This lesson begins by explaining statistics and how it is used by scientists. You will learn that statistics is not a meaningless compilation of data, rather it is a tool that helps us evaluate real events that have great impact on our everyday lives. You will learn about the types of data that researchers collect, how the data is displayed, and finally, how data is initially interpreted.
Subjects: Business mathematics
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Describing Distributions
Professionals of all types must make sense out of the huge amounts of data they collect on a daily basis. Researchers first try to impose some sort of order on their data by looking at the average values and the extent to which their numbers vary from day to day or month to month. Business owners face the challenge of making sure they have enough staff to accommodate customers while not having so many that it hurts their bottom line. Using the right descriptions of their data enables management to schedule workforces appropriately.
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Normal Distributions
As you have seen in earlier lessons, statisticians have visual and numerical ways of describing a set of data. Histograms are one of the most common ways to display numerical data. By looking at a histogram, we can easily see the mean and spread of the data. In this lesson, you will learn how the visual impression of a histogram is translated into curves that closely describe the data.
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Scatterplots & Correlation
Questions about the relationship between two variables are asked all the time. Will time spent in a certain rehab program really increase an addict’s chance of not relapsing? Will extra minutes spent training athletes result in better performance or increase fatigue and decrease performance? Is the increased carbon dioxide in the atmosphere really increasing the earth’s temperature? All these questions can be addressed by statistics and analyzed initially through a display called a scatterplot.
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Statistically Speaking Box Set (32 Lessons on 3 DVDs)
Thirty-two video lessons are uniquely embedded in a special edition of W.H. Freeman’s StatsPortal. Instructors select from two textbook options, and students purchase an eBook/StatsPORTAL token.
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Introduction to Statistics
We are bombarded with statistics every day. But what do all these numbers mean and who really uses them? This lesson introduces you to the many uses of statistics in the real world of science and industry. You will meet and hear the stories of how people utilize statistics to better understand the world around them. Their stories bring the field of statistics into focus.
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Statistics: Sampling, Surveying and Data Analysis
In this dynamic program, our presenter wants to make a YouTube music video for her best friend’s band, but they can’t agree on which song to do! The solution: survey the target market – their friends and family – to find out which song they like best, as well as other relevant information. What at first seems a simple task provides an opportunity to learn all about statistics. We discover how to sample data, present the data, and draw valid conclusions from the data analysis. Along the way we learn about quantitative and nominal data, and mean, median and mode.
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Interest, Loans and Credit
You want to buy a new bike, but you’ve only got half the money you need. You might consider a high-interest savings account. But how long would it take to save? And how much would you pay in bank fees? Alternatively, you could get a personal loan, credit card, interest-free loan, or store credit? This vibrant, fast-paced program takes a mathematical approach to finding the right financing option. It explores simple interest, compound interest, and various financing options with or without interest. It considers fees and charges, interest earned or paid, and how long it will take to achieve your goal.
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Balancing the Books: Understanding Financial Reporting
Balancing the books is an essential part of business. Accounting methods help businesses collect, record and analyze financial data. Follow trainee accountant Calvin Clegg, a contestant on the quiz show “Who Wants to Make a Million” as he is quizzed with accounting questions that take him back to his accounting traineeship. His supervisor Dianne teaches him how to balance the books and how to evaluate business performance using financial records. Areas covered include accounting information and tools, the balance sheet, calculating profit and loss, cash control, and assessing financial performance. With Dianne’s help, Calvin is poised to “make a million”.
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The Stanford Video Guide to Financial Statements
Financial statements need not be an impenetrable web of numbers. Analysis can be both simple and logical. Whether you are an investor, lender, supplier, customer, or acquirer, basic financial analysis can save you painful losses and win you big profits. Professor George Parker provides both line-by-line explanations of the three key financial statements used by US companies and logical, common-sense approaches to interpreting what they reveal about value, profitability, and ability to pay bills. The Balance Sheet: What does this company own?; How much debt is it carrying?; How much money have investors put in? The Income Statement: What is the sales volume?; What kind of expense is the company incurring?; How much money is the company earning?; Which income figure should I look at: operating income, income before interest and taxes, or net income? The Cash Flow Statement: Will this company be able to pay its bills?; Where’s their cash flow coming from? Includes free study guide and extra study guides are available for purchase.