Introduction to Statistics for Economics

Introduction to Statistics for
Economics

Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
1. Summarizing the characteristics of the survey respondent......................................................1
2. Summarizing the distribution of the BORA_Country, BORA_UK and BORA_non_UK,
figures..........................................................................................................................................4
3. One-way ANOVA...................................................................................................................6
4. Independent samples t-test.......................................................................................................6
5. Independent samples t-test.......................................................................................................8
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Statistics for economics is a concept of applied statistics which is concerned with collection
and analysing the economic data in order to gain descriptive and econometric results (Gentle,
Härdle and Mori, 2012). The main aim of developing this present report is to gain knowledge of
statistical application by computing descriptive statistics along with inferential statistics. In this
report, a case of BORA (Brand origin recognition accuracy) is provided which is analysed using
the software application of SPSS. In this report, descriptive statistics tools of mean, median,
mode, minimum etc. are used to summarise the characteristics of the survey respondents and
their responses. In this report, inferential statistics such as ANOVA and independent samples t-
test are used to test the hypothesis of data information of the BORA dataset.
MAIN BODY
1. Summarizing the characteristics of the survey respondent
The data set of BORA represents the data gathered from 100 respondents. This data set has
three variables that represents the demographics of all the respondents. These variables of
demographics are the base to summarise the characteristics of the survey respondent. Using the
statistical software application of SPSS (McClave and et.al., 2014), descriptive statistics of three
variables which are Gender, Age and Education Level are calculated using the tools including
mean, mode, median, standard deviation, minimum and maximum. A tabular and graphical
representation of the results are attached below:
1