Applied Statistics for Business and Economics by Robert M. Leekley

By Robert M. Leekley

Whereas there are lots of texts out there with an analogous aim, this article takes a realistic and potent method of enticing scholars with a subject matter that, because the writer notes, they're probably no longer that drawn to studying. The textual content accomplishes this aim rather good. ... it's written in a really trouble-free and comprehensible demeanour that matches its meant viewers rather good. ... provided that there are Read more...

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Encourages improvement of program and selection making abilities to be used in coping with uncooked info and real-world initiatives. This booklet comprises such subject matters as scattergrams and time sequence graphs, simple Read more...

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00% *Each range includes its upper bound. 20 Presentation quality frequency distribution of weights. So far so good. But probably we are interested in more than just describing the distribution of weights. Probably we are interested in explaining it. Why do some people weigh more than others? Indeed, I included the other variables in the data set—Female, Age, and Height—because they might help. Other things equal, we would probably expect females to weigh less than males. indb 29 2/20/10 3:51:01 PM 30 Applied Statistics for Business and Economics Sample weight distributions 30 Percentage of total 25 20 15 10 5 0 80 100 120 140 160 180 200 Weight (in pounds) 220 240 260 Each range includes its upper bound.

2 Looking for Relationships As suggested in Chapter 1, very often we are interested in explaining, or accounting for, the variation in something. Suppose you think some other variable might be related and help explain your variable of interest. You might relate the two variables in a table or graph and inspect them visually. However, the most effective approach depends on the sort of explanatory variables you are considering. 1 Frequency Distributions If your explanatory variable is categorical, with just a few categories, it can be very useful to create separate frequency distributions for each category.

Other things equal, we would probably expect females to weigh less than males. indb 29 2/20/10 3:51:01 PM 30 Applied Statistics for Business and Economics Sample weight distributions 30 Percentage of total 25 20 15 10 5 0 80 100 120 140 160 180 200 Weight (in pounds) 220 240 260 Each range includes its upper bound. 21 Histogram of weights. i­ ndividuals to weigh more than shorter ones. And, other things equal, individuals probably gain weight as they age. Now a warning is in order on the limitations of descriptive statistics.

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