ACCT 4550 Lecture Notes - Lecture 3: Skewness, Data Analysis, Color Gradient
Document Summary
Doing a ratio calculation with a balance sheet number, use an average if you can. =averagea includes numbers and words, counts text as a 0. Use two cells to find the mode if there are more than one mode. Geometric mean: if all the quantities had the same value, what would that value have to be in order to achieve the same product? (growth factor projections) Data are the facts and figures collected, analyzed, and summarized for presentation and interpretation. Variable: characteristic or quantity of interest that can take on different values. Observation: set of values corresponding to a set of variables. Descriptive statistics: collect and analyze data to gain a better understanding of variation and its impact on the business setting. Under direct control of the decision maker (decision variables) Random/uncertain variables have values of quantity which are unknown. Surveys are the most popular type of observational study. Negative values are shown to the left of the axis.
