ECON 2300  Business Statistics  Online
Entire PlaylistLecture Notes
Video Nr.  Topics Covered  

001  Course Overview  
Topic 01: What is Business Statistics?  
002  Objectives What is Business Statistics? Kinds of Variables Population and Samples Descriptive and Inferential Statistics 
Problem Set 1
Solution 
Topic 02: Tabular and Graphical Descriptive Statistics of Categorical Data  
003  Objectives Example 
Problem Set 2
Solution 
004  Examples of Graphical Illustrations  
005  Cross Tabs  
Topic 03: Tabular and Graphical Descriptive Statistics of Quantitative Data  
006  Objectives Histogram 
Problem Set 3
Solution 
007  Histogram Example  
008  Stem and Leaf Plot Example  
009  Stem and Leaf Plot “Criminology”  
010  Shapes of Distributions  
011  Scatter Plots  
Topic 04: Numeric Descriptive Statistics of Central Tendency  
012  Objectives Population Parameters and Sample Statistics The Arithmetic Mean The Geometric Mean The Arithmetic vs. Geometric Mean – Example Median Percentiles 
Problem Set 4
Solution 
013  Mode
Example: Arithmetic Mean, Median Mode, and Percentile Measures of Central Tendency to Describe Shapes of Distributions When to best use the mean, mode, or median to describe data? 

Topic 05: Numerical Descriptive Statistics of Dispersion  
014  Objectives
Range Variance Standard Deviation Example: Variance and Standard Deviation 
Problem Set 5
Solution 
015  Why dividing by (n1) when we calculate the sample standard deviation?  
016  The Coefficient of Variation
The Interquartile Range (IQR) When to Best use the Range, Variance, Standard Deviation, and IQR? 

017  Box and Whisker Plot  
018 
Covariance and Correlation Coefficient
Calculating Covariance and Correlation Matrix – Numerical Example 

019 
Chebychev’s Theorem
The Empirical Rule of Normally Distributed Population 

Topic 06: Probability  
020 
Objectives
Approaches to Probability Mutually and NonMutually Exclusive Events Independent and Dependent Events Complements Probability Rules 
Problem Set 6
Solution 
021  Examples  
022  Independence Tests – Independent Events Example  
023  Independence Tests – Dependent Events Example  
024  Bayes Theorem  
025  Bayes Theorem Example I  
026  Bayes Theorem Example II  
027 
Combinations
Permutations Combinations vs. Permutations Compared 

028  Explaining the Odds of Winning the Lottery  
Topic 07: Discrete Probability Distributions  
029 
Objectives
Discrete vs. Continuous Random Variables Describing a Discrete Random Variable 
Problem Set 7
Solution 
030 
The Binomial Distribution  The Bernoulli Process
The Binomial Distribution – Formula 

031 
The Binomial Distribution – An Example
The Cumulative Binomial Distribution The Cumulative Binomial Distribution Table Probability and Cumulative Probability Density Functions 

032 
Mean, Variance, Standard Deviation of Binomial Distribution
The Poisson Distribution The Poisson Distribution – Example 

Topic 08: Continuous Probability Distribution  
033 
Objectives
Continuous vs. Discrete Probability Distributions The Uniform Distribution The Normal Distribution 
Problem Set 8
Solution 
034 
The zTable
Working with the Standard Normal Distribution – Example 

Topic 09: Sampling and Sampling Distributions  
035 
Objectives
What is sampling? The Phenomenon to be Uncovered – The Central Limit Theorem 
Problem Set 9
Solution 
036  The Sampling Distribution of the Sample Means  
037 
The Student tDistribution
Degrees of Freedom 

038  The Student tDistribution and his Father
So When to Use What? Example 

039  Using the Standard Normal to Approximate the Binomial  
Topic 10: Confidence Intervals  
040 
Objectives
The Basic Idea The Formula for the Confidence Interval and Graphical Illustration 
Problem Set 10
Solution 
041  Typical Example  
042 
Using z instead of tscores
Example: Confidence Interval using z scores 

Topic 11: Hypothesis Tests  
043 
Objectives
The Basic Idea Stating a Scientific Hypothesis Again: z or tTable? The Meaning of a=x% and Rejecting and Failing to Reject a Null Hypothesis 
Problem Set 11
Solution 
044  Type I and Type II Error  
045  Steps in Conducting a Hypothesis Test 