BUSINESS STATISTICSMGT 2302

Lecturer Name : Liyana ‘Adilla

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SCHOOLOGY ACCESS CODE:

 7QRB9-4MPNN

OBJECTIVE

1. To gain student’s understanding of the basic principles and methods of business statistics and obtain experience in applying those principles to analyze data real data.

2. Provide student’s with an understanding and ability to apply statistical techniques in the analysis of business assessment for good decision-making.

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OBJECTIVE3. To emphasis students on probability theory and

sampling techniques, statistical inferences, regression analysis, the use of statistical software and the interpretation and use of resulting computer output.

4. To expose students to statistical techniques for business decisions and business research. Exposing

a. Use and interpret data for decision making.b. Enhance their skills in using statistical techniques.c. Enhance their skills and ability to use these

techniques.

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Learning OutlineWeek Topic1 & 2 1. Introduction to Statistic

3 , 4 & 5

2. Presenting numerical information

3. Summarizing data

6 & 75. Correlation 6. Regression Analysis

88. Time series analysis

and forecasting

9 9. Price Index

10 10.Probability11 11. Probability distribution

12 12.Estimation

13 Presentation

14 Revision

ASSESSMENT STRUCTURE

QUIZ 5% W1 MIDTERM 20% W7/8 ASSIGNMENT 25 % W9 TUTORIAL 10% FINAL EXAMINATION 50% W16

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CONTENT

1.1 What is Statistics1.2 Use of Statistics1.3 Primary Data1.4 Secondary Data

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1.1: WHAT IS STATISTICS?

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Most people become familiar with probability and statistics through radio, television, newspapers, and magazines. For example, the following statements were found in newspapers.

• Only 2 out of 11864 National Service dodgers have been hailed to the court

• Based on the 2000 census, 40.5 million households have two vehicles.

• The average annual salary for a professional football player for the year 2001 was $1,100,500.

• The average cost of a wedding is nearly RM10,000.

• In USA, the median salary for men with a bachelor’s degree is $49,982, while the median salary for women with a bachelor’s degree is $35,408.

• Based on a survey of 250,000 individual auto leases signed from March 1 through April 15, 2002, 73% were for a Jaguar.

• Women who eat fish once a week are 29% less likely to develop heart disease.

Introduction (Cont.)

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Most people become familiar with probability and statistics through radio, television, newspapers, and magazines. For example, the following statements were found in newspapers.

PREPARED BY MS. LIYANA ADILLA

STATISTICS

a branch of mathematics dealing with the collection, analysis, interpretation, and presentation of masses of numerical data

a collection of quantitative data

Source - http://www.merriam-webster.com/dictionary/statistics

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IS STATISTICS IMPORTANT ?

DISCUSS

WITH

YOUR

TEAMMATES

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LOLX, don’t

discuss like

them !

Why you should study STATISTICS?

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1. Students as well as the professional people, must be able to read and understand the various statistical studies performed in their fields. To have this understanding, they must be knowledgeable about the vocabulary, symbols, concepts, and statistical procedures used in these studies.

2. Students and professional people may be called on to conduct research in their fields, since statistical procedures are basic to research studies. To accomplish this, they must be able to design experiments; collect, organize, analyze, and summarize data; and possibly make reliable predictions or forecasts for future use. They must also be able to communicate the results of the study in their own words.

3. Students and professional people can also use the knowledge gained from studying statistics to become better consumers and citizens. For example, they can make intelligent decisions about what products to purchase based on consumer studies about government spending based on utilization studies, budget, expenses and so on.

VARIOUS USE OF STATISTICS

Statistics is used in almost all fields of human endeavor.

In sports, statistician may keep records of the number of yards a running back

gains during a football game, or the number of hits a baseball player gets in a season.

In public health an administrator might be concerned with the number of residents

who contract a new strain of flu virus during a certain year.

In education A researcher want to know if new methods of teaching are better than

old ones.

Furthermore, statistics is used to analyze the results of surveys and as a tool in scientific research to make decisions based on controlled experiments.

Other uses of statistics include operations research, quality control, estimation, and prediction.

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OBTAINING DATA

PRIMARY SOURCE

SECONDARY SOURCE

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Original data compiled and studied for a specific purpose.

DIRECT OBSERVATION

SURVEYS

INTERVIEWS

LOGS

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PRIMARY DATA

SOURCE

Data collected by someone other than the user. Common sources of secondary data for social science

include censuses, surveys, organizational records.

TV, radio, internet

Magazines, newspapers

Reviews

Research articles

Stories told by people you know

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SECONDARY DATA

SOURCE

Brainstorm about the examples of Primary DataSecondary Data

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Now In Pairs

•Observing students whether they are asleep during lectures.• Interview a professor about how to prepare an academic writing.

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Examples of Primary Data

Information that has been collected by another agency. Examples of secondary data include

•Government reports and statistics, •Company reports and accounts, and •Weather reports in newspapers.

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Examples of Secondary Data

Class Tutorial

1) DEFINE STATISTICS?2) NOTE DOWN TWO USE OF

STATISTICS.3) DEFINE PRIMARY DATA.4) DEFINE SECONDARY DATA.

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The applications of statistics are many and varied. People encounter them in everyday life, such as in reading newspapers or magazines, listening to the radio, or watching television.

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Conclusion

THANK YOU

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