§2QuantitativeMethodsForDecisionMakers02章节幻灯片.pptVIP

Quantitative Methods For Decision Makers3rd Edition Chapter 2 TOOLS OF THE TRADE Learning Objectives By the end of this chapter you should be able to: deal with fractions, percentages and proportions Understand the principles of rounding and significant figures Understand common mathematical notation Understand and be able to use mathematical symbols and simple equations Construct and use simple graphs Understand what is meant by the term ‘real’ value Some basic terminology Variables The term variable refers to the characteristic we are investigating or analyzing. Discrete: take certain fixed numerical values. Continuous: can take any numerical values. Attribute: is not normally expressed in numerical terms. Types of Data Data Attribute Categorical Numerical Discrete Continuous Examples: Marital Status Political Party Eye Color (Defined categories) Examples: Number of Children Defects per hour (Counted items) Examples: Weight Voltage (Measured characteristics) Some basic terminology Primary data relates to that which has been collected at first hand and which has been collected for the purposes of analysis which is then undertaken. Secondary data relates to data which has been collected for some purpose other than the analysis currently being undertaken. Collecting Data Secondary Sources Data Compilation Observation Experimentation Print or Electronic Survey Primary Sources Data Collection Fractions proportions percentages Fractions are simply a way of expressing amounts which are, literally, less than one. Fraction:? proportion: 0.5 Percentage:50% (multiply a proportion by 100) Rounding and significant figures Make numbers easier to understand and use. First determine how many significant figures require when round numbers. Significant figures is the number of digits in the number that are precise and accurate. Common notation Symbols D=Y-T Arithmetic operators and symbols ＜ ＞ ≤ ≥ ≠ Powers and roots 35 read as thre