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Basic Statistical Techniques

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Presentation on theme: "Basic Statistical Techniques"— Presentation transcript:

1 Basic Statistical Techniques
Normal Distribution

2 Data can be "distributed" (spread out) in different ways.
There are many cases where the data tends to be around a central value with no bias left or right, and it gets close to a "Normal Distribution" like this: Normal Distribution Many things closely follow a Normal Distribution: heights of people size of things produced by machines errors in measurements blood pressure marks on a test We say the data is "normally distributed". The "Bell Curve" is a Normal Distribution. It is often called a "Bell Curve" because it looks like a bell. The yellow histogram shows some data that follows it closely, but not perfectly (which is usual). The Normal Distribution has: mean = median = mode symmetry about the centre 50% of values less than the mean and 50% greater than the mean

3 Normal Distribution 68% of values are within 1 standard deviation of the mean 95% of values are within 2 standard deviations of the mean 99.7% of values are within 3 standard deviations of the mean

4 Business Management Motivation Theories

5 Which are which?!?!? Motivation Theories Content theories
Process theories Which are which?!?!?

6 Motivation Theories Content theories Process theories
Maslow’s Hierarchy of needs Aldefer’s modified need hierarchy model Herzberg’s Two factor theory McClelland’s achievement motivation theory Expectancy based model - Vroom Equity theory - Adam Goal theory - Locke

7 Law for Accounting and Finance
Criminal V Civil

8 Criminal V Civil Purpose Parties Outcome Terminology Burden of Proof
Courts

9 Criminal V Civil Purpose Parties Outcome Terminology Burden of Proof
Courts Preserve social order by punishing wrongdoers & deterring others State Prosecutes defendant Eg R V Smith Innocent – defendant discharged Guilty – defendant convicted and sentence imposed Prosecute Crown & accused Prosecution must prove guilt of defendant “beyond all reasonable doubt” Crown Court Magistrates Court Compensate a person who has suffered loss or injury due to acts of another Claimant initiates claim against defendant, no police involvement Claimant wins – remedy awarded Claimant loses – remedy not awarded Sue Claimant & defendant Claimant must prove case on balance of probabilities High Court –3 divisions – Family, Chancery, Queens Bench County Court


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