A Simulation of Sample Variance Calculation in the Teaching of Business Statistics to English Majors

Shili Ge, Rou Yang and Xiaoxiao Chen ()
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Shili Ge: School of English for International Business, Guangdong University of Foreign Studies
Rou Yang: School of Interpreting and Translation Studies, Guangdong University of Foreign Studies
Xiaoxiao Chen: School of English for International Business, Guangdong University of Foreign Studies

Chapter Chapter 40 in Recent Developments in Data Science and Business Analytics, 2018, pp 361-366 from Springer

Abstract: Abstract Variance is important for statistical description of a data set. Yet, the denominator of (n–1) in sample variance calculation confuses many Business English learners of statistics. In order to give learners an impressive instruction, a statistical simulation of population and sample variance calculation is designed with self-code Python program. The experimental simulation shows that the sample variances calculated with divisor of (n–1) are averagely closer to population variance than with n. The latter underestimates the population variance. The simulation offers an important explanation for statistics learners and can help them learn business statistics better.

Keywords: Business statistics; Business English; Sample variance; Statistical simulation (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-319-72745-5_40

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DOI: 10.1007/978-3-319-72745-5_40

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