Lectures Applied statistics for business: Chapter 1 - ThS. Nguyễn Tiến Dũng

Lectures "Applied statistics for business - Chapter 1: Data and statistics" provides students with the knowledge: Applications in business and economics, data, data sources, descriptive Statistics, statistical Inference, computer and statistical analysis, data mining, ethical guidelines for statistical practice. Invite you to refer to the disclosures.
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Lectures Applied statistics for business: Chapter 1 - ThS. Nguyễn Tiến Dũng Chapter 1 DATA AND STATISTICS MBA Nguyen Tien Dung School of Economics and ManagementWebsite: https://sites.google.com/site/nguyentiendungbkhn Email: dung.nguyentien3@hust.edu.vn Main Contents1.1 Applications in Business and Economics1.2 Data1.3 Data Sources1.4 Descriptive Statistics1.5 Statistical Inference1.6 Computer and Statistical Analysis1.7 Data Mining1.8 Ethical Guidelines for Statistical Practice© Nguyễn Tiến Dũng Applied Statistics for Business 2 1.1 Applications in Business and Economics● Statistics is essential for all other sciences ● Statistics about data ● All sciences need to get, to analyse and to present data and results● For a business ● R&D (Research & Development) ● Marketing ● Production ● Quality ● Human Resources ● Accounting ● Finance ● Information● For economics ● Policies for developing cities, districts, provinces and nations.© Nguyễn Tiến Dũng Applied Statistics for Business 3 1.2 Data ● Elements: the entities on which data are collected. ● Variables: a characteristic of interest for the elements. ● Observations: the number of observations or the size of a sample© Nguyễn Tiến Dũng Applied Statistics for Business 4 ● 60 elements, 60 observations ● 5 variables© Nguyễn Tiến Dũng Applied Statistics for Business 5 Features of Data● Scale of Measurement ● Nominal ● Ordinal ● Interval ● Ratio● Categorical and Quantitative Data ● Categorical: nominal, ordinal data ● Quantitative Data: interval, ratio data● Cross-sectional and Time-series data© Nguyễn Tiến Dũng Applied Statistics for Business 6 Nominal Scale and Data● Distinguish between items, do not rank them.● Are you 1. Male? 2. Female?● What is your marital status? ● 1. Single 2. Married 3. Divorced© Nguyễn Tiến Dũng Applied Statistics for Business 7 Ordinal Scale and Data● Ranking items, do not know the distance between them.● Are you ● 1. A junior student? ● 2. A senior student?● What is your average monthly income? ● 1. Below USD 200 ● 2. From USD 201 – 400 ● 3. From USD 401 – 600 ● 4. From USD 601 – 800 ● 5. From USD 801 – 1000 ● 6. Above USD 1000© Nguyễn Tiến Dũng Applied Statistics for Business 8 Interval Scale and Data● Measures the distance between items, but does not have an absolute zero (anchor) point.● Temperature scale: Celcius, Farenheit degree scales● How do you feel about the Statistics course? ● Very easy 1 2 3 4 5 Very difficult ● Very unuseful 1 2 3 4 5 Very useful© Nguyễn Tiến Dũng Applied Statistics for Business 9 Ratio Scale and Data● Interval scale + an absolute and meaningful zero point.● Time, distance scale: hour, minute, centimetre© Nguyễn Tiến Dũng Applied Statistics for Business 10 Distribution of University Entry National Exam Marks (2013)© Nguyễn Tiến Dũng Applied Statistics for Business 11 Weather Statistics© Nguyễn Tiến Dũng Applied Statistics for Business 12 Source: http://finance.vietstock.vn/, accessed 16 Aug 2014© Nguyễn Tiến Dũng Applied Statistics for Business 13 1.3 Data Sources● Existing sources (secondary data)© Nguyễn Tiến Dũng Applied Statistics for Business 14© Nguyễn Tiến Dũng Applied Statistics for Business 15 General Statistical Office in Vietnam: www.gso.gov.vn© Nguyễn Tiến Dũng Applied Statistics for Business 16© Nguyễn Tiến Dũng Applied Statistics for Business 17© Nguyễn Tiến Dũng Applied Statistics for Business 18 Statistical Studies (primary data) ● Observational studies ● Descriptive research ● Including: ● Observations ● Diaries ● In-depth interviews ● Group discussions ● Surveys ● Experimental studies ● Causal research ● Including ● Experiments in a simulated condition ● Experiments in a real condition© Nguyễn Tiến Dũng Applied Statistics for Business 19 Survey Questionnaires© Nguyễn Tiến Dũng Applied Statistics for Business 20