BUSINESS STATISTICS MGT 2302 Lecturer Name Liyana Adilla

BUSINESS STATISTICS MGT 2302 Lecturer Name : Liyana ‘Adilla SCHOOLOGY ACCESS CODE: 7 QRB 9 -4 MPNN 1

OBJECTIVE 1. To gain student’s understanding of the basic principles and methods of business statistics and obtain experience in applying those principles to analyze data real data. 2. Provide student’s with an understanding and ability to apply statistical techniques in the analysis of business assessment for good decision-making. 2

OBJECTIVE 3. To emphasis students on probability theory and sampling techniques, statistical inferences, regression analysis, the use of statistical software and the interpretation and use of resulting computer output. 4. To expose students to statistical techniques for business decisions and business research. Exposing a. Use and interpret data for decision making. b. Enhance their skills in using statistical techniques. c. Enhance their skills and ability to use these techniques. 3

Learning Outline Week 1&2 Topic 1. Introduction to Statistic 2. Presenting numerical information 3, 4&5 3. Summarizing data 6&7 8 9 10 5. Correlation 6. Regression Analysis 8. Time series analysis and forecasting 9. Price Index 12 10. Probability 11. Probability distribution 12. Estimation 13 Presentation 11 14 Revision 4

ASSESSMENT STRUCTURE QUIZ MIDTERM ASSIGNMENT TUTORIAL FINAL EXAMINATION 5% 20% 25 % 10% 50% W 1 W 7/8 W 9 W 16 5

CONTENT 1. 1 What is Statistics 1. 2 Use of Statistics 1. 3 Primary Data 1. 4 Secondary Data 6

1. 1: WHAT IS STATISTICS? Most people become familiar with probability and statistics through radio, television, newspapers, and magazines. For example, the following statements were found in newspapers. • Only 2 out of 11864 National Service dodgers have been hailed to the court • Based on the 2000 census, 40. 5 million households have two vehicles. • The average annual salary for a professional football player for the year 2001 was $1, 100, 500. • The average cost of a wedding is nearly RM 10, 000. • In USA, the median salary for men with a bachelor’s degree is $49, 982, while the median salary for women with a bachelor’s degree is $35, 408. • Based on a survey of 250, 000 individual auto leases signed from March 1 through April 15, 2002, 73% were for a Jaguar. • Women who eat fish once a week are 29% less likely to develop heart disease. 7

Introduction (Cont. ) Most people become familiar with probability and statistics through radio, television, newspapers, and magazines. For example, the following statements were found in newspapers. PREPARED BY MS. LIYANA ADILLA 8

STATISTICS a branch of mathematics dealing with the collection, analysis, interpretation, and presentation of masses of numerical data a collection of quantitative data Source - http: //www. merriam-webster. com/dictionary/statistics 9

IS STATISTICS IMPORTANT ? LOLX, don’t discuss like them ! DISCUSS WITH YOUR TEAMMATES 10

Why you should study STATISTICS? 1. Students as well as the professional people, must be able to read and understand the various statistical studies performed in their fields. To have this understanding, they must be knowledgeable about the vocabulary, symbols, concepts, and statistical procedures used in these studies. 2. Students and professional people may be called on to conduct research in their fields, since statistical procedures are basic to research studies. To accomplish this, they must be able to design experiments; collect, organize, analyze, and summarize data; and possibly make reliable predictions or forecasts for future use. They must also be able to communicate the results of the study in their own words. 3. Students and professional people can also use the knowledge gained from studying statistics to become better consumers and citizens. For example, they can make intelligent decisions about what products to purchase based on consumer studies about government spending based on utilization studies, budget, expenses and so on. 11

VARIOUS USE OF STATISTICS Statistics is used in almost all fields of human endeavor. In sports, statistician may keep records of the number of yards a running back gains during a football game, or the number of hits a baseball player gets in a season. In public health an administrator might be concerned with the number of residents who contract a new strain of flu virus during a certain year. In education A researcher want to know if new methods of teaching are better than old ones. Furthermore, statistics is used to analyze the results of surveys and as a tool in scientific research to make decisions based on controlled experiments. Other uses of statistics include operations research, quality control, estimation, and prediction. 12

OBTAINING DATA PRIMARY SOURCE SECONDARY SOURCE 13

PRIMARY DATA Original data compiled and studied for a specific purpose. DIRECT OBSERVATION SURVEYS INTERVIEWS LOGS SOURCE 14

SECONDARY DATA Data collected by someone other than the user. Common sources of secondary data for social science include censuses, surveys, organizational records. TV, radio, internet Magazines, newspapers Reviews Research articles Stories told by people you know SOURCE 15

Now In Pairs Brainstorm about the examples of q. Primary Data q. Secondary Data 16

Examples of Primary Data • Observing students whether they are asleep during lectures. • Interview a professor about how to prepare an academic writing. 17

Examples of Secondary Data Information that has been collected by another agency. Examples of secondary data include • Government reports and statistics, • Company reports and accounts, and • Weather reports in newspapers. 18

Class Tutorial 1) 2) 3) 4) DEFINE STATISTICS? NOTE DOWN TWO USE OF STATISTICS. DEFINE PRIMARY DATA. DEFINE SECONDARY DATA. 19

Conclusion The applications of statistics are many and varied. People encounter them in everyday life, such as in reading newspapers or magazines, listening to the radio, or watching television. 20

THANK YOU 21