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CHAPTER 1:

INTRODUCTION

WHAT IS STATISTICS?

Definition
Statistics is a group of methods used
to collect, analyze, present, and
interpret data and to make decisions.

TYPES OF STATISTICS

Definition
Descriptive Statistics consists of
methods for organizing, displaying,
and describing data by using tables,
graphs, and summary measures.

TYPES OF STATISTICS

Definition
Inferential Statistics consists of
methods that use sample results to
help make decisions or predictions
about a population.

POPULATION VERSUS
SAMPLE

Definition
A population consists of all elements
individuals, items, or objects
whose characteristics are being
studied. The population that is being
studied is also called the target
population.
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POPULATION VERSUS
SAMPLE cont.

Definition
A portion of the population selected
for study is referred to as a sample.

Figure 1.1 Population and sample.


Population
Sampl
e

POPULATION VERSUS
SAMPLE cont.

Definition
A survey that includes every number
of the population is called a census.
The technique of collecting
information from a portion of the
population is called a sample
survey.
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POPULATION VERSUS
SAMPLE cont.

Definition
A sample that represents the
characteristics of the population as
closely as possible is called a
representative sample.

POPULATION VERSUS
SAMPLE cont.

Definition
A sample drawn in such a way that
each element of the population has a
chance of being selected is called a
random sample. If the chance of
being selected is the same for each
element of the population, it is called
a simple random sample.
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BASIC TERMS
Table 1.1

An element
or a
member

2001 Sales of Seven U.S. Companies

Company
Wal-Mart Stores
IBM
General Motors
Dell Computer
Procter &
Gamble
JC Penney
Home Depot

2001 Sales
Variable
(millions of dollars)
217,799
85,866
177,260
31,168
39,262
32,004
53,553

An observation
or
measurement

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BASIC TERMS cont.

Definition
An element or member of a sample
or population is a specific subject or
object (for example, a person, firm,
item, state, or country) about which
the information is collected.

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BASIC TERMS cont.

Definition
A variable is a characteristic under
study that assumes different values
for different elements. In contrast to a
variable, the value of a constant is
fixed.

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BASIC TERMS cont.

Definition
The value of a variable for an element
is called an observation or
measurement.

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BASIC TERMS cont.

Definition
A data set is a collection of
observations on one or more
variables.

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TYPES OF VARIABLES

Quantitative Variables

Discrete Variables
Continuous Variables

Qualitative or Categorical Variables

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Quantitative Variables

Definition
A variable that can be measured
numerically is called a quantitative
variable. The data collected on a
quantitative variable are called
quantitative data.

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Quantitative Variables
cont.

Definition
A variable whose values are countable
is called a discrete variable. In other
words, a discrete variable can assume
only certain values with no
intermediate values.

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Quantitative Variables
cont.

Definition
A variable that can assume any
numerical value over a certain interval
or intervals is called a continuous
variable.

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Qualitative or Categorical
Variables

Definition
A variable that cannot assume a
numerical value but can be classified
into two or more nonnumeric
categories is called a qualitative or
categorical variable. The data
collected on such a variable are called
qualitative data.
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Figure 1.2

Types of variables.

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CROSS-SECTION VERSUS
TIME-SERIES DATA

Cross-Section Data
Time-Series Data

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Cross-Section Data

Definition
Data collected on different elements at
the same point in time or for the same
period of time are called crosssection data.

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Table 1.2

2002 Net Worth of Six Persons

Name
Bill Gates
Warren Buffett
Helen Walton
George Lucas
Ted Turner
Ralph Lauren

2002 Net Worth


(billions of
dollars)
43.0
36.0
18.8
3.0
2.2
2.0

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Time-Series Data

Definition
Data collected on the same element for
the same variable at different points in
time or for different periods of time are
called time-series data.

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Table 1.3

Price of a 30-Second TV Commercial


During Super Bowl Telecast

Year

Super Bowl

Price of a 30-Seconf TV
Commercial (million dollars)

1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003

XXVII
XXVIII
XXIX
XXX
XXXI
XXXII
XXXIII
XXXIV
XXXV
XXXVI
XXXVII

.85
.90
1.00
1.10
1.20
1.30
1.60
2.10
2.05
1.90
2.20

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SOURCES OF DATA

Data may be obtained from

Internal sources
External sources
Surveys and experiments

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SUMMATION NOTATION

Example 1-1
Annual salaries (in thousands of
dollars) of four workers are 75, 42, 125,
and 61. Find
x
b) (x)
c) x
a)

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Solution 1-1
a)

b)
c)

x = x1 + x2 + x3 + x4
= 75 + 42 + 125 + 61
= 303 = $303,000
(x) = (303) = 91,809
x = (75) + (42) + (125) + (61)
= 5625 + 1764 + 15,625 + 3721
= 26,735
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Example 1-2
The following table lists four pairs of m and f
values:
m

12

15

20

30

10

16

Compute the following:


a)
b)
c)
d)

m
f
mf
mf
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Solution 2-1
Table 1.4
m

12
15
20
30

5
9
10
16

5 x 5 = 25
9 x 9 = 81
10 x 10 =
100
16 x 16 =
256

m =
77

f = 40

f = 462

mf

mf

12 x 12 x 5 =
12 x 5 = 60
720
15 x 9 =
15 x 15 x 9 =
135
2025
20 x 10 =
20 x 20 x 10 =
200
4000
30 x 16 =
30 x 30 x 16 =
480
14,400
mf = 875

mf = 21,145
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