×

### Let's log you in.

or

Don't have a StudySoup account? Create one here!

×

or

## Intro Stats and Data Analysis

by: Dr. Leon Koss

44

0

5

# Intro Stats and Data Analysis ECON 2370

Marketplace > University of Houston > Economcs > ECON 2370 > Intro Stats and Data Analysis
Dr. Leon Koss
UH
GPA 3.89

Staff

These notes were just uploaded, and will be ready to view shortly.

Either way, we'll remind you when they're ready :)

Get a free preview of these Notes, just enter your email below.

×
Unlock Preview

COURSE
PROF.
Staff
TYPE
Class Notes
PAGES
5
WORDS
KARMA
25 ?

## Popular in Economcs

This 5 page Class Notes was uploaded by Dr. Leon Koss on Saturday September 19, 2015. The Class Notes belongs to ECON 2370 at University of Houston taught by Staff in Fall. Since its upload, it has received 44 views. For similar materials see /class/208206/econ-2370-university-of-houston in Economcs at University of Houston.

×

## Reviews for Intro Stats and Data Analysis

×

×

### What is Karma?

#### You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

Date Created: 09/19/15
Econ 2370 Spring 2000 O Donnell 7 5 D 9 a 01 Chapter 3 Describing Bivariate Data Motivation Does the knowledge of the values of one variable help you understand the distribution of values of another variable How do you measure and assess this association a Economic theory tells us that price demanded falls as the available quantity of a good increase Supply of a good increases as prices rise Increasing the income of consumers for some goods can lead to an increase in price demanded for a good Discussion on causality does the association between two variables always imply causality Independent and dependent variables a Dependent variable variable of interest variations in the variable described by exploratory independent variables When theory describes a casuality be tween two variables values found in the dependent variable are heavily influenced caused by the exploratory or independent variables b Independent variables values found in an independent variable are not per ceived to be in uenced by other variables Does every association between variables imply that there exists an independent and dependent variable No No No Graphical presentation of bivariate data i The type of graphs used in economic textbooks are scatterplots 6 Tools to analyze the values in a scatterplot i Is there a pattern downward sloping pattern upward sloping pattern other patterns ii Clustering of the points along the pattern iii The presence of outliers 6 Numerical Measures of Bivariate data Interval variables xy 18 Econ 2370 Spring 2000 O Donnell a Correlation coef cient i Formula s smsy where 231931 i yd n l Say H H 39 Range ofr gt 1 to 1 H H H Interpretation of r gt 1 implies a very strong positive correlation scatterplot would show an upward sloping pattern with a tight clustering of points along the pattern 1 implies a very strong negative pattern 0 implies no pattern Note the value of r is not a measure of the slope 7 Using the correlation value to estimate the slope and intercept of the line that best represents the linear relationship between two variables Best tting line is called the regression line The best tting line is the line that gives the minimum distance between the points of data and the line The econometric course will examine how to produce the best tting line under different circumstances Let s take b to be the slope of the line and a as the intercept value the value where x20 The rst variable is x and its mean is i The second variable is y and its mean is g The formulas for b amp a are Inferences from Small Samples 1 lx39 00 F U The Central Limit Theorem which describes the mean standard deviation and shape of the sampling distribution depends on large samples n 2 30 What can be said about the mean standard deviation and shape of the sampling distribution when n is small If the sample is drawn from approximately normal populations the mean of the sampling distribution is the same for the sampling distribution of the means for large sample The shape is symmetric The standard deviation is not 1 it varies because the shape varies for different sample sizes Student s T scores distribution 1 2 Developed by WS Gosset in 1908 Based on a ratio of the standard normal distribution function and the square root of the X2 distribution 3 Given a sample of n observations the statistics t j 8 has a t distribution with n 1 degrees of freedom 1 There are many different If distributions 2 Every distribution resembles a standard normal distribution but each have fatter tails 3 Small samples have more variability 4 As the sample size approaches 30 the distribution becomes normal Degrees of Freedom 1 Number of independent units of observations in the sample relevant to estimation of a particular point estimate 2 There are n observations as the initial units of information 3 Only one observation is used to determine the point estimate 4 The remaining observations are allowed to be any value they are allowed to be free Mathematica Examples How do T scores compare to Z scores Here are the two tailed values at p005 Z Scores 196 TScores 1129 2045 df20 2086 1115 2131 1110 2228 if 5 2571

×

×

### BOOM! Enjoy Your Free Notes!

×

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

## Why people love StudySoup

Steve Martinelli UC Los Angeles

#### "There's no way I would have passed my Organic Chemistry class this semester without the notes and study guides I got from StudySoup."

Kyle Maynard Purdue

#### "When you're taking detailed notes and trying to help everyone else out in the class, it really helps you learn and understand the material...plus I made \$280 on my first study guide!"

Jim McGreen Ohio University

#### "Knowing I can count on the Elite Notetaker in my class allows me to focus on what the professor is saying instead of just scribbling notes the whole time and falling behind."

Parker Thompson 500 Startups

#### "It's a great way for students to improve their educational experience and it seemed like a product that everybody wants, so all the people participating are winning."

Become an Elite Notetaker and start selling your notes online!
×

### Refund Policy

#### STUDYSOUP CANCELLATION POLICY

All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email support@studysoup.com

#### STUDYSOUP REFUND POLICY

StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here: support@studysoup.com

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to support@studysoup.com