QBM 101 Business Statistics

Department of Business Studies

Faculty of Business, Economics &
Accounting
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 SUBJECT OUTLINE
 Module 1: Introduction; organizing
and graphing data; numerical
descriptive measures
 Module 2: Probability, discrete random
Variables; continuous random Variables and
the normal distribution
 Module 3: Sampling distributions;
estimation; hypothesis testing
 Module 4: Simple linear regression
MAIN TEXT

 Mann, S. (2017).
P. Statistics,
Introductory
Global edition, John
Wiley & Sons.
 ASSESSMENT
No. Item Weight Date

1 Test 20% TBA

2 Quiz 20% TBA

3 Final exam 60% 17-22 Jan 2022

• Open book exams

 REQUIREMENTS
To gain a pass:
 Achieve a passing grade in the final
examination, i.e. score a minimum
of 30 marks out of
60 marks
 Attempt ALL areas of assessment;
and achieve a total result of 50% or
better overall
 SUBJECT OUTLINE
 Module 1: Introduction; organizing
and graphing data; numerical
descriptive measures
 Module 2: Probability, discrete random
Variable (likely to change often) (biến)s;
continuous random Variable (likely to change
often) (biến)s and the normal distribution
 Module 3: Sampling distributions;
estimation; hypothesis testing
 Module 4: Simple linear regression
 CHAPTER 1: INTRODUCTION
 1.1 Statistics and types of statistics
 1.2 Population versus sample
 1.3 Basic terms
 1.4 Types of Variable (likely to change
often) (biến)s and levels
of measurement
 1.5 Cross-section versus time-series
data
 1.6 Sources of data
 1.7 Summation notation
 CHAPTER 1: INTRODUCTION
 Statistics – numerical facts; the science of
collecting, analyzing, and interpreting data, as
well as making decision based on the analyses

 Descriptive statistics (thống kê mô tả)

(organizing and displaying data) vs.
inferential statistics (thống kê suy luận) (use
sample results to make predictions about a
population)
Exercise 1: Decide whether descriptive
(D) or inferential (I) statistics is used for each
of the following statements.

1.A recent study showed that eating garlic can

decrease blood pressure. – I (just use sample to
make predictions)
2.It is predicted that the average number of
cars each household owns will increase by 2
next year. - I
3.The lecture attendance yesterday was 120. -
D
 Population (all the elements) vs.
sample (a portion of (một phần
của)the population).
 Census (điều tra dân số) (includes
every member of the population) vs.
sample survey (khảo sát mẫu)
(includes only a portion of (một phần của)the
population)
 Representative sample (mẫu đại
diện): a sample that represents (đại diện)
the characteristics (đặc điểm) of the
population as closely as possible.
 Random sample: each element of the
population has a chance of being selected,
eg. by lottery or draw
 Sampling with (element is put back) or
without replacement (element is not
replaced). Constant p vs. varied p.
 Element / member
(specific subject/object)
 Variable (likely to change
often) (can assume (giả định) different
values) vs. constant (fixed value)
 Observation /
(value of a Variable (likely to change
measurement
often) (biến)) of
 Data set (collection
observation)
Exercise 2: Classify each Variable (likely to
change often) as discrete (D) or continuous
(C).

1.The time it takes to complete an

exam. - C
2. The number of cars a person owns. - D
3.The number of lecturer in a
university. - D
4.The amount of vitamin C in an
apple. - C
5. The price of a textbook. - C
 LEVELS OF MEASUREMENT
 Qualitative (định tính)/QL (categorical)
 Nominal (name)
 1 for male, 2 for female
 0 for no, 1 for yes

 Ordinal (order)
 1 poor, 2 average, 3 good
1 most preferred, 2 second choice, 3 least
preferred
 Quantitative (định lượng)/QT (numerical)
 Interval (khoảng thời gian) (arbitrary zero)
 Temperature, year
 Ratio (định lượng) (natural / true zero)
 Weight, height, number of students
 MEASUREMENT LEVELS
Differences between Strongest
measurements, true Ratio Data level
zero exists

Differences between
measurements but no Interval Data
true zero

Ordered Categories
(rankings, order, or Ordinal Data
scaling)

Categories (no Weakest

ordering or direction) Nominal Data level
Exercise 3: State the level of measurement for each
question. (nominal, N; ordinal, O; Interval (khoảng thời gian), I, or Ratio
(định lượng), R)

1. Grade obtained by in an exam (HD1, HD2, DI1, DI2, CR1,

CR2, PS1, PS2, FL) - Ordinal
2. Gender (M, F) - Nominal
3. Temperature of a town in Malaysia - Interval
4. Marital status (tình trạng hôn nhân) – Nominal (single, married …)
5. Size of t-shirt (XS, S, M, L, XL) - Ordinal
6. Thickness of hair - Ratio
7. Number of students in a class - Ratio
8. The year a company was established - Interval
9. Hotel’s rating – Interval
10. Price of a laptop - Ratio
11. Size of drinks (short, tall, grande, venti, trenta) - Ordinal
12. Ratings of a new mobile game - Interval
13. Classification of students according to their major - Nominal
14. Number of questions in an exam - Ratio

Cross section data (different element but same
period of time) vs. time-series data (same element but
different period of time)
 Internal sources (company’s
own files and records)

 External sources (outside

sources,
e.g. handbooks and reports)

 Surveys and experiments

Suppose a sample consists of five books, and the prices
of these five books are

RM 175, RM 80, RM 165, RM 97, and RM 88

The Variable (biến) price of a book: x

Price of the first book = x1 = RM 175 Price

of the second book = x2 = RM 80 Price of
the third book = x3 = RM 165 Price of the
fourth book = x4 = RM 97 Price of the fifth
book = x5 = RM 88
Adding the prices of all five books gives
5

x
i1 x i  x1  x2  x3  x4  x5
 175  80 165  97  88  RM
605
EXAMPLE 1-1
Annual salaries (in thousands of dollars) of
four workers are 75, 90, 125, and 61,
respectively. Find
(a) ∑x (b) (∑x)² (c) ∑x²

(a)  x  x1  x2  x3  x4
 75  90 125  61  351  $351, 000

 x 
2
(b)  (351) 2  123, 201
(c)  2011000
x
 $123,
2
 x1
2
 x2 
2 2
x

2
3  x
$123,
2
4 201, 000, 000

 752  902 1252  612

 5625  8100 15, 625  3721  33,
Example 1-2

The following table lists four pairs of

m and f values:

Compute the following:

(a) Σm (b) Σf² (c) Σmf (d) Σm²f
EXAMPLE 1-2: SOLUTION

We can write
m1 = 12 m2 = 15 m3 = 20 m4 = 30
f1 = 5 f2 = 9 f3 = 10 f4 = 16

(a) (b) (c) (d)

EXERCISE 4

(a)  m  59
(b)  f 2  2662
(c)  mf 
1508
(d)  m 2 f 
 SUMMARY
Descriptive statistics (thống kê
mô tả) vs. inferential statistics
Discrete vs. continuous
Variables
Levels of measurement: nominal,
ordinal, Interval (khoảng thời gian),
Ratio (định lượng).
 Summation notation