Essential Statistics (a.k.a: The statistical bare minimum I should take along from STAT 101)

Slides:



Advertisements
Similar presentations
11-1 Empirical Models Many problems in engineering and science involve exploring the relationships between two or more variables. Regression analysis.
Advertisements

Lesson 10: Linear Regression and Correlation
Chap 12-1 Statistics for Business and Economics, 6e © 2007 Pearson Education, Inc. Chapter 12 Simple Regression Statistics for Business and Economics 6.
Forecasting Using the Simple Linear Regression Model and Correlation
6-1 Introduction To Empirical Models 6-1 Introduction To Empirical Models.
11 Simple Linear Regression and Correlation CHAPTER OUTLINE
IB Math Studies – Topic 6 Statistics.
LECTURE 3 Introduction to Linear Regression and Correlation Analysis
© 2010 Pearson Prentice Hall. All rights reserved Least Squares Regression Models.
Chapter 12 Simple Regression
Chapter 13 Introduction to Linear Regression and Correlation Analysis
The Simple Regression Model
Fall 2006 – Fundamentals of Business Statistics 1 Chapter 13 Introduction to Linear Regression and Correlation Analysis.
SIMPLE LINEAR REGRESSION
Chapter Topics Types of Regression Models
Linear Regression and Correlation Analysis
Chapter 11 Multiple Regression.
Chapter 13 Introduction to Linear Regression and Correlation Analysis
SIMPLE LINEAR REGRESSION
© 2000 Prentice-Hall, Inc. Chap Forecasting Using the Simple Linear Regression Model and Correlation.
11-1 Empirical Models Many problems in engineering and science involve exploring the relationships between two or more variables. Regression analysis.
Chap 3-1 Statistics for Business and Economics, 6e © 2007 Pearson Education, Inc. Chapter 3 Describing Data: Numerical Statistics for Business and Economics.
Chapter 14 Introduction to Linear Regression and Correlation Analysis
Chapter 7 Forecasting with Simple Regression
Chapter 12 Section 1 Inference for Linear Regression.
Simple Linear Regression Analysis
Statistics for the Social Sciences Psychology 340 Fall 2013 Thursday, November 21 Review for Exam #4.
Introduction to Linear Regression and Correlation Analysis
Statistics for Managers Using Microsoft Excel, 4e © 2004 Prentice-Hall, Inc. Chap 12-1 Chapter 12 Simple Linear Regression Statistics for Managers Using.
© 2005 The McGraw-Hill Companies, Inc., All Rights Reserved. Chapter 12 Describing Data.
Correlation and Regression
Is there a relationship between the lengths of body parts ?
(a.k.a: The statistical bare minimum I should take along from STAT 101)
OPIM 303-Lecture #8 Jose M. Cruz Assistant Professor.
© 2003 Prentice-Hall, Inc.Chap 13-1 Basic Business Statistics (9 th Edition) Chapter 13 Simple Linear Regression.
● Final exam Wednesday, 6/10, 11:30-2:30. ● Bring your own blue books ● Closed book. Calculators and 2-page cheat sheet allowed. No cell phone/computer.
Introduction to Linear Regression
Chap 12-1 A Course In Business Statistics, 4th © 2006 Prentice-Hall, Inc. A Course In Business Statistics 4 th Edition Chapter 12 Introduction to Linear.
Multiple Regression and Model Building Chapter 15 Copyright © 2014 by The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin.
Basic Concepts of Correlation. Definition A correlation exists between two variables when the values of one are somehow associated with the values of.
1 11 Simple Linear Regression and Correlation 11-1 Empirical Models 11-2 Simple Linear Regression 11-3 Properties of the Least Squares Estimators 11-4.
© Copyright McGraw-Hill Correlation and Regression CHAPTER 10.
Review Lecture 51 Tue, Dec 13, Chapter 1 Sections 1.1 – 1.4. Sections 1.1 – 1.4. Be familiar with the language and principles of hypothesis testing.
Copyright © 2005 Pearson Education, Inc. Slide 6-1.
Advanced Statistical Methods: Continuous Variables REVIEW Dr. Irina Tomescu-Dubrow.
Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Simple Linear Regression Analysis Chapter 13.
Copyright (C) 2002 Houghton Mifflin Company. All rights reserved. 1 Understandable Statistics Seventh Edition By Brase and Brase Prepared by: Lynn Smith.
Video Conference 1 AS 2013/2012 Chapters 10 – Correlation and Regression 15 December am – 11 am Puan Hasmawati Binti Hassan
Howard Community College
Chapter 13 Simple Linear Regression
Chapter 14 Introduction to Multiple Regression
Regression and Correlation
Confidence Intervals Topics: Essentials Inferential Statistics
Is there a relationship between the lengths of body parts?
Inference for Regression (Chapter 14) A.P. Stats Review Topic #3
Correlation, Bivariate Regression, and Multiple Regression
Statistics for Managers using Microsoft Excel 3rd Edition
Inference for Regression
Chapter 5 STATISTICS (PART 4).
Chapter 11 Simple Regression
Correlation and Regression
Confidence Intervals Topics: Essentials Inferential Statistics
PENGOLAHAN DAN PENYAJIAN
BUS173: Applied Statistics
When You See (This), You Think (That)
SIMPLE LINEAR REGRESSION
Introductory Statistics
Presentation transcript:

Essential Statistics (a.k.a: The statistical bare minimum I should take along from STAT 101)

Essentials: The Nature of Statistics (a. k Essentials: The Nature of Statistics (a.k.a: The bare minimum I should take along from this topic.) Definitions and relationships as presented on the sheet Anatomy of the Basics: Statistical Terms and Relationships Identification of variables and their characteristics Careful review of data and their presentation Providing a context for the data Why percentages and not numeric counts when making comparisons

Essentials: Sampling (stuff I should know) General types of data collection Importance of randomization in obtaining samples Sampling Error Difference between non-probability sampling and probability sampling Different types of random samples and how each is obtained Ability to obtain samples using probability sampling approaches

Essentials: Permutations & Combinations (So that’s how we determine the number of possible samples!) Definitions: Permutation; Factorial; Combination. What a Factorial is and how to use it. Ability to determine the number of permutations or combinations resulting from a stated situation. Extras here: Tree diagrams & the multiplication rule.

Essentials: Qualitative Data (Be able to address the following.) Characteristics of qualitative variables. Building a qualitative frequency table. Appropriate charts/graphs for qualitative data (and how to make them).

Essentials: Quantitative Data (Know this stuff - a useful filler term in stats.) Characteristics of quantitative variables. Building a quantitative frequency table. From within a quantitative frequency table, be able to identify: classes, class widths, class midpoints, class limits, boundaries (cutpoints) Identify and construct appropriate charts/graphs for quantitative data.

Essentials: Sigma - S (Yeah, I got this – so everyone thinks, but it isn’t as easy as it looks.) Understand what Sigma (S) means and how it is used. Be able to interpret what S is telling you to do in a given formula. When you think you’ve got it, practice some more.

Essentials: Measures of Center (The great mean vs. median conundrum.) Be able to identify the characteristics of the median, mean and mode, and to which types of data each applies. Be able to calculate the median, mean and mode, as appropriate, for a set of data. Affected by vs. resistant to extreme values. What are the implications for the mean and median?.

Essentials: Distribution Shapes (Lots of them , but we will focus on three main types.) Be able to explain what constitutes a distribution. Be able to identify Left, Right and Normal distributions (and a Uniform distribution). Be able to determine if a distribution is normally distributed or skewed through use of a formula or computer software and, be able to interpret the results of this process.

Essentials: Measures of Variation (Variation – a must for statistical analysis.) Know the types of measures used to look at variation and the type data to which they apply. Be able to calculate the range, standard deviation and inter-quartile range. Be able to determine the distance away from the mean a given value lies in terms of standard deviations (think z-score). Be able to apply the Empirical Rule and Chebychev’s Theorem to specific situations.

Essentials: Measures of Position (Better understanding distribution shapes.) Know the types of measures used to look at specific positions within a data distribution. Be able to calculate the inter-quartile range, three quartiles, Pearson’s Index of Skewness, z-score, Coefficient of Variation. Be familiar with symmetry vs. skewness and distribution shapes. Be able to build both traditional and modified box plots (aka: box-and- whiskers plot).

Essentials: Correlation (The invalid assumption that correlation implies cause is probably among the two or three most serious and common errors of human reasoning. --Stephen Jay Gould, The Mismeasure of Man.) Correlation – potential relationships, not causality. Know the steps one might employ before obtaining a correlation. Know the characteristics of the Pearson Product Moment Correlation Coefficient (for us the correlation). Be able to calculate a correlation and determine if it is statistically significant. Be able to create a scatter plot of the paired data being studied. Be able to determine the directionality of a correlation and its strength via formula and observation of plotted data.

Essentials: Regression (Predictions based upon the known.) Understand what the regression process does - prediction. Be able to state the steps we use leading up to the decision to conduct regression. Be able to calculate the slope of a line and the y-intercept. Be able to calculate a regression equation and apply it to the prediction of other values. Know that these are estimates, not necessarily the actual values that might occur. Know what the Least Squares Property and Line of Best Fit. Residual – what’s that?

Essentials: Normal Distribution (I’m normal...or am I?) Be able to identify normal and approximately normal distributions. Know the characteristics of the Standard Normal. Be able to use the Standard Normal table. Empirical Rule and the Standard Normal. Transforming Non-Standard distributions to the Standard Normal.

Essentials: Distribution of Sample Means (A distribution unlike others) Be able to explain what the Distribution of Sample Means represents. Know the three characteristics of this distribution. Be able to use a set of data demonstrate the calculation of the mean and standard deviation of this distribution. What is a statistically large sample?

Essentials: Confidence Intervals (How sure we are.) Inferential statistics, precision and the margin of error. Obtaining a confidence interval. Za/2 Guinness, Gosset & the Student’s t Distribution Confidence Intervals for large and small samples, and proportions.

Essentials: Hypothesis Testing (Testing Claims.) What is a hypothesis. Null vs. Alternative hypotheses Statistical Significance: Critical Values & p-values One-sample Tests for mean & proportions