1. ISTANBUL STOCK EXCHANGE (BIST) FELL 6 POINTS IN AVERAGE TODAY
THE LATEST SURVEY INDICATES THAT THE PRESIDENT`S APPROVAL RATING
NOW STANDS AT 60 PERCENT
THE UNITED STATES DOLLAR (USD) APPRECIATED BY 4 PERCENT LAST WEEK AGAINST TURKISH LIRA (TRL). AT THE 95% CONFIDENCE LEVEL, IT IS ESTIMATED THAT THE EXCHANGE RATE WILL BE BETWEEN _____ AND ____.

2. THE PRICE OF KOC HOLDING STOCK WILL BE HIGHER IN SIX MONTH
THAN IT IS NOW
THE PRICE OF KOC HOLDING STOCK IS LIKELY TO BE HIGHER IN SIX MONTH
THAN IT IS NOW

3. THE STAGES FOR STATISTICAL THINKING ARE:
1- DEFINE THE PROBLEM
2- DETERMINE WHAT DATA IS NEEDED
3- SELECT A SAMPLE
4- COLLECT DATA
5- SUMMARIZE AND ANALYZE DATA
6- MAKE INFERENCES AND DECISIONS BASED ON INFORMATION

4. The Journey to Making Decisions
Begin Here:
Identify the Problem
DATA
DATA
Descriptive Statistics,
Probability, Computers
INFORMATION
Experience, Theory, Literature
Inferential Statistics, Computers
KNOWLEDGE
DECISION
MAKING

5. DATA:
Specific observations of measured numbers.
INFORMATION:
Processed and summarized data
yielding facts and ideas.
KNOWLEDGE:
Selected and organized information that provides
understanding, recommendations, and
the basis for decisions.

6. Descriptive Statistics include graphical and numerical
procedures that summarize and process data and are used
to transform data into information
Descriptive Statistics include graphical and numerical
procedures that summarize and process data and are used
to transform data into information
Descriptive Statistics include graphical and numerical
procedures that summarize and process data and are used
to transform data into information
Descriptive Statistics include graphical and numerical
procedures that summarize and process data and are used
to transform data into information
Inferential Statistics provide the bases for predictions, forecasts,
and estimates that are to transform information to knowledge

7. Examples of Populations - Names of all registered voters in TURKEY
A complete set of individuals, objects or
measurements having common observable characteristics.
Examples of Populations
- Names of all registered voters in TURKEY
- Incomes of all families living in ANKARA
- Annual return of all stocks traded on the ISTANBUL STOCK EXCHANGE
- Grade Point Averages of all the students in your University - BILKENT

8. SAMPLE: A subset or part of a population
Examples of Samples
- Names of registered voters in TURKEY
- Incomes of families living in ANKARA
- Annual return of 150 stocks traded on the ISTANBUL STOCK EXCHANGE
- Grade Point Averages of 500 students from different departments
in your University - BILKENT

9. Example:
Imagine that a public opinion polling firm has been contracted to conduct a study concerning the percentage of the state`s registered voters who approve of nuclear power as an energy source. As part of the polling process, 750 individuals are randomly selected from the voter registration list and carefully interviewed.
Elements?
Random Sample ?
Variable of Interest?
Data?
Statistic?
Population?

11. Frequency Distribution
Example: Marada Inn
Above Average
Below Average
Poor
Average
Below Average
Above Average
Average
Average
Above Average
Below Average
Poor
Excellent

12. Note: Data is in ascending order.
525
530
535
540
545
550
560
565
570
572
575
580
585
590
600
610
615
625
635
649
650
670
675
680
690
700
715
Note: Data is in ascending order.

13. Measures of Location Mean Weighted Mean Median Mode Percentiles
Quartiles

14. Sample Mean Sum of the values of the n observations Number of
in the sample

15. Population Mean m Sum of the values of the N observations Number of
observations in
the population

16. Weighted Mean where: xi = value of observation i
If data is from
a population,
m replaces x.
Numerator:
sum of the weighted
data values
Denominator:
sum of the
weights
where:
xi = value of observation i
wi = weight for observation i

17. A wholesaler sold 575, 410 and 520 microwave ovens at prices (in USD) 75, 125 and 100 respectively. What is the mean price of the ovens sold?

18. Example:
The following data represent the duration (in days) of Space Shuttle voyages for the years (18 values)
8,9,9,14,8,8,10,7,6,9,7,8,10,14,11,8,14,11
Q: Find The Mode

19. MONTHLY STARTING SALARY (In TRL)
Graduate
Monthly Starting Salary 1
2,850 2
2,950 3
3,050 4
2,880 5
2,755 6
2,710 7
2,890 8
3,130 9
2,940 10
3,325 11
2,920 12
TOTAL: ,280