Stats
Data?
Decision Making Framework (DFM)
tactical
ops
intro
jigsaw
DSS
maths/stats - multivariate tools
company is a sum of decisions that it makes
gives me useful information and helps me in making decisions
Types
80-85% decisions are right
Strategic
click to edit
don't waste resource in dealing with garbage
qualitative
quantitative
Types
nominal
ordinal
interval
ratio
eg - names. it is a tag
logic / order/sequence
gives a comparison but not an absolute comparison of ratios
range. eg -time. but also does not give ratio
click to edit
u can - but not * or /
Likart Scaling to capture emotions numerically
feedback in restaurants
can normalize also
xi = variable and suffix
mean = sumation xi /
central dependency talks about multi variety and dispersion talks about individuality. If we only work with mean, we can miss out individuality
Dispersion
range family
deviation family
click to edit
formulas
randbetween
rand
frequency
dusseldorf and stuttgart eg
predictably irrational
framing questions is like priming
Blink by Gladwell
noninvasive vs invasive - garbage insights
sitecatalyst
comb the data based on categorization
discrete vs continuous var -grasshopper and ant
in real number line, it hops , may not be integer
1.29 to 3.27
conti - ant - crawls-it touches all data points
age is a continuous var.
income is also continuous
no of employees - deiscrete -positie rational integers
bin array - vertical stacked trays in office
UCB
real life situation - class representative
mean is the only measure of central tendency. It is amenable to further analysis. Median and mode are not
median is another concept used in partitioning
The Outliers
SEBI committee gives artifical weight based on 73 parameters. Multiply by Free cash flow.
Indexation, Dow Jones was indexed 3 times
Absolute weight is not important, relative is important. Nifty
relative freq or probability distribution
freq allows to move towards stochastic or predictive analytics