Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more ➡
Standard view
Full view
of .
×
0 of .
Results for:
P. 1
Statistics BBBA Assignment (Bus 172)

Statistics BBBA Assignment (Bus 172)

Ratings: 0|Views: 466|Likes:

Availability:

See More
See less

03/26/2011

pdf

text

original

What is Statistics?
It is difficult to define Statistics in a few words since its dimension, scope, function; use &importance are constantly changing over time.Facts & figures about any phenomenon whether it relates to population, production, income,expenditure, sales, birth or death or any other quantitative measures of phenomenon or events arecalled Statistics.

What are statistical methods?
The methods of analyzing statistical data are called statistical methods. There are two methods:

Experimental Method

Observational Method

What is Inferential Statistics?
In inferential statistics, it deals with techniques used for analysis of data, making the estimatesand drawing conclusions from limited information taken on sample basis and testing thereliability of the estimates.It provides the bases for predictions, forecasts, and estimates that are used to transforminformation into knowledge.e.g.;

suppose we want to have an idea about the percentage of illiterates in our country. We takea sample from the population and find the proportion of illiterates in the sample. This sampleproportion with the help of probability enables us to make some assumption about the populationproportion. This study belongs to inferential statistics.

What is Statistical Forecasting?
Statistical forecasting concentrates on using the past to predict the future by identifying trends,patterns and business drives within the data to develop a forecast. This forecast is referred to as astatistical forecast because it uses mathematical formulas to identify the patterns and trends whiletesting the results for mathematical reasonableness and confidence.

What are the major functions of Statistics?
Some of its important functions are given below:

It presents facts in a definite form.

Statistics simplifies mass of figures. It helps in presenting complex data in a suitabletabular, diagrammatic and graphic form for an easy and clear comprehension of the data.

It facilitates comparison.

It helps in formulating and testing hypothesis.

It helps in making decisions.

It helps in the formulation of suitable policies.

What are the scopes of statistics?
Statistics plays a vital role in every fields of human activity. Statistics has important role indetermining the existing position of per capita income, unemployment, population growth rate,
housing, schooling medical facilities etc…in a country. Now statistics holds a central position in
almost every field like Industry, Commerce, Trade, Physics, Chemistry, Economics,Mathem
atics, Biology, Botany, Psychology, Astronomy etc…, so application of statistics is very
wide.

What are the limitations of statistics?
The important limitations of statistics are:1.

Statistics laws are true on average. Statistics are collections of facts. So singleobservation is not a statistics, it deals with groups and aggregates only.

2.

Statistical methods are best applicable on quantitative data.3.

Statistical cannot be applied to assorted data.4.

It sufficient care is not exercised in collecting, analyzing and interpretation the data,statistical results might be misleading.5.

Only a person who has an expert knowledge of statistics can handle statistical dataefficiently.6.

Some errors are possible in statistical decisions. Particularly the inferential statisticsinvolves certain errors. We do not know whether an error has been committed or not.

What is data?
The term
data
refers to groups of information that represent the qualitative or quantitativeattributes of a variable or set of variables.

What are the sources of Data?
The data can be collected from:

i.

Direct field operation such as censusii.

Primary Data:
The primary data are the first hand information collected, compiled and published byorganization for some purpose. They are most original data in character and have not undergoneany sort of statistical treatment.
Example:
Population census reports are primary data because these are collected, complied andpublished by the population census organization.
Secondary Data:
The secondary data are the second hand information which is already collected by someone(organization) for some purpose and are available for the present study. The secondary data arenot pure in character and have undergone some treatment at least once.
Example:
Economics survey of England is secondary data because these are collected by morethan one organization like Bureau of statistics, Board of Revenue, the
Banks etc…

How to design questionnaire?
The steps required to design a questionnaire include:1.

Defining the Objectives of the survey2.

Determining the Sampling Group3.

Writing the Questionnaire
Pretesting a questionnaire
To determine the effectiveness of your survey questionnaire, it is necessary to pretest itbefore actually using it. Pretesting can help you determine the strengths and weaknesses of your survey concerning question format, wording and order.