car. The above are all examples of statistics. Data: Data are the facts and figures that are collected, analyzed and summarized for presentation and interpretation. The data collected in a particular study are referred as the data set for the study. For example, the heights (in cm.) of 14 randomly selected persons from a group of 100 persons are as follows: 152, 160, 158, 155, 154, 155, 162, 164, 160, 153, 161, 158, 167, 151. The above information on height of people constitutes a data. A set of five students is selected from a class of the course “Business Statistics’ and measurements are entered into a spreadsheet as shown in the following Figure. Figure:...
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...CHAPTER TWO DESCRIPTIVE STATISTICS: TABULAR AND GRAPHICAL METHODS CHAPTER OUTLINE AND REVIEW In Chapter 1, you were introduced to the concept of statistics and in exercise *6 of that chapter you were given a frequency distribution of the ages of 180 students at a local college, but you were not told how this frequency distribution was formulated. In Chapter 2 of your text, you were informed how such frequency distributions could be formulated and were introduced to several tabular and graphical procedures for summarizing data. Furthermore, you were shown how crosstabulations and scatter diagrams can be used to summarize data for two variables simultaneously. The terms that you should have learned from this chapter include: A. Qualitative Data: Data that are measured by either nominal or ordinal scales of measurement. Each value serves as a name or label for identifying an item. B. Quantitative Data: Data that are measured by interval or ratio scales of measurement. Quantitative data are numerical values on which mathematical operations can be performed. C. Bar Graph: A graphical method of presenting qualitative data that have been summarized in a frequency distribution or a relative frequency distribution. D. Pie Chart: A graphical device for presenting qualitative data by subdividing a circle into sectors that correspond to the relative frequency of each class. 23 24 Chapter Two E. Frequency Distribution: ...
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...Suburban and Rural. The frequency distribution and Bar chart are given as follows: Frequency Distribution: | | Location | Frequency | | Urban | 22 | | Suburban | 15 | | Rural | 13 | | | | | From the frequency distribution and bar chart, it is clear that the maximum number of customers belongs to the urban sub-category (44%), followed by those in the suburban sub-category (30%). Only 26% of the customers belong to the rural sub-category. The next variable considered is Size. It is a quantitative variable. The measures of central tendency, variation and other descriptive statistics have been calculated for this variable and are shown below: Frequency Table | Value | Frequency | Frequency % | 1 | 8 | 16.00 | 2 | 7 | 14.00 | 3 | 6 | 12.00 | 4 | 4 | 8.00 | 5 | 4 | 8.00 | 6 | 6 | 12.00 | 7 | 7 | 14.00 | 8 | 8 | 16.00 | Descriptive Statistics: | Size | Mean | 4.5 | Median | 4.5 | Mode | 1,8 | Standard Deviation | 2.525 | Sample Variance | 6.378 | Range | 7 | Minimum | 1 | Maximum | 8 | Sum | 225 | Count | 50 | The mean household size of the customers is given as 4.5....
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...Rahi Patel 2/18/2014 FIN 230: Quiz 1 1A) how many elements does the data contain? 7 1B) how many variables are in the data set? 3 1C) which variables are quantitative and which are categorical? Size is categorical and Median income and Unemployment are quantitative. 2A) Compute the average income for the sample. Average=57,500 2B) Compute the average unemployment rate for the sample. Average=8.4 2C) What percentage of the towns in the sample are small towns? 3/7*100=42.8% 3A) How many variables are in the data set? 4 3B) which variables are categorical and which are quantitative? Exchange is categorical and Market cap, P/E ratio, and Gross profit margin are all quantitative. 3C) what is the average P/E Ratio for the sample. Average=22.16 or 22.2 3D) Show a frequency diagram for P/E using the following intervals. I answered it on Excel. 4A) Construct a frequency distribution. Answer in Excel 4B) Construct a relative frequency distribution. Answer in Excel 4C) Construct a cumulative frequency distribution. Answer in Excel 4D) Construct a relative cumulative frequency distribution. Answer in Excel 4E) What proportion of waiting times is below 46 minutes? Answer in Excel 5A) compute the mean, median and mode of the data set. Mean=7.5, Medican=7.250, and Mode=5,7,8 5B) What is the first quartile? Q1=5.125 5C) What is the third quartile? Q3= 9.750 6A) Compute the mean, variance, and SD for gasoline prices. Answer in Excel 6B) Compute the range and interquartile...
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...| Course Project: AJ DAVIS DEPARTMENT STORES | | | | | | This is a report presenting detailed statistical analysis of the data collected from a sample of fifty credit customers in the department chain store AJ DAVIS. Data was collected on five variables, which were location, income, size, years at current location and credit balance. The first variable analyzed was that of Location. The location data is a categorical variable. Which was further broken down into three subcategories? These subcategories are Urban, Suburban and Rural. A frequency distribution and pie chart are given as follows: Frequency Distribution: | Location | Frequency | Urban | 21 | Suburban | 15 | Rural | 14 | The pie chart and frequency distribution, proves that the largest number of customers are those in the rural category (42%), followed by those in the suburban category (30%). There are only 28% of the customers falling into the urban category. The next variable analyzed was Size. It is a quantitative variable. Central tendency, variation and a bar graph were calculated for the Size variable. The mean household size of the customers is 3.42. And the median of the data collected is 3, the mode is 2. The standard deviation is rounded to the nearest one hundredth and is 1.74. Upon reviewing the frequency distribution chart and the bar graph, the largest number of customer household size is 2. Size | Mean | 3.42 | Median | 3 | Mode | 2 | Standard...
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...Maurice S. Butler Math533—Applied Managerial Statistics Course Project: Part A Introduction This project is based upon statistical data compiled concerning AJ Davis Department Stores, specific to a sample of its customer base. It is with intent of establishing relationship between location, gross income, and credit balances carried by customers that the following statistical analysis has been performed. It is assumed that information obtained as well as the interpretation of statistical analysis will enable credible recommendations in regard to future revenues or continued handling and/or maintenance of its receivables. Variables The first variable is the gross income of the stores’ customers. The data set includes 50 customers with gross income ranging from $20,000 to $79,000 per year. Compilation of the data into a frequency/relative frequency table (see below) reveals that the greatest frequency and relative frequency of the store’s customers is found within the $30,000 to $49,000 range. Fifty-two percent of the store’s customer base gross income is found within this range. First and third quartiles have been calculated to be 33 and 57 respectfully. However, no outliers have been identified within the data set. Income ($1000) | Frequency | Relative Frequency | 20-29 | 5 | 10% | 30-39 | 13 | 26% | 40-49 | 13 | 26% | 50-59 | 8 | 16% | 60-69 | 9 | 18% | 70-79 | 2 | 4% | | 50 | 100% | My second variable is the outstanding credit balances of...
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...analysis of AJ DAVIS department store customers. Data was collected from a sample of 50 AJ DAVIS credit customers for the purpose of learning more about the customers of AJ DAVIS. The first variable considered is Location, a categorical variable. The three subcategories are Urban, Suburban and Rural. The frequency distribution and pie chart are included. Measures of central tendency and descriptive statistics are not calculated due to the categorical nature of the variable. Frequency Distribution: LOCATION | FREQUENCY | Urban | 22 | Suburban | 15 | Rural | 13 | The largest number of customers belong to the Urban Location category (44%), followed by those in the Suburban Location category (30%). The least number of customers belong in the Rural Location category (26%). The next individual variable considered is Household Size, meaning the number of people living in the household. Size is a quantitative variable. The measures of central tendency and variation along with other descriptive statistics have been calculated for this variable. Descriptive Statistics: AJ DAVIS Customer Data - Household Size Total Variable Count N N* CumN Percent CumPct Mean SE Mean TrMean StDev C1 50 50 0 50 100 100 3.420 0.246 3.341 1.739 Sum of Variable Variance CoefVar Sum Squares Minimum Q1 Median Q3 C1 3.024 50.85 171.000 733.000 1.000...
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...variables occur). Frequency Distribution Location Frequency (# of Customers) Urban 21 Suburban 15 Rural 14 Interpretation: Based on the information shown in both the pie chart and the frequency distribution chart, we can see that more of the customers (21/50 = 42%) are from urban areas. Suburban areas are next with (15/50) 30% of the customers and rural areas have the least amount of customers with (14/50) 28%. Credit Balance The credit balance is the amount of funds that are currently charged to the credit card. Credit balance is a quantitative variable which means we actually can get an exact numerical value. A histogram is a graph of frequency distribution using rectangles. Descriptive Statistics: CREDIT BALANCE($) Total Variable Count N N* CumN Percent CumPct Mean SE Mean StDev CREDIT BALANCE($) 50 50 0 50 100 100...
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...Basics of Statistics Jarkko Isotalo 30 20 10 Std. Dev = 486.32 Mean = 3553.8 N = 120.00 0 2400.0 2800.0 2600.0 3200.0 3000.0 3600.0 3400.0 4000.0 3800.0 4400.0 4200.0 4800.0 4600.0 5000.0 Birthweights of children during years 1965-69 Time to Accelerate from 0 to 60 mph (sec) 30 20 10 0 0 Horsepower 100 200 300 1 Preface These lecture notes have been used at Basics of Statistics course held in University of Tampere, Finland. These notes are heavily based on the following books. Agresti, A. & Finlay, B., Statistical Methods for the Social Sciences, 3th Edition. Prentice Hall, 1997. Anderson, T. W. & Sclove, S. L., Introductory Statistical Analysis. Houghton Mifflin Company, 1974. Clarke, G.M. & Cooke, D., A Basic course in Statistics. Arnold, 1998. Electronic Statistics Textbook, http://www.statsoftinc.com/textbook/stathome.html. Freund, J.E.,Modern elementary statistics. Prentice-Hall, 2001. Johnson, R.A. & Bhattacharyya, G.K., Statistics: Principles and Methods, 2nd Edition. Wiley, 1992. Leppälä, R., Ohjeita tilastollisen tutkimuksen toteuttamiseksi SPSS for Windows -ohjelmiston avulla, Tampereen yliopisto, Matematiikan, tilastotieteen ja filosofian laitos, B53, 2000. Moore, D., The Basic Practice of Statistics. Freeman, 1997. Moore, D. & McCabe G., Introduction to the Practice of Statistics, 3th Edition. Freeman, 1998. Newbold, P., Statistics for Business and Econometrics...
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...Using the BIMS Part I data, Team C presents various descriptive statistics in the forms of frequency distribution table, measures of mean, median, mode, standard deviation, and graphical display of data. The first table is a frequency distribution table of one quantitative question in the BIMS data. Team C finds that the majority of the 78 respondents have between 0 to 20 months service with BIMS. The second highest group has between 40 to 60 months service with BIMS. The lowest frequency of one appears in five of the 17 classes. The classes with the lowest frequency of one are 120 < 140, 140 < 160, 240 < 260, 260 < 280, and 320 < 340. After summarizing the months of service per respondents, Team C focuses on the gender, division of employment, and manager/supervisors role questions. Team C completes the statistical summary of the BIMS data using the first 10 questions that represent the ordinal-level data. Frequency Distribution - Quantitative B. How long have you worked for BIMS? cumulative lower upper midpoint width frequency percent frequency percent 0 < 20 10 20 34 43.6 34 43.6 20 < 40 30 20 8 10.3 42 53.8 40 < 60 50 20 12 15.4 54 69.2 60 < 80 70 20 7 9.0 61 78.2 80 < 100 90 20 7 9.0 68 87.2 100 < 120 110 20 3 3.8 71 91.0 120 < 140 130 20 1 1.3 72 92.3 140 < 160 150 20 1 1.3 73 93.6 160 < 180 170 20...
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...Chapter 2 Descriptive Statistics: Tabular and Graphical Methods Summarizing Qualitative Data Summarizing Quantitative Data Exploratory Data Analysis Crosstabulations and Scatter Diagrams Summarizing Qualitative Data Frequency Distribution Relative Frequency Percent Frequency Distribution Bar Graph Pie Chart Frequency Distribution A frequency distribution is a tabular summary of data showing the frequency (or number) of items in each of several nonoverlapping classes. The objective is to provide insights about the data that cannot be quickly obtained by looking only at the original data. Example: Marada Inn Guests staying at Marada Inn were asked to rate the quality of their accommodations as being excellent, above average, average, below average, or poor. The ratings provided by a sample of 20 guests are shown below. Below Average Average Above Average Above Average Above Average Above Average Above Average Below Average Below Average Average Poor Poor Above Average Excellent Above Average Average Above Average Average Above Average Average Example: Marada Inn Frequency Distribution Rating Frequency Poor 2 Below Average 3 Average 5 Above Average 9 Excellent 1 Total 20 Relative Frequency Distribution The relative frequency of a class is the fraction or proportion of the total number...
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...Ben (Yu Zhenghao) Case study 1 February 3, 2012 Set A 1. The average age of customers is 43.08. 2. The average age of the married customers is 44.5. 3. The average age of single customers is 35.625. 4. Female:93% Male:7% 5. The average sales of single customers are 75.35 and average sales of married customers are 78.02. Married customers consumed much than single customers. Set B 1.Method of Payment | Frequency distribution | Proprietary Card | 70 | MasterCard | 14 | Visa | 10 | Discover | 4 | American Express | 2 | 2. | Relative frequency distribution | Percent frequency distribution | Proprietary Card | 0.7 | 70% | MasterCard | 0.14 | 14% | Visa | 0.1 | 10% | Discover | 0.04 | 4% | American Express | 0.02 | 2% | 3. The graph shows the proportion of five payments. It seems that proprietary card covers the most area. The bar chart clearly shows the number of five means of payments. Besides, the frequency of the use of five methods of payment is also clearly notified. 4. Proprietary Card has the most use of customers. Set C 1. 2 | 0 | 0 | 2 | 2 | 4 | 8 | 8 | 8 | 8 | 8 | | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 4 | 4 | 4 | 6 | 6 | 6 | 6 | 6 | 6 | 8 | 8 | 8 | 8 | 8 | | 4 | 0 | 0 | 0 | 0 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 8 | 8 | 8 | 8 | 8 | 8 | | 5 | 0 | 0 | 0 | 2 | 2 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 6 |...
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