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COB 191 Week 2 Notes

by: Hannah Schwenk

COB 191 Week 2 Notes COB 191

Marketplace > James Madison University > Math > COB 191 > COB 191 Week 2 Notes
Hannah Schwenk
GPA 3.68

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About this Document

week 2
Business Statistics
L. Dutt
Class Notes
Math, Statistics
25 ?




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This 3 page Class Notes was uploaded by Hannah Schwenk on Sunday September 11, 2016. The Class Notes belongs to COB 191 at James Madison University taught by L. Dutt in Fall 2016. Since its upload, it has received 12 views. For similar materials see Business Statistics in Math at James Madison University.


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Date Created: 09/11/16
COB 191 Notes 9/5 - 9/9 ** ON EXCEL File->Options->Excel Options-> Add Ins-> Data Analysis**  Bar Charts o Good way to show qualitative data of different categories o Data sets->Insert-> Bar charts  Pareto Charts o Frequency of categories that cause quality control problems o Shows Relative and cumulative Frequency  Pie Charts o Compares proportions of categorical data  Contingincy Table o Format to display observations with more than one value o Insert-> Pivot Table  Stem and Leaf Display o Splits values into stems (10’s) and leaves (1’s)  Scatter Plot o Picture of the relationship between 2 data points o Dependent variable- Y axis o Independent variable- X axis  Line Charts o Scatter plot connected with line segments o Often used with time series data  Frequency Distribution o Number of data observations that fall into specific intervals.  Discrete Data o Values based on observation that can be counted and are represented by whole numbers  Continuous Data o Any real number o Can contain fractions, decimals etc  Relative Frequency Distributions o Displays the proportions of the observations  Cumulative Relative Frequency o Sum of all proportions o Always adds up to 100%  Histogram o Frequency of observations in a distribution  Frequency Distribution o Use between 4 and 20 classes o To determine ideal number of classes  2^K >/= n  K= number of classes  n= number of data points o To determine the width of each class  Range of numbers included in each class  Max Value – Min Value / number of classes  Estimated Width o NUMBER OF CLASSES CHEAT SHEET o 2^K >/= n  1 class - 2 or less data points  2 classes – 4 or less  3 classes – 8 or less  4 classes - 16 or less  5 classes - 32 or less  6 classes – 64 or less  7 classes – 128 or less  8 classes – 256 or less  9 classes – 312 or less o Rules for Classes  All classes must be the same width  All classes are mutually exclusive  All data is included  Avoid empty classes  Avoid open ended classes o Percentage Polygon  Graphs the midpoint of a class as a line instead of a column  Must be able to interpret, but not build on excel o Cumulative Polygon  Ogive  Line graph that plots the cumulative relative freuquency distribution.


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