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Cbmec3 Lesson1

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18 views

Cbmec3 Lesson1

Uploaded by

Romelyn Joy Jangao
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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INTRODUCTION TO

BUSINESS
STATISTICS
ERIC MATTHEW L. SENERPIDA
WHAT IS STATISTICS?
STATISTICS IS THE SCIENCE OF COLLECTING, ORGANIZING,
PRESENTING, ANALYZING, AND INTERPRETING DATA TO
ASSIST IN MAKING MORE EFFECTIVE DECISIONS
What is meant by STATISTICS?
We can define statistics in two ways.
1. Plural sense. It is an aggregate or collection of numerical facts.
2. Singular sense. Statistics is defined as the science of collecting, organizing,
presenting, analyzing, and interpreting numerical data for the purpose of
assisting in making a more effective decision

Example:
- Inflation Rate is 2%
- General Weighted Average (GWA) – 1.22
- The Price of Ford Ranger 2.0L Bi-Turbo Wildtrak 4x4 – 1,910,000
TYPES OF STATISTICS
Depending on how data can be used, statistics is sometimes divided into two
main areas or branches.
1. Descriptive Statistics: is concerned with summary calculations, graphs,
charts, and tables.
2. Inferential Statistics: is a method used to generalize from a sample to a
population. For example, the average income of all families (the population) in
Ethiopia can be estimated from figures obtained from a few hundred (the
sample) families.
It is important because statistical data usually arises from the sample.
Statistical techniques based on probability theory are required.
TYPES OF VARIABLES
1. Qualitative Variables are non-numeric variables and can't be measured.
Examples include gender, religious affiliation, and state of birth.
2. Quantitative Variables are numerical variables and can be measured.
Examples include the balance in the checking account, number of children in
the family. Note that quantitative variables are either discrete (which can
assume only certain values, and there are usually "gaps" between the values,
such as the number of bedrooms in your house) or continuous (which can
assume any value within a specific range, such as the air pressure in a tire.)
LEVELS OF MEASUREMENT
NOMINAL
The first level of measurement is the nominal level. In this level of measurement, the
numbers in the variable are used only to classify the data.
Suppose there is data about people belonging to three different gender categories. In
this case, the person belonging to the female gender could be classified as F, the
person belonging to the male gender could be classified as M, and the transgendered
classified as T. This type of assigning classification is the nominal level of measurement.

1.Marital status (e.g., single, married, divorced, widowed)


2.Types of vehicles (e.g., sedan, SUV, truck)
3.Blood types (e.g., A, B, AB, O)
4.Political affiliations (e.g., Democrat, Republican, Independent)
5.Types of animals (e.g., dog, cat, bird)
ORDINAL
The second level of measurement is the ordinal level of measurement. This level of
measurement depicts some ordered relationship among the variable’s observations.
Suppose a student scores the highest grade of 100 in the class. In this case, he would be assigned the
first rank. Then, another classmate scores the second highest grade of an 92; she would be assigned the
second rank. A third student scores a 81 and he would be assigned the third rank, and so on. The
ordinal level of measurement indicates an ordering of the measurements.
1.Educational attainment (e.g., elementary school, middle school, high school)
2.Likert scale responses (e.g., strongly disagree, disagree, neutral, agree, strongly agree)
3.Socioeconomic status (e.g., low income, middle income, high income)
4.Customer feedback ratings (e.g., poor, fair, good, excellent)
5.Job satisfaction levels (e.g., very dissatisfied, somewhat dissatisfied, neutral, somewhat satisfied, very
satisfied)
INTERVAL
At the interval level, data is ordered, and the intervals between values are meaningful, but there is
no true zero point. Interval data can represent both relative differences and the magnitude of
differences between values.
An example of this level of measurement is temperature in centigrade, where, for example, the
distance between 940C and 960C is the same as the distance between 1000C and 1020C.
1.IQ score (measured on a standardized scale)
2.Temperatures in degrees Celsius or Fahrenheit
3.pH levels (acidity or alkalinity)
4.Calendar dates (measured in days, months, or years)
RATIO
At the ratio level, data is ordered, the intervals between values are meaningful, and there is a true zero
point. Ratio data allows for meaningful statements about the magnitude of differences and the
existence of absolute zero.
The zero in the scale makes this type of measurement, unlike the other types of measurement,
although the properties are similar to that of the interval level of measurement. In the ratio level of
measurement, the divisions between the points on the scale have an equivalent distance between them.
1.Height in centimeters or inches
2.Weight in kilograms or pounds
3.Age in years
4.Income in dollars (with a true zero point)
5.Distance traveled in miles or kilometers (with a true zero point)
EXERCISE
1. Type of Movies
2. Teacher Evaluation
3. Age
4. Nutrients in the Food
5. Calories
6. Calendar Year
7. Test Scores
8. Hair Color
9. Job Positions
10. Customer Service Satisfaction
QUIZ
A. SALARY
B. GENDER
C. SALES VOLUME OF IPHONE
D. SOFT DRINK PREFERENCE
E. TEMPERATURE
F. SURVEY RESPONSES
G. STUDENT RANK IN CLASS
H. TEACHER EVALUATION
I. NUMBER OF ML CHAMPIONSHIPS

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