ECO220Y1 Lecture Notes - Lecture 2: Statistic, Interquartile Range, Quartile
ECO220
Lecture 2
May 10, 2018
1
Chapters 1- 4 Statistics, Data, Population and Sample Cont.
1. What is statistics?
- If the population size is manageable, we will collect data from everyone
o E.g. census
- In many cases, the size of the population is too large to handle
- Assume that the characteristics of the sample match with that of the larger population
- If your survey asks questions about sensitive topics (sensitive data), you may not get a
direct answer. E.g. questions about age or income. People aren't obligated to answer all
your questions. People will be more likely to answer if categories (a range) are given.
3. When inferring population results from sample data, the process involves some
uncertainty. To deal with this uncertainty, we need to use "probability."
ECO220
Lecture 2
May 10, 2018
2
4. Descriptive Statistics - Graphical Methods
Example 1: Incomes in Guelph
1 = Less than $25,000
2 = $25 - less than $35K
3 = $35 - less than $45K
.
.
.
13 = Over $145,000
Example 2: Market shares of computers
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