100% tevredenheidsgarantie Direct beschikbaar na betaling Zowel online als in PDF Je zit nergens aan vast
logo-home
Full summary of the book statistics for business and economics €6,49   In winkelwagen

Samenvatting

Full summary of the book statistics for business and economics

 67 keer bekeken  4 keer verkocht

Summary of the book statistics for business and economics (fifth edition) for the pre master SCM/TOM and A&C. Samenvatting van het boek statistics for business and economics (fifth edition) voor de pre master SCM/TOM en A&C

Voorbeeld 4 van de 34  pagina's

  • Ja
  • 27 maart 2024
  • 34
  • 2023/2024
  • Samenvatting
book image

Titel boek:

Auteur(s):

  • Uitgave:
  • ISBN:
  • Druk:
Alle documenten voor dit vak (1)
avatar-seller
SamTBK
Statistics for Pre-MSc SCM & TOM – Knowledge clips summary
Book: statistics for business and economics, fifth edition, ISBN: 9781473768451
Clip 1: the role of statistics and data -> chapter 1
- Statistics is the art and science of collecting, analyzing, presenting and
interpreting data.
 It provides information for decision making.

- Databases = can be used for statistical analysis
- All information in these databases provide an overview of multiple aspects.
 It can be used to find out drivers of product sales for example.

- Big data = everything is stored on servers (information, personal info etc)
- Data sciences helps to support decisions based on calculations.
 Nowadays big data is valuable information for finding out relevant things to
investigate into detail -> the behavior of customer can be examined.


Terminology in statistics:
- Database / data set = total number of information / numbers in a sheet
- Columns = variables -> vertical axis
- Rows = observations / cases -> horizontal axis
- Each cell = measurement / data point


Types of variables: level of measurement
- Ratio = the same as interval but true zero exist (0 years old)
- Interval = the difference between the skills is the same (10-20 degrees is the
same difference as 30-40 degrees)
- Ordinal = a category with an order (sport competition; 1 st, 2nd, 3th)
- Nominal = a label, description, a category
 Ration and interval = metric / numerical data
 Ordinal and nominal = categorical data

, - Important consequences for what you can do statistically / mathematically with
the variable
 From nominal to ratio = data becomes more powerful, less restrictive




Examples with data:
- Nominal = data can be male or female -> no average can be found
- Ordinal = data can be unsatisfied, neutral, or satisfied (ranking) -> no
differences between variables can be derived
- Interval = differences in data can be drawn, but no true zero -> 15 degrees is
not half of 30 degrees, it is incorrect, and thus can’t be said
- Ratio = differences between data can be drawn -> someone who is 40 is twice
the age of someone who is 20
Types of data sets
- Cross sectional data = sample of individuals, during a time period
 Survey of cases (among customers for example)
- Time series data = mostly used in finance -> variables measured over time
 The change of stock prices over a long period of time
- Panel data = combination of both -> multiple cases and same variables
measured at multiple time points
 Every year you send out the same survey at the same time -> makes it
possible to see differences during a time period (purchase behavior)
 It is popular for marketing = data can be used to see how people react to
price changes and how their purchase behavior will be affected


Sources of data:

, - Primary data = data is collected during a survey for example -> high level of
control -> what variables, what people to interview
- Secondary data = information that is already acquired based on running their
business, mostly automatic -> can be used for a different purpose (less
control)
 Both data can be combined to get a better understanding of the data =
secondary data can be enriched with collection of primary data that
matches the secondary data




Statistics is a way to get information from data:
- Some questions = What is the average time between purchases of customers,
what is the average leadtime of goods?
- Data is used in statistics to make a conclusion.
- Data is based on a sample; you want to draw a conclusion on a population.




Key statistical concepts:
- Population = a population is the group of all items/ cases of interest

,  One wants to draw conclusions on this group.
- Sample = a sample is group of items/ cases drawn from the population
 One applies statistical analysis on the data from a sample.

 When you can’t study the whole population, you do it based on a sample
within that population to draw a conclusion on that population -> the larger
the sample size the higher the accuracy


From a population a random sample is drawn -> variable (e.g. money) will be
measured and histogram can be made -> standard deviation (SD) and average can
be computed -> it can be put into a distribution graph with the mean and SD -> based
on the graph something can be said about the population




Statistics & the empirical cycle -> used in sciences
- Theory = in sciences theories about the
behavior of consumers are proposed
- Hypothesis = propose a hypothesis: e.g.
if prices go down, sales go up
- Observations = data collection is
needed to get observations
- Empirical findings = test your findings
and make theory based on the data
 This circle is used to test theories
and propose new theories


Clip 2: tables and figures -> chapter 2
Statistical methods

Voordelen van het kopen van samenvattingen bij Stuvia op een rij:

Verzekerd van kwaliteit door reviews

Verzekerd van kwaliteit door reviews

Stuvia-klanten hebben meer dan 700.000 samenvattingen beoordeeld. Zo weet je zeker dat je de beste documenten koopt!

Snel en makkelijk kopen

Snel en makkelijk kopen

Je betaalt supersnel en eenmalig met iDeal, creditcard of Stuvia-tegoed voor de samenvatting. Zonder lidmaatschap.

Focus op de essentie

Focus op de essentie

Samenvattingen worden geschreven voor en door anderen. Daarom zijn de samenvattingen altijd betrouwbaar en actueel. Zo kom je snel tot de kern!

Veelgestelde vragen

Wat krijg ik als ik dit document koop?

Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.

Tevredenheidsgarantie: hoe werkt dat?

Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.

Van wie koop ik deze samenvatting?

Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper SamTBK. Stuvia faciliteert de betaling aan de verkoper.

Zit ik meteen vast aan een abonnement?

Nee, je koopt alleen deze samenvatting voor €6,49. Je zit daarna nergens aan vast.

Is Stuvia te vertrouwen?

4,6 sterren op Google & Trustpilot (+1000 reviews)

Afgelopen 30 dagen zijn er 83662 samenvattingen verkocht

Opgericht in 2010, al 14 jaar dé plek om samenvattingen te kopen

Start met verkopen
€6,49  4x  verkocht
  • (0)
  Kopen