Applied Statistics for Economics and Business by Durmuş Özdemir (auth.)

By Durmuş Özdemir (auth.)

This textbook introduces readers to sensible statistical matters through providing them in the context of real-life economics and enterprise occasions. It provides the topic in a non-threatening demeanour, with an emphasis on concise, simply comprehensible motives. it's been designed to be obtainable and student-friendly and, as an further studying characteristic, offers the entire appropriate info required to accomplish the accompanying routines and computing difficulties, that are provided on the finish of every bankruptcy. It additionally discusses index numbers and inequality indices intimately, on account that those are of specific significance to scholars and ordinarily passed over in textbooks.

Throughout the textual content it truly is assumed that the coed has no earlier wisdom of facts. it really is aimed essentially at enterprise and economics undergraduates, delivering them with the elemental statistical talents worthy for extra research in their topic. despite the fact that, scholars of alternative disciplines also will locate it relevant.

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Applied Statistics for Economics and Business

This textbook introduces readers to sensible statistical matters through proposing them in the context of real-life economics and enterprise events. It provides the topic in a non-threatening demeanour, with an emphasis on concise, simply comprehensible motives. it's been designed to be obtainable and student-friendly and, as an extra studying characteristic, presents all of the appropriate info required to accomplish the accompanying workouts and computing difficulties, that are awarded on the finish of every bankruptcy.

Additional resources for Applied Statistics for Economics and Business

Sample text

In the second part of this chapter we looked at more complicated graphs: histograms, frequency density, and frequency polygon. xls (a) Draw time series graphs of both the quantity landed and the price of anchovy. (b) Calculate the percentage change to June 2000 in tonnes landed from, (1) June 1999 (2) December 1999, (3) May 2000. 28 2 Data Presentation: Graphs, Frequency Tables and Histograms (c) Plot a scatter diagram with quantity landed on the x axis and price on the y axis. Any comments? 2 The data below refer to GNP growth rates at producers’ prices.

If we observe the data in its raw form it is not immediately obvious what the usual trend of per capita economic growth is. In order to see this trend more clearly we can construct an XY chart. xls If we represent years on the ‘X’ axis and growth per capita on the ‘Y’ axis then we can construct a typical XY chart (as shown below). XY charts are a simple means by which data can be represented graphically. In this example the chart provides information on the economic growth of Turkey from 1923 to 2006 (Fig.

1 Introduction Illustrations are generally not used enough as a tool for analysing data and it is often the case that, on their own, large batches of raw data can appear overwhelming to the observer. If a body of information is presented using a simple diagram or graph then it is, as a rule, more readily understandable. In general diagrams are much easier on the eye, being more visually attractive. They are also easier on the brain, in that they are less difficult to comprehend at a glance. Another advantage is that they may also reveal aspects of data that might otherwise be overlooked.

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