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STATISTICAL ANALYSIS FOR BUS & ECON Chapter 2 : Tables and Graphs

Learn how to choose and create the best graphical presentations for different types of data using Excel. Visualize valuable information contained in data.

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STATISTICAL ANALYSIS FOR BUS & ECON Chapter 2 : Tables and Graphs

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  1. E370 Spring 2016 STATISTICAL ANALYSIS FOR BUS & ECON • Chapter 2: Tables and Graphs

  2. Objectives • Be able to distinguish different kinds and types of data • Be able to choose the best graphical presentations for different kinds of data • Be able to use Excel to draw them Statistical Analysis for Business & Economics: Spring 2016

  3. Information contained in data is valuable Visualize it! Statistical Analysis for Business & Economics: Spring 2016

  4. Theory Statistical Analysis for Business & Economics: Spring 2016

  5. Graphical Techniques for Numerical Data • Decide the number of classes. • Decide the class intervals and set class limits • Enter the bin range (right open intervals) • Close the column gaps. Statistical Analysis for Business & Economics: Spring 2016

  6. Graphical Techniques for Numerical Data • A line version of the histogram • Plotted using class midpoints • Best way to represent several variables on the same axes. • The look of the data is easily influenced by the classes selected. That is, it shares the same problems as histogram Statistical Analysis for Business & Economics: Spring 2016

  7. Graphical Techniques for Numerical Data • A line version of cumulative frequencies • Plotted using upper class limits and frequencies • Non-decreasing graph, always begins at (0,0) Statistical Analysis for Business & Economics: Spring 2016

  8. Graphical Techniques for Categorical Data • Good for relative comparisons among categories. • If there is a large number of categories or frequencies are small, it may not be informative. Statistical Analysis for Business & Economics: Spring 2016 8

  9. Graphical Techniques for Categorical Data • Bar chart is also used for relative comparisons among categories. • It is useful when there is a large number of categories or frequencies are small. Statistical Analysis for Business & Economics: Spring 2016 9

  10. Graphical Techniques for Categorical Data • Only useful on non-numerical data. • If there are lots of categories, it rapidly pinpoints the important groups. • Designed to separate the important few from the trivial many Statistical Analysis for Business & Economics: Spring 2016 10

  11. If you are doing a presentation to Apple What graph to include? What information to highlight? Statistical Analysis for Business & Economics: Spring 2016

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