Business Statistics BUSA 3101 Dr. Lari H. Arjomand lariarjomandclayton

Business Statistics BUSA 3101 Dr. Lari H. Arjomand lariarjomandclayton PowerPoint PPT Presentation


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Chapters 2

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Business Statistics BUSA 3101 Dr. Lari H. Arjomand lariarjomandclayton

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2. Chapters 2 & 3 (Part A) Descriptive Statistics: Tabular and Graphical Presentations Summarizing Qualitative Data Summarizing Quantitative Data

3. Summarizing Qualitative Data Frequency Distribution Relative Frequency Distribution Percent Frequency Distribution Bar Graph Pie Chart

4. Construction of a Frequency Distribution

6. 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:

9. Percent Frequency Distribution

11. Bar Graph

13. Pie Chart

16. Summarizing Quantitative Data Frequency Distribution Relative Frequency and Percent Frequency Distributions Dot Plot Histogram Cumulative Distributions Ogive

17. 1- Determine range 2- Select number of classes Usually between 5 and 20 inclusive 3- Compute class intervals (width) 4- Determine class boundaries (limits) 5- Compute class midpoints 6- Count observations & assign to classes Frequency Distribution Table Steps

18. Example: Hudson Auto Repair

20. Frequency Distribution Guidelines for Selecting Number of Classes

21. Frequency Distribution (Continued) Guidelines for Selecting Width of Classes

22. Example: Frequency Distribution For Hudson Auto Repair, if we choose six classes:

23. Solution Using SWStat+ After putting your data into Excel, then create Data Area:

24. SwStat Statistics Tabulations and Histograms Note that here we are using 10 classes—you can use 6 classes if you would like to do so. Solution Using SWStat (cont.)

25. Results: Solution Using SWStat (cont.)

26. Relative Frequency and Percent Frequency Distributions

28. Dot Plot One of the simplest graphical summaries of data is a dot plot. A horizontal axis shows the range of data values. Then each data value is represented by a dot placed above the axis.

29. Dot Plot

30. Histogram

31. Histogram

32. Symmetric Left tail is the mirror image of the right tail Example: heights and weights of people Histogram (Continued)

33. Moderately Skewed Left A longer tail to the left Example: exam scores Histogram (Continued)

34. Moderately Right Skewed A Longer tail to the right Example: housing values Histogram (Continued)

35. Highly Skewed Right A very long tail to the right Example: executive salaries Histogram (Continued)

37. Cumulative Distributions Example: Hudson Auto Repair

41. Frequency Distribution Table Another Example

42. Frequency Distribution Table Example (Continued)

45. Relative Frequency & % Distribution Tables Example (Continued) The number of classes is usually between 5 and 15. Only 3 are used here for illustration purposes.The number of classes is usually between 5 and 15. Only 3 are used here for illustration purposes.

46. Cumulative Percentage Distribution Table Example (Continued) The number of classes is usually between 5 and 15. Only 3 are used here for illustration purposes.The number of classes is usually between 5 and 15. Only 3 are used here for illustration purposes.

47. End of Chapters 2 & 3, Part A

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