© 2003 prentice-hall, inc. statistics for managers david towers tel: 012437668 [email protected]
TRANSCRIPT
© 2003 Prentice-Hall, Inc.
My Experience and Background
AALCO – MIS System and ISO 9000 work in largest metal supplier in UK
Aberdeen College – College Statistician. Supplying MI for Strategic Management, Funding, PI, Marketing
Nortel Networks – Statistician -Improving Quality by Using Statistics to develop Performance Metrics
BACS – Senior Statistician. Forecasting trends for the worlds Largest Bank Clearing House
Progression LLC – Management Consultancy Sheffield Hallam University - MIS for Strategic
Management
© 2003 Prentice-Hall, Inc.
The Course Aim, Purpose and Learning Outcomes
Course Aim and Purpose:This course has aims provide a practical and approach to in the
use of statistics in order for the students to gain an understanding about: -
Basic statistical theory Management statistics used in different organizations; and Statistical techniques used to undertake research.
Learning Outcomes:It is intended for a student to gain an understanding: - how to use computers to undertake statistical tasks how to explore and understand data How to display data. how to investigate the relationship between variables. about statistical confidence intervals how to use and select basic statistical hypothesis tests
© 2003 Prentice-Hall, Inc.
Why is this course important for Graduate Students
You will learn How to provide and analyze
Management information used in Business Government and Educational organizations
How to apply basic statistics techniques to conduct in the business and academic environment
© 2003 Prentice-Hall, Inc.
How you will be graded
Grading may subject to change
The overall course grade will be derivedfrom the following assessments:50% - Final Exam20% - Mid Term Exam15% - Homework10% - Data Analysis Assignment5% - Class Participation
© 2003 Prentice-Hall, Inc.
Course Content
1. Introduction to statistics and data2. Presenting Numerical and Categorical
Data in Tables and Charts 3. Numerical Descriptive Measures4. The Normal Distribution Fundamentals
of Hypothesis Testing
© 2003 Prentice-Hall, Inc.
About this course This course attempts not to be a traditional
statistics course of formulas and definitions. This course will also follow book Business Basic
Statistics (8th Edition) Prentice Hall 2003
The lecture will be complemented from the CD Rom supplied with the Basic Business Statistics
A SPSS course will be given next term when you study Business Research Methods
© 2003 Prentice-Hall, Inc.
Statistics for Managers
Chapter 1Data and its context
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Chapter Topics
What is Statistics Why a Manager Needs to Know About
Statistics The Growth and Development of Modern
Statistics Some Important Definitions Descriptive Versus Inferential Statistics
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Chapter Topics
Why Data are Needed Types of Data and Their Sources Data and its Context
(continued)
© 2003 Prentice-Hall, Inc.
What is Statistics?
Control, Minimize as see past the Variability
Methods to display, compare and model
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Why a Manager Needs to Know About Statistics
To Know How to Properly Present Information
To Know How to Draw Conclusions about Populations Based on Sample Information
To Know How to Improve Processes To Know How to Obtain Reliable
Forecasts
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The Growth and Development of Modern
Statistics
Needs of government to collect data on its citizenry
The development of the mathematics of probability theory
The advent of the computer
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Some Important Definitions
A Population (Universe) is the Whole Collection of Things Under Consideration
A Sample is a Portion of the Population Selected for Analysis
A Parameter is a Summary Measure Computed to Describe a Characteristic of the Population
A Statistic is a Summary Measure Computed to Describe a Characteristic of the Sample
© 2003 Prentice-Hall, Inc.
Population and Sample
Population Sample
Use parameters to summarize features
Use statistics to summarize features
Inference on the population from the sample
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Statistical Methods
Descriptive Statistics Collecting and describing data
Inferential Statistics Drawing conclusions and/or making
decisions concerning a population based only on sample data
© 2003 Prentice-Hall, Inc.
Descriptive Statistics
Collect Data E.g., Survey
Present Data E.g., Tables and graphs
Characterize Data E.g., Sample Mean =
iX
n
© 2003 Prentice-Hall, Inc.
Inferential Statistics
Estimation E.g., Estimate the
population mean weight using the sample mean weight
Hypothesis Testing E.g., Test the claim that
the population mean weight is 120 poundsDrawing conclusions and/or making decisions concerning a population based on sample results.
© 2003 Prentice-Hall, Inc.
Why We Need Data
To Provide Input to Survey To Provide Input to Study To Measure Performance of Ongoing Service or
Production Process To Evaluate Conformance to Standards (Is the
target being achieved) To Assist in Formulating Alternative Courses of
Action (Plan how to take action when the target is not achieved)
To Satisfy Curiosity
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Data Sources
Observation
Experimentation
Survey
Print or Electronic
Data Sources
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Types of Data
Nominal Ordinal
Categorical(Qualitative)
Discrete Continuous
Numerical(Quantitative)
Data
© 2003 Prentice-Hall, Inc.
Hand outs
Your Handouts will be e-mailed to you before the lecture.
You will need to down load the files and print them so you can take them to the Lecture
However, today is your first lecture so we have prepared some paper copies
© 2003 Prentice-Hall, Inc.
Two Types of Variables Data Type ExampleCategorical (Qualitative)
Nominal Hair Color, Political Party
Data in Groups Ordinal(Data in Order)
Age: Child, Young, OldEducation Level: None, High School, Degree, Post Grad
Numerical (Quantitative)
Discrete
Continuous
Age in years 1 year, 2 years
1 man 2 men 3 men…Salary $360….$200000Always has Units
What type of variables is Make of Car, Subject, Profit, Religion, Gender
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What are the Data?
Data Values – not matter what Kind are useless without their context
Who (or what) is being surveyed? Essential What Information is being collected? Essential When ( was the data collected – It may not say) Where ( was the data collected – It may not say) Why ( was the data collected – It may not say) How ( was the data collected – It may not say)
© 2003 Prentice-Hall, Inc.
Example 1Levi Strauss & Company, the makers of jeans,
surveyed students. The Students were shown a list of clothing. They were asked : -
“Which clothes would be most popular this year?” Who or what is being surveyed? A) Students B) Jeans C) Levi Strauss What Information is being collected? A) Clothes Popularity B)Jeans C) Students Why was the data collected? A) Advertising B)Marketing C) Don’t Know
© 2003 Prentice-Hall, Inc.
Example 2
Advertisements in the New York Times claimed that 84% of frequent business travelers prefer Midway Metrolink flights to Chicago rather than flights on American, United, or T W A.
What Information was collected?A) Airline Preference B) Travel Frequency C) Business
Travelers Why was the data collected?A) Advertising B)Marketing C) Don’t Know Who or what is being surveyed? A) Business Executives B) Business Travelers C)
Experienced Travelers
© 2003 Prentice-Hall, Inc.
Example 3: A survey sponsored by the Gun Industry found
that 54% of adults in the U.S. felt that it would not be fair to ban Handguns
Why was the data collected? A) Advertising B)Marketing C) To Persuade
Government Who or what is being surveyed? A) Robbers B) Soldiers C) U.S. Adults What Information was collected? A) Gun Preference B) Frequency Guns Used C) Show
me the question!
© 2003 Prentice-Hall, Inc.
Example 1: In 2004, Toyota Car Company did Market Research by telephone to identify what their customers living in Cambodia wanted in their next car. The interviewer just asked 4 questions: -
1. Sex (Select Male or Female)2. The Type of Car the respondents wanted (Select Sports Car, 4x4 Car,
Luxury Car, Other)3. The exact price they would pay for a Car the respondents would bay
(Answer number of $ dollars)4. The age of the customer (Answer given by selecting 18-25, 25-40,40-
45,45-60, Older than 60)Who/What is getting surveyed
Categorical-Nominal
Categorical Ordinal
Numerical-Scale
What information is collected in the telephone survey?
e.g. Sex
Why Where When How
x
© 2003 Prentice-Hall, Inc.
Example 2: In May, a student wanted survey the Motos in a University car park to see what other students drove. He looked at each moto and recorded the following information on paper
How Old the Motos (He ticked either New, Old , Very Old) Country the moto was made in The name of the firm that made the moto Distance Driven in milesComplete the following table
Who/What is getting surveyed
Categorical-Nominal
Categorical Ordinal
Numerical-Scale
What information is collected in the survey?
e.g. How old the moto was
Why Where When How
X