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Data and Statistics. Chapter 1 BA 201 – Fall 2010. Statistics. Numerical facts such as averages, medians, percents, and index numbers. Art and science of collecting, analyzing, presenting, and interpreting data. . Data and Data Sets.

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data and statistics

Data and Statistics

Chapter 1

BA 201 – Fall 2010

statistics
Statistics
  • Numerical facts such as averages, medians, percents, and index numbers.
  • Art and science of collecting, analyzing, presenting, and interpreting data.
data and data sets
Data and Data Sets
  • Data are the facts and figures collected, analyzed, and summarized for presentation and interpretation.
  • The data set is all the data collected in a particular study.
elements variables and observations
Elements, Variables, and Observations
  • Elements are the entities on which data are collected.
  • A variable is a characteristic of interest for the elements.
  • An observation is the set of measurements obtained for a particular element.
slide5

Data Sets, Elements, Variables, and Observations

Variables

Observation

Elements

Stock Annual Earn/

Exchange Sales($M) Share($)

NQ 73.10 0.86

N 74.00 1.67

N 365.70 0.86

NQ 111.40 0.33

N 17.60 0.13

Dataram

EnergySouth

Keystone

LandCare

Psychemedics

N 74.00 1.67

Data Set

scales of measurement
Scales of Measurement

Nominal

Ordinal

Interval

Ratio

scales of measurement1
Scales of Measurement
  • Nominal – labels or names.
    • E.g., CoB, CoST, CoAL, CoH; male or female; department 1, 2, 3, 4, …
  • Ordinal - have the properties of nominal data and the order or rank of the data is meaningful.
    • E.g., Freshman, Sophomore, Junior, or Senior
scales of measurement2
Scales of Measurement
  • Interval – have the properties of ordinal data, and the interval between observations is expressed in terms of a fixed unit of measure.
    • E.g., ACT score of 23, 24, 25, …; years.
    • Numeric
  • Ratio - have all the properties of interval data and the ratio of two values is meaningful.
    • E.g., 30 credit hours versus 120 credit hours
    • Must include zero
what you can do with scales
What You Can Do With Scales

http://www.graphpad.com/faq/viewfaq.cfm?faq=1089

categorical or quantitative data
Categorical or Quantitative Data

Categorical (or Qualitative)

Quantitative

How much or how many

Numeric

Interval or ratio

More statistical tests available

  • Grouped by categories
  • Numeric or non-numeric
  • Nominal or ordinal
slide11

Scales of Measurement

Data

Categorical

Quantitative

Numeric

Numeric

Non-numeric

Nominal

Ordinal

Nominal

Ordinal

Interval

Ratio

cross sectional or time series data
Cross-Sectional or Time Series Data
  • Cross-sectional data are collected at the same or approximately the same point in time.
    • E.g., Building permits in January
  • Time series data are collected over several time periods.
    • E.g., Building permits each month
data sources
Data Sources
  • Existing Sources – data already exists.
  • Statistical Studies – data obtained through a study.
    • Experimental Studies – variable of interest identified and other variables controlled.
    • Observational studies – no attempt is made to control or influence the variables of interest.
descriptive statistics
Descriptive Statistics
  • Data summarized and presented in a form that is easy for the reader to understand.
  • Tabular, graphical, or numerical.

Average

Tune-up

= $79

statistical inference
Statistical Inference
  • Use data from a sample to make estimates or test hypotheses about a population.
statistical inference1
Statistical Inference
  • Population – set of all elements in a particular study.
    • Census – collects data about entire population.
  • Sample – a subset of the population.
    • Sample survey – collects data for a sample.
statistical inference2
Statistical Inference

Population

Sample

Statistics about sample

Statistics about the sample provide an estimate of the population.