Representation and Summary of data
[10/09/12]
Histograms
* To be able to draw and interpret histograms.
* Continuous Data:-
* Measured [Rounded off to a particular degree of accuracy] * Time
* Length
* Speed – Velocity
* Mass – Acceleration
* Volume
* Density
* Area
* Most suitable for a histogram.
The area of a histogram is proportional to its frequency.
Area ∞ Frequency Class Width = UCB – LCB Height of each rectangle is called the frequency density: Frequency Density = FrequencyClass Width Stem and Leaf diagrams (S+L) [20/09/12] Stem and Leaf

* Key is essential!
* Display discrete data
* Continuous is ok but round it off to either nearest whole number or 1/2 d.p) * Can be plotted into a box plot
* Can find
* Median (Q₂)
* Range
* Quartiles (Q₁, Q₂, Q₃)
* Inter-quartile Range
* Excludes outliers
* Middle 50% of data
* Percentiles
* Outliers (Extreme values)
* Ordered data
Cumulative Frequency Diagrams [27/09/12] Aims - To complete cumulative frequency curve and step diagrams. - Quartiles using calculation

Cumulative frequency diagrams:
* Data used is usually continuous.
* Sigmoid Curve (N.B. – Capital Sigma = Σ, Lower-case Sigma = ς) * Estimate - Q₁, Q₂, Q₃, P25%, P95%
* Plot points at highest boundary of each class.
* Cumulative Frequency taken from 0≤x≤"n"
* Used for medians, means, inter-quartile range and percentiles. * Grouped data.

* Step cumulative frequency.
* Recognise this graph!
* Allows you to see main differences between the points plotted * Step cumulative frequency.
* Recognise this graph!
* Allows you to see main...

...S1Notes
Monday 16 th January 2012 Mr Aroui
Statistical experiment: A test adopted for collecting data to provide evidence for or against a hypothesis.
Event: A sub-set of possible outcomes of an experiment.
Sample space: A list of all possible outcomes of an experiment.
Discrete data: Discrete data can only take certain values in any given range. Number of cars in a household is an example of discrete data. The values do not have to be whole numbers (e.g. shoe size is discrete).
Continuous Data: Continuous data can take any value in a given range. So a person’s height is continuous since it could be any value within set limits.
Histograms: The key feature of a histogram is that the area of each block is proportional to the frequency.
In order for the area to be equal (or proportional) to the frequency we plot frequency density on the vertical axis, where .
The class width is the width of the interval (i.e. it runs from the lower boundary to the upper boundary).
When question says “give a reason to justify the use of a histogram to represent these data” The answer is “Data is continuous”.
Box-Whisker Diagrams:
Main features & uses of Box Plots:
Indicates max / median / min / upper quartile/ lower quartile.
Indicates outliers.
Illustrates skewness
Allows comparisons
Indicates range / Interquartile range / spread
Mathematical Modelling in Statistics: A mathematical model is a...

...Sample Case Analysis (Case 10.1)
First read the case carefully. In this instance Cregg Hart is interested in knowing if the
rivet diameter from a potential new supplier is the same as the diameter from their existing
supplier. This lends itself naturally to do a confidence interval or suitable confidence level,
say 95% or do a hypothesis test assuming the mean diameters from the two suppliers are
the same.
Next open the Excel file which you can download from CANVAS Excel files and into your
computer completely free of charge and run with it.
What should result from assignment is as follows:
Please Note: students in face-to-face classes should turn in a hard copy with a staple on eth
top left corner. Students in the online sections should email their cases to their online TA.
Name: Jennifer Johnson
Zhao Jin
OIS – 3440 Applications of Business Statistics
Section “00”
Instructor: Professor Tariq Mughal
Case 10.1 Motive Power Company – part 1
Executive Summary
In case 10 .1 Motive Power Company Part 1, manufacturing manager Cregg Hart is approached
by another supplier for rivets. Motive Power is very keen on their quality and are interested in
evaluating the new rivets by comparing them to their existing supplier’s rivets. Specifically this
is done by comparing the diameters of the two groups of rivets.
After collecting data a 95% confidence interval was computed and a statistical test was
performed to determine if the average...

...each other’s magnificence (or darkness at times), but clarity should’ve been present throughout the book to add to its effectiveness. If he distinguished the generations more without intertwining them, the characters would form their own individuality without morphing into each other.
4)
Q: With which character in One Hundred Years of Solitude do you most identify? Why? Is there any character in the novel who is wholly admirable, anyone who is wholly evil?
A: I don’t identify with any of the characters in 100 Years Of Solitude. They’re all extremists and unstable in their own ways, which separates us on a mental and emotional level. I think their transparent innocence, especially in the beginning of the book, is almost impossible to feel in today’s society. On another note, Melquaides proves himself to be the most admirable character. His passionate desire for knowledge, ability to introduce ideas to people, and his honesty in doing so is rare. Not only does he bestow people with the gift of knowledge that comes from outside their isolated town, but he also offers them a chance to exchange items that don’t work for new ones. He generally introduces far-fetched ideas to primitive people without conning them like most gypsies are known to do. He was a Ghandi type character who inspired people to go against what they know to be right. He showed them there’s another way and the world offers more opportunities then they are given....

...Chapter 7 Summarizing and Displaying Measurement Data
Lecture Summary
GOALS FOR CHAPTER 7
1. To illustrate that summarizing important features of a list of numbers provides more information than looking at an unordered list.
2. To explain the concept of the shape of a set of numbers and the vocabulary used to describe shapes, and why it is useful to know something about the shape.
3. To learn the details of how to construct stem-and-leaf plot, histograms and boxplots and how to compute various numerical measures.
4. To discuss what kinds of summaries are best for various kinds of measurements.
Section 7.1 Turning Data into Information
Four kinds of useful information about a set of data: center, variability, shape and outlier
Types of center: mean, median and mode (and their definitions)
Types of variability: range, standard deviation and IQR (and their definitions)
Types of shape: symmetric, skew to the left, skew to the right, unimodal and bimodal (and their definitions)
Definition of outlier (unusual values):
Section 7.2 Picturing Data
Stem-and-leaf plot and how to make a stem-and-leaf plot
Step 1: Create stems
Step 2: Attach leaves
Step 3: Order the leaves
Histogram
Step 1: Divide range of data into intervals.
Step 2: Count how many values fall into each interval. (Create a frequency table)
Step 3: Draw bar over each interval with height = count (or proportion).
Section 7.3 Five Useful Numbers: A Summary
The five number...

...
Chapter 1
The U.S. Business Environment
Questions for Review:
1-4. Why is inflation both good and bad? How does the government try to control it?
Inflation occurs when an economic system experiences widespread price increases. Too much inflation is a bad thing because it means the dollar doesn’t have the same purchasing power it did. Costs of goods rise with inflation, but too much inflation too quickly prevents people from keeping up with the changes in cost. For those who don’t receive income increases quickly enough, inflation reduces the value of the goods those people can buy. For the currently employed, this means they need a salary raise just to keep up with inflation rates for meeting even fixed payments like rent or mortgages. For those on a fixed income, it means having to go without. Slow inflation is a sign of economic growth. When prices are going up, more money is being made, which means more companies need more workers. Reducing the unemployment rate is a sign of a healthy national economy. Slow or moderate inflation is also a good thing because it helps prevent deflation. When prices go down, wages fall, which means that though things might be cheaper, people make less money.
The government tries to control inflation by raising and lowering the interest rates of the nation’s central bank. This had the effect of raising or lowering the relative value of the national currency. It also affected the money available for investment and the running costs of...

...1. Teachers need to use their professional skills, attributes and judgment every day – note at least 5 examples of unconventional methods of teaching that Ron Clark uses.
• using the same method as how the students treat him: making students understand how bad it feels to be treated in that way
• sacrificing himself (drinking milk): makes fun of himself (singing): give the students an impression that teachers can be informal
• treat himself like one of the students (playing with the kids): break the barrier between them
• learn the difficulties of the students lives and help them solve their problem:
• treat the students like his own kid: make them feel loved and cared
2. Give examples of 5 challenges that Ron Clark has to overcome. How does he work with his students to overcome these challenges?
• cultural difference with people from different background (black and white);
• reluctant parents (they don't want him to be involved in family business;
• strict headmaster and his discouragement (headmaster doesn't think he will succeed);
• rebellious students;
• he's new to the city and therefore does not understand the culture;
• Students supporting him by opposing their parents' wills; students also open up to him and let him understand their life difficulties; he keeps encouraging the students and let the students know of their worth and potential
3. State at least 2 examples of support that Ron Clark had in order to overcome the...

...The humanistic subject
Rhetoric as techne-ways of seeing
Todays goals: understand these concepts
Meta- communication in context of class readings
The humanistic subject (in Michael franti’s words, what it means to be a human bein ya’ll)
Rhetoric as techne
Different way of seeing or of pating attention
How this class fits into your education
Meta0communication in context of class readings
D.I.E
Distinguishing between observing and concluding
Using textual evidence to get us on the same page, metaphorically and literally
Ask the most basic rhetorical Qs texts
Who is or are the authors?
What seems to be the purpose?
What audicence or audiences does the author seem to be addressing?
What methods of techniques are use (language use, imagery, sentence structure form of addressing, register, etc)?
The humanistic subject
Rhetoric as a part of humanistic
Liberal arts education
Today’s readings atwill
Why a liberal arts degree- to pass on culture to the un social elite
Talked about common sense-
Discourse community
Dear abby is the name of the advice colum founded in 1956 by paulien Phillips under the pen name abigal wan buren
Common interest communicate thru approved channels forums, reulated disscourse
Scary movies- intertexuality knowing when someone runs up the stairs they are going to get killed
Interability- when a movie refers to another movie, just an example
Review of intertextuality
Iterabilty
Presupposition
Discourse...

...a) Explain and distinguish between the terms: Financial gearing
Optimal capital structure
Financial gearing:
Financial gearing is a percentage of debt capital in the company’s capital structure. If company has high gearing that means a company borrow a lot debt capital. (Main text book).
Optimal capital structure:
The optimal capital structure for a company is one which offers a balance between the ideal debt-to-equity range and minimizes the firm's cost of capital.
b) Explain why the cost of equity capital (ordinary shares) is normally higher than the cost of debt capital. (slides)
Ordinary shares carry higher risk than debt capital, hence will require higher return to persuade investors to invest. Higher issuing cost of equity relative to the cost of issuing debt capital. Dividend on ordinary shares are not allowable against corporate tax while interest payments are.
c) What is meant by the term ‘dividend pay-out ratio’? How is this ratio related to ‘retention ratio’?
Dividend pay-out ratio:
The percentage of earnings paid to shareholders in dividends.
Retention ratio:
The proportion of net income that is not paid out as dividends.
d) Distinguish between the ‘Signalling Effect and the Clientele-Effect’ of dividend of dividend policy.
Signaling Effect:
A theory that suggests company announcements of an increase in dividend payouts act as an indicator of the firm possessing strong future prospects. It comes from game theory. A manager who...