Transcription of STATISTICS FOR ECONOMISTS: A BEGINNING
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STATISTICS FOR ECONOMISTS: A BEGINNING
STATISTICS FOR ECONOMISTS: A BEGINNINGJohn E. FloydUniversity of TorontoJuly 2, 2010 PREFACEThe pages that follow contain the material presented in my introductoryquantitative methods in economics class at the University of Toronto. Theyare designed to be used along with any reasonable STATISTICS textbook. Themost recent textbook for the course was James T. McClave, P. George Ben-son and Terry Sincich, STATISTICS for Business and Economics, Eighth Edi-tion, Prentice Hall, 2001. The material draws upon earlier editions of thatbook as well as upon John Neter, William Wasserman and G. A. Whitmore,Applied STATISTICS , Fourth Edition, Allyn and Bacon, 1993, which was usedpreviously and is now out of print. It is also consistent with Gerald Kellerand Brian Warrack, STATISTICS for Management and Economics, Fifth Edi-tion, Duxbury, 2000, which is the textbook used recently on the St. GeorgeCampus of the University of Toronto. The problems at the ends of the chap-ters are questions from mid-term and final exams at both the St.
Chapter 1 Introduction to Statistics, Data and Statistical Thinking 1.1 What is Statistics? In common usage people think of statistics as numerical data—the unem-
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