Basic Statistics for Business & Economics (Business by Douglas A. Lind

By Douglas A. Lind

This name covers the basic themes of statistical instruments and techniques. The innovations are illustrated with solved utilized examples. glossy computing instruments and purposes are brought, however the textual content keeps a spotlight on featuring statistics content material instead of expertise or programming tools.

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I per guno~er IS. p09018~( f9undbrJ : I;~1,59,9(~O,OQO,00p. '. 6'Yhers'~redoctors. :·1 I Q) >.... I '. B. rs :. j l;d~pgero~~ lliallgun 300 .... ttl i gim;buteveryone ..... 'has at least one d6c-! :~oi;ThisisaiJ. ~1 0 2000 2005 Year CHART 1-4 School Taxes for 2000 and 2005, Corry Exempted School District Graphs and charts of data, such as histograms, line charts, and bar charts, can also be misleading if they are not drawn appropriately. We cover these graphs and charts in detail in the next chapter.

5 are added to the X-axis to "anchor" the polygon at zero frequencies. 5) in the frequency distribution. ). Although the two representations are similar in purpose, the histogram has the advantage of depicting each class as a rectangle, with the height of the rectangular bar representing the number in each class. The frequency polygon, in turn, has an advantage over the histogram. It allows us to compare directly two or more frequency distributions. Suppose Ms. Ball of AutoUSA wants to compare the Whitner Autoplex lot in Raytown, Missouri, with a similar lot, Fowler Auto Mall in Grayling, Michigan.

We discuss sampling methods in Chapter 8. The term average refers to several different measures of central location that we discuss in Chapter 3. To most people, an average is found by adding the values involved and dividing by the number of values. So if a real estate developer tells a client that the average home in a particular subdivision sold for $150,000, we assume that $150,000 is a representative selling price for all the homes. But suppose there are only five homes in the subdivision and they sold for $50,000, $50,000, $60,000, $90,000, and $500,000.

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