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My last name starts with a letter somewhere between A. A – D B. E – L C. M – R D. S – Z

Please click in. Set your clicker to channel 03. My last name starts with a letter somewhere between A. A – D B. E – L C. M – R D. S – Z. MGMT 276: Statistical Inference in Management Room 103 CESL Fall , 2011. Welcome.

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My last name starts with a letter somewhere between A. A – D B. E – L C. M – R D. S – Z

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  1. Please click in Set your clicker to channel 03 My last name starts with a letter somewhere between A. A – D B. E – L C. M – R D. S – Z

  2. MGMT 276: Statistical Inference in ManagementRoom 103 CESLFall, 2011. Welcome Remember to hold onto homework until we have a chance to cover it http://www.youtube.com/watch?v=Ahg6qcgoay4&watch_response http://www.youtube.com/watch?v=oSQJP40PcGI

  3. Use this as your study guide By the end of lecture today9/15/11 • Objectives of research in business • Characteristics of a distribution • Central Tendency • Dispersion • Shape • Review for Exam

  4. No Homework • Just study for exam Please double check – Allcell phones other electronic devices are turned off and stowed away

  5. Exam 1 – This Tuesday (9/20/11) Study guide is up Bring 2 calculators (remember only simple calculators,we can’t use calculators with programming functions) Bring 2 pencils (with good erasers) Bring ID

  6. Review of Homework Worksheet

  7. Overview Frequency distributions The normal curve Mean, Median, Mode, Trimmed Mean Standard deviation, Variance, Range Mean Absolute Deviation Skewed right, skewed left unimodal, bimodal, symmetric

  8. Standard deviation: The average amount by which observations deviate on either side of their mean These would be helpful to know by heart – please memorize these formula

  9. 2 sd above and below mean 95% 1 sd above and below mean 68% 3 sd above and below mean 99.7% These would be helpful to know by heart – please memorize areas

  10. z scores z score: A score that indicates how many standard deviations an observation is above or below the mean of the distribution z score = raw score - mean standard deviation What’s the biggest possible z score? How are standard deviations (or z scores) related to probability (also known as area under the curve or proportion of curve or percent of curve)

  11. Why do we concern ourselves about research in business? – Five objectives 1. To explore potential phenomena • explore whether phenomenon is present • explore a phenomenon with a fresh take • generate new ideas and discover relationships

  12. Why do we concern ourselves about research in business? – Five objectives 2. To describe phenomena • build a vocabulary of constructs and make distinctions between similar constructs • cluster similar characteristics into related constructs . - Business strategies e.g. business socks – how might you market this? - Types of management style - Strategies for quality control

  13. Why do we concern ourselves about research in business? – Five objectives 3. To explain and model phenomena • explanation: find cause and effect relationships • propose mechanisms that determine outcomes • show how and why a phenomenon operates as it does

  14. Why do we concern ourselves about research in business? – Five objectives 4. To predict future behavior • what characteristics are likely to result in workerproductivity, consumer behavior, etc... • explanations can help with predictions, but being able to predict an outcome doesn’t necessarily provide a good explanation

  15. Why do we concern ourselves about research in business? – Five objectives 5. To influence behavior • how can we use what we know about human behavior to affect how people around us react and behave (and do what we want) • increasing probability of sales • supervisors increasing probability of happy employees • parent increasing probability of child taking out the trash • to advance better practices

  16. Exam review

  17. Thank you! See you next time!!

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