1. Statistical Analysis for Business & Economics: Summer 2010 Statistical Analysis for Business & Economics: Spring 2011 STATISTICAL ANALYSIS FOR BUS & ECON Chapter 2: Tables and Graphs E370 Spring 2016

2. Statistical Analysis for Business & Economics: Summer 2010 Statistical Analysis for Business & Economics: Spring 2011 Objectives Be able to distinguish different kinds and types of data Be able to choose the best graphical presentations for different kinds of data Be able to use Excel to draw them 2 Statistical Analysis for Business & Economics: Spring 2016

3. Statistical Analysis for Business & Economics: Summer 2010 Statistical Analysis for Business & Economics: Spring 2011 Information contained in data is valuable A survey asks students to identify which laptop brand they have purchased. The responses are 1. HP 2. Toshiba 3. Apple 4. Dell 5. Other 3 Statistical Analysis for Business & Economics: Spring 2016 Response 3 3 4 3 5 4 3 4 5 3 3 4 5 2 5 4 2 3 4 4 3 3 3 4 2 Visualize it!

4. Statistical Analysis for Business & Economics: Summer 2010 Statistical Analysis for Business & Economics: Spring 2011 DataData TypesAppropriate Graphs Numerical Discrete (e.g. number of kids) Continuous (e.g. Length of a song) Histogram (no gaps between columns) Frequency Polygon Ogive (cumulative frequencies) Categorical Nominal (e.g. eyes color: blue/black/brown) Ordinal (e.g. Restaurant rankings: very good/good/fine/bad) Pie Chart Column/Bar chart Pareto Diagram (has the order) Theory Statistical Analysis for Business & Economics: Spring 2016

5. Statistical Analysis for Business & Economics: Summer 2010 Statistical Analysis for Business & Economics: Spring 2011 Graphical Techniques for Numerical Data Statistical Analysis for Business & Economics: Spring 2016 Decide the number of classes. Decide the class intervals and set class limits Enter the bin range (right open intervals) Close the column gaps.

6. Statistical Analysis for Business & Economics: Summer 2010 Statistical Analysis for Business & Economics: Spring 2011 Graphical Techniques for Numerical Data Statistical Analysis for Business & Economics: Spring 2016 A line version of the histogram Plotted using class midpoints Best way to represent several variables on the same axes. The look of the data is easily influenced by the classes selected. That is, it shares the same problems as histogram

7. Statistical Analysis for Business & Economics: Summer 2010 Statistical Analysis for Business & Economics: Spring 2011 Graphical Techniques for Numerical Data Statistical Analysis for Business & Economics: Spring 2016 A line version of cumulative frequencies Plotted using upper class limits and frequencies Non-decreasing graph, always begins at (0,0)

8. Statistical Analysis for Business & Economics: Summer 2010 Statistical Analysis for Business & Economics: Spring 2011 Graphical Techniques for Categorical Data 8 Statistical Analysis for Business & Economics: Spring 2016 Good for relative comparisons among categories. If there is a large number of categories or frequencies are small, it may not be informative.

9. Statistical Analysis for Business & Economics: Summer 2010 Statistical Analysis for Business & Economics: Spring 2011 Graphical Techniques for Categorical Data 9 Statistical Analysis for Business & Economics: Spring 2016 Bar chart is also used for relative comparisons among categories. It is useful when there is a large number of categories or frequencies are small.

10. Statistical Analysis for Business & Economics: Summer 2010 Statistical Analysis for Business & Economics: Spring 2011 Graphical Techniques for Categorical Data 10 Statistical Analysis for Business & Economics: Spring 2016 Only useful on non-numerical data. If there are lots of categories, it rapidly pinpoints the important groups. Designed to separate the important few from the trivial many

11. Statistical Analysis for Business & Economics: Summer 2010 Statistical Analysis for Business & Economics: Spring 2011 If you are doing a presentation to Apple Statistical Analysis for Business & Economics: Spring 2016 What graph to include? What information to highlight?