POK STATS BLOG

Module #2 introduces students to some common math procedures including percentages, decimals, ratios, and index numbers. This chapter and module looks at the importance of variable measurement-- including concepts such as the unit of analysis  and level of measurement. Goals/Objectives understand commonly reported statistics and connect them to the basic math used in statistics (including percentages, decimals, ratios, and index numbers) understand major indices such as CPI and be able to apply such indices to understand changes in goods such as tuition, salary, etc. be able to identify and correctly determine the level of measurement of variables and the unit of measurement of variables Assigned Readings & PPT Bennett, Chapter 2: Measurement in Statistics Telling the Truth about Damned Lies & Statistics Chapter 2: Measurement in Statistics ppt Handouts and Extras CPI calculator Possible activity: Track Investment Stocks and Portfolio Assignment(s) Heal...

One semester, I tried tracking a classroom "investment portfolio" as a means of keeping students interested in statistics. relates to data visualizations ideas of risk using standard deviation compared their own portfolio's performance to benchmark indexes such as NASDAQ, SP500, and Dow Jones introduces students to investments  After looking around a bit, I decided to create an account in  SigFig  for each class. My Assessment of the Assignment: Overall, the assignment was interesting for most students. works best if we check in regularly to see how the class portfolio is performing compared to indices-- students got a kick out of seeing their portfolio out-perform the indices assign a reading of standard deviation as a measure of risk assign a reading about alpha and beta

Here's a link to the Bureau of Labor Statistics CPI calculator:  http://www.bls.gov/data/inflation_calculator.htm You may also want to consider this article and the accompanying graphic: A Rough Ten Years for the Middle Class graphic from US Census Bureau via CNN Money Middle-class income fell 7% in the last decade, adjusted for inflation. So are you better off than your parents? Homework Suggestion: Go home and ask a parent what year it was when he/she was 25 years old. Next, ask what he/she earned during that year. Use the CPI calculator to see how much you would have to earn to have the same buying power as your parent when he/she was 25 years old.