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Chapter 8

FIN501 Chapter 8: Lecture 8.docx

Course Code
FIN 501
C A N' T R E M E M B E R

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How Can We Question Analysis
Part One
Here Come the Numbers
What it means to be a “stats person”
Numbers don’t need to be scary
Use logic, be thoughtful
Using Logic & Being Thoughtful
Numbers are used to answer questions
oQuestions can be research question
oQuestion can be hypothesis
Do the numbers match the question?
Research question: do men smoke more than women?
Sample: 20 men + 30 women
Reported: 10 men + 15 women
Reality: 50% men + 50% women
What are Descriptive Statistics?
Descriptive statistics vs. inferential statistics
Descriptive: describing patterns
Inferential: inferring causality
Descriptive: “20% of men smoke”
Inferential: “being male is positively is associated with smoking, even when
controlling for other factors”
How to Question Descriptive Statistics
Absolute value versus percent value
Absolute: raw Number
Percent: Percent of Raw Number
Other Things to Watch For
Total number of participants
Number of Participants described
Reported in the text
Or, reported in the table has the “N value
Scale of presentation(pgs 76 & 77)
In Sum
Numbers don’t need to be scary
Remember, numbers represent ideas
Descriptive statistics: make sure the numbers accurately describe the ideas