©2013 Cengage Learning. All Rights Reserved. Business Management, 13e Data Analysis and Decision Making 14.1 14.1Mathematics and Management 14.2 14.2Basic.

Slides:

Advertisements

Similar presentations

Richard M. Jacobs, OSA, Ph.D.

Advertisements

Brought to you by Tutorial Support Services The Math Center.

ECONOMICS 521 ECONOMIC STATISTICS. Jerry S. Kelly 312 Maxwell Hall (Not Eggers)

Chapter 7 basic math skills Section 7.1 Math Fundamentals Section 7.2

Learning Outcomes MAT 060. The student should be able to model and solve application problems while learning to: 1. Add, subtract, multiply, and divide.

QUANTITATIVE DATA ANALYSIS

Statistics: An Introduction Alan Monroe: Chapter 6.

Chapter 13 Analyzing Quantitative data. LEVELS OF MEASUREMENT Nominal Measurement Ordinal Measurement Interval Measurement Ratio Measurement.

Chapter 14 Analyzing Quantitative Data. LEVELS OF MEASUREMENT Nominal Measurement Nominal Measurement Ordinal Measurement Ordinal Measurement Interval.

Central Tendency 2011, 9, 27. Today’s Topics  What is central tendency?  Three central tendency measures –Mode –Median ＊ –Mean ＊

QM Spring 2002 Statistics for Decision Making Descriptive Statistics.

CHAPTER 2 Basic Descriptive Statistics: Percentages, Ratios and rates, Tables, Charts and Graphs.

Engineering Probability and Statistics - SE-205 -Chap 1 By S. O. Duffuaa.

Statistics - Descriptive statistics 2013/09/23. Data and statistics Statistics is the art of collecting, analyzing, presenting, and interpreting data.

CCSS Mathematic Unit of Study Grade 6.  Judy Burnett  Valerie Carey  Melinda Cheresnowsky  Veronica Mojica.

Chapter 24 Real Estate Mathematics

©2013 Cengage Learning. All Rights Reserved. Business Management, 13e Data Analysis and Decision Making Mathematics and Management Basic.

PPA 501 – A NALYTICAL M ETHODS IN A DMINISTRATION Lecture 3b – Fundamentals of Quantitative Research.

Basic Definitions  Statistics Collect Organize Analyze Summarize Interpret  Information - Data Draw conclusions.

MSE 600 Descriptive Statistics Chapter 10 in 6 th Edition (may be another chapter in 7 th edition)

Statistics 3502/6304 Prof. Eric A. Suess Chapter 3.

Multiply with decimals

Smith/Davis (c) 2005 Prentice Hall Chapter Four Basic Statistical Concepts, Frequency Tables, Graphs, Frequency Distributions, and Measures of Central.

Longfield Primary School Year 6 SAT Evening Maths November

Describing Behavior Chapter 4. Data Analysis Two basic types  Descriptive Summarizes and describes the nature and properties of the data  Inferential.

Introduction to Statistics Mr. Joseph Najuch Introduction to statistical concepts including descriptive statistics, basic probability rules, conditional.

Chapter 21 Basic Statistics.

Descriptive Statistics Prepared by: Asma Qassim Al-jawarneh Ati Sardarinejad Reem Suliman Dr. Dr. Balakrishnan Muniandy PTPM-USM.

Determination of Sample Size: A Review of Statistical Theory

Statistics: Mean, Median, Mode and Range Year 8 Advanced Maths class Statistics Lesson 2.

Math Sunshine State Standards Wall poster. MAA Associates verbal names, written word names, and standard numerals with integers, rational numbers,

DATA MANAGEMENT MBF3C Lesson #4: Measures of Central Tendency.

© 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.

MATH104 Chapter 12 Statistics 12.1 Intro Sampling, Frequency Distributions, and Graphs Terms: · Descriptive statistics · Inferential statistics.

2 Kinds of Statistics: 1.Descriptive: listing and summarizing data in a practical and efficient way 2.Inferential: methods used to determine whether data.

Chapter Eight: Using Statistics to Answer Questions.

The field of statistics deals with the collection,

9.1 – Visual Displays of Data Objective – TSW construct visual displays of data. Chapter 1.

1 UNIT 13: DATA ANALYSIS. 2 A. Editing, Coding and Computer Entry Editing in field i.e after completion of each interview/questionnaire. Editing again.

Statistics with TI-Nspire™ Technology Module E Lesson 1: Elementary concepts.

Section 7.1 Math Fundamentals Chapter 7 basic math skills Section 7.2 Interpreting Numbers.

Chapter II Methods for Describing Sets of Data Exercises.

Engineering Probability and Statistics - SE-205 -Chap 1 By S. O. Duffuaa.

Conversions % Multiply by a special form of 1 Divide 2 by 5

THE ROLE OF STATISTICS IN RESEARCH. Reading APPENDIX A: Statistics pp

4-6 Solving Equations with Fractions What You’ll Learn ► To solve one – step equations ► To solve two – equations.

Statistics and probability Dr. Khaled Ismael Almghari Phone No:

AP PSYCHOLOGY: UNIT I Introductory Psychology: Statistical Analysis The use of mathematics to organize, summarize and interpret numerical data.

Statistics and Probability Shelby Ferreira. Descriptive Statistics Data: Values in a set Discrete data: clear cut scores Ex: (1, 2, 3) Interval data:

An Introduction to Statistics

Engineering Probability and Statistics - SE-205 -Chap 1

Statistics Use of mathematics to ORGANIZE, SUMMARIZE and INTERPRET numerical data. Needed to help psychologists draw conclusions.

Statistics in Management

Module 6: Descriptive Statistics

Information used to create graphs and find statistics

Statistics: the language of psychological research

Chapter 12 Using Descriptive Analysis, Performing

Math 8C Unit 6 – Statistics & Probability

Statistical Evaluation

Introduction to Statistics

Methods Chapter Format Sources of Data Measurements

1.3 Data Recording, Analysis and Presentation

Lesson How do you add and subtract fractions?

Psychology Statistics

Descriptive vs. Inferential

Fractions, Decimals & Percentages

Myers Chapter 1 (F): Statistics in Psychological Research: Measures of Central Tendency A.P. Psychology.

Chapter Nine: Using Statistics to Answer Questions

Descriptive Statistics

Grade 12 Essential Math Measurement and Statistics

Presentation transcript:

©2013 Cengage Learning. All Rights Reserved. Business Management, 13e Data Analysis and Decision Making Mathematics and Management Basic Math and Measurement Systems Understanding and Using Basic Statistics Using Data in Decision Making CHAPTER 14

©2013 Cengage Learning. All Rights Reserved. Business Management, 13e 14.1 Mathematics and Management DLTs ● Describe ways that mathematics is used by managers to improve decision making. ● Identify several common and specialized mathematical applications used by business managers. 2 CHAPTER 14

©2013 Cengage Learning. All Rights Reserved. Business Management, 13e Mathematics Skills for Managers ● Math for decision making ● Communicating findings 3 CHAPTER 14

©2013 Cengage Learning. All Rights Reserved. Business Management, 13e Business Applications of Mathematics ● Developing Math Skills ● Math Applications in Business ● Accounting and Finance ● Production and Operations ● Marketing ● Human Resources 4 CHAPTER 14

©2013 Cengage Learning. All Rights Reserved. Business Management, 13e ©2013 Cengage Learning. All Rights Reserved. Common Business Activities that Require Math Skills

©2013 Cengage Learning. All Rights Reserved. Business Management, 13e Basic Math and Measurement Systems DLTs ● Demonstrate understanding of basic mathematical operations. ● Recognize common units of U.S. and metric measurement. 6 CHAPTER 14

©2013 Cengage Learning. All Rights Reserved. Business Management, 13e Basic Mathematic Operations ● Adding and subtracting ● Multiplying and dividing ● Fractions, ratios, decimals, and percentages 7 CHAPTER 14

©2013 Cengage Learning. All Rights Reserved. Business Management, 13e Measurement Systems in Business ● Traditional U.S. measures ● Metric measures 8 CHAPTER 14

©2013 Cengage Learning. All Rights Reserved. Business Management, 13e Understanding and Using Basic Statistics DLTs ● Explain why statistics is important to managers and identify two types of statistics. ● Recognize important types of statistical information. 9 CHAPTER 14

©2013 Cengage Learning. All Rights Reserved. Business Management, 13e Understanding Numerical Information ● The importance of statistics ● Types of statistics ● Descriptive statistics ● Inferential statistics 10 CHAPTER 14

©2013 Cengage Learning. All Rights Reserved. Business Management, 13e Statistics Terms and Concepts ● Descriptive statistics ● Inferential statistics 11 CHAPTER 14

©2013 Cengage Learning. All Rights Reserved. Business Management, 13e Common Descriptive Statistics ● Range ● Frequency distribution ● Central tendency ● Mean ● Median ● Mode 12 CHAPTER 14

©2013 Cengage Learning. All Rights Reserved. Business Management, 13e Common Inferential Statistics ● Population ● Sample ● Probability ● Correlation 13 CHAPTER 14

©2013 Cengage Learning. All Rights Reserved. Business Management, 13e Non Fiction Book Study ● Turn in outline for book study – Due Today 14

©2013 Cengage Learning. All Rights Reserved. Business Management, 13e Using Data in Decision Making DLTs ● Describe how to identify and communicate the results of data analysis. ● Discuss how data should be used in effective decision making. 15 CHAPTER 14

©2013 Cengage Learning. All Rights Reserved. Business Management, 13e Communicating Results of Data Analysis ● Completing data analysis ● Summarizing results ● Written summaries ● Tables, charts, and graphs 16 CHAPTER 14

©2013 Cengage Learning. All Rights Reserved. Business Management, 13e ©2013 Cengage Learning. All Rights Reserved. Example of a Table 17 CHAPTER 14 © Cengage Learning 2013.

©2013 Cengage Learning. All Rights Reserved. Business Management, 13e ©2013 Cengage Learning. All Rights Reserved. Example of a Chart 18 CHAPTER 14 © Cengage Learning 2013.

©2013 Cengage Learning. All Rights Reserved. Business Management, 13e ©2013 Cengage Learning. All Rights Reserved. Example of a Graph 19 CHAPTER 14 © Cengage Learning 2013.

©2013 Cengage Learning. All Rights Reserved. Business Management, 13e Making Data-Based Decisions ● Reading and interpreting information ● Answering questions and solving problems 20 CHAPTER 14