BUSINESS MATHEMATICS & STATISTICS
Module 5 Statistical data representation ( Lecture 23) Measures of central tendency ( Lectures 24-25) Measures of dispersion and skewness ( Lectures 26-27)
Time Series and Exponential Smoothing Module 6 Correlation ( Lecture 28-29) Line Fitting ( Lectures 30-31) Time Series and Exponential Smoothing ( Lectures 32-33)
Module 7 Factorials Permutations and Combinations ( Lecture 34) Elementary Probability ( Lectures 35-36) Chi-Square ( Lectures 37) Binomial Distribution ( Lectures 38)
Module 8 Patterns of probability: Binomial, Poisson and Normal Distributions ( Lecture 39-41) Estimating from Samples: Inference ( Lectures 42-43) Hypothesis testing : Chi-Square Distribution ( Lectures 44-45) End-Term Examination
LECTURE 23 Statistical Data Representation
STATISTICAL DATA Information is collected by government departments, market researchers, opinion pollsters and others Information then has to be organised and presented in a way that is easy to understand
BASIS FOR CLASSIFICATION 1. Qualitative Attributes: sex, religion 2. Quantitative Characteristics: Heights, weights, incomes etc. 3. Geographical Geographical regions: Provinces, divisions etc. 4. Chronological or Temporal By time of occurence: Time series
TYPES OF CLASSIFICATION One-way One characteristic: Population Two-way Two characteristics at a time Three-way Three characteristics at a time
METHODS OF PRESENTATION Text ”The majority of population of Punjab is located in rural areas.” Semitabular Data in rows Tabular Tables with rows and columns Graphic Charts and graphs
TYPES OF GRAPHS Column Graphs Line Graphs Circle Graphs (Sector Graphs) Conversion Graphs Travel Graphs Statistical Graphs Frequency Tables Histograms Frequency distributionds Cumulative Distributions
Commulated Distributions Cars passing school gate during the day
Distribution of employment injuries by occupation SECTOR GRAPHS Distribution of employment injuries by occupation
Proportion of households by size COLUMN AND BAR GRAPHS Proportion of households by size
A student’s height with age LINE GRAPHS A student’s height with age
BUSINESS MATHEMATICS & STATISTICS