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Chapter 1 BA

The document provides an introduction to a course on business analytics, covering topics such as data analysis, statistics, variables (both categorical and quantitative), and how to explore data. It was presented by Amber Batwara, an assistant professor in the department of Logistics and Supply Chain Management. The course code is LOGI 403 and focuses on making sense of data through examining variables and distributions.

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amber.batwara
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14 views10 pages

Chapter 1 BA

The document provides an introduction to a course on business analytics, covering topics such as data analysis, statistics, variables (both categorical and quantitative), and how to explore data. It was presented by Amber Batwara, an assistant professor in the department of Logistics and Supply Chain Management. The course code is LOGI 403 and focuses on making sense of data through examining variables and distributions.

Uploaded by

amber.batwara
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Chapter -1

Introduction to Chapter Contents- Course Name- Business


Analytics
-Statistics Variables, categorical
Data Analysis: and quantitative variables Course Code-LOGI 403
Making Sense -Distribution
-How to Explore the Data
of Data
Presented by
Amber Batwara
(Assistant Professor)

Logistics and Supply Chain Management


What is a variable?
• Researchers and statisticians use variables to describe and measure the
items, places, people or ideas they're studying. Many types of variables
exist, and it must choose the right variable to measure when designing
studies, selecting tests and interpreting results. A strong understanding
of variables can lead to more accurate statistical analyses and results.
• A variable is any kind of attribute or characteristic that is trying to
measure, manipulate and control in statistics and research. All studies
analyze a variable, which can describe a person, place, thing or idea. A
variable's value can change between groups or over time.
• For example, if the variable in an experiment is a person's eye color, its
value can change from brown to blue to green from person to person.
Quantitative vs categorical variables
A variable that contains quantitative data is a quantitative variable; a variable
that contains categorical data is a categorical variable. Each of these types of
variables can be broken down into further types.
Quantitative variables

• When you collect quantitative data, the numbers you record represent real
amounts that can be added, subtracted, divided, etc. There are two types of
quantitative variables: discrete and continuous.
Categorical variables

• Categorical variables represent groupings of some kind. They are sometimes


recorded as numbers, but the numbers represent categories rather than
actual amounts of things.
• There are three types of categorical variables: binary, nominal, and ordinal
variables.
Highlights

Discrete: Any numerical variables you can realistically count, such as the coins in your wallet or
the money in your savings account.
Continuous: Numerical variables that you could never finish counting, such as time.
Binary: Variables with only two categories, such as male or female, red or blue.
Nominal: Variables you can organize in more than two categories that do not follow a
particular order. Take, for example, housing types: Single-family home, tiny home .
Ordinal: Variables you can organize in more than two categories that follow a particular order.
Take, for example, level of satisfaction: Unsatisfied, neutral, satisfied

*Note that sometimes a variable can work as more than one type! An ordinal variable can also
be used as a quantitative variable if the scale is numeric and doesn’t need to be kept as
discrete integers. For example, star ratings on product reviews are ordinal (1 to 5 stars), but
the average star rating is quantitative.
Exercise

• The number of appointments a team member schedules per day


• The number of employees who miss work each week
• The daily temperature of a refrigerator
• The daily wind speed
• The weights of newborn babies at a hospital
• The number of phones a company sells per day
Independent vs. dependent variables
Independent vs. dependent variables-Example
• Below is an example of using independent and dependent variables in an academic study:
• An educator is interested in determining the effect of increased study time on the academic
performance of students. They conduct a survey of students at their university which asks
students about the number of hours they spend studying for a class, and the grades they
received in the class.
• After compiling the data, the teacher discovers there's a direct correlation between the
hours studied and the grades earned. They additionally note that the correlation is
nonlinear, with a slow improvement of scores in the beginning followed by a steady increase
until a high number of hours, at which point improvement slows again when the student
reaches a knowledge level that creates diminishing returns on studying. Here's what the
teacher determines:
•• The number of hours the student studies is the independent variable because nothing
directly affects the number of study hours.
•• The grade the student earns in the class is the dependent variable because how much
time the student commits to preparing can affect the grade.
Control and Composite Variables

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