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ASSIGNMENT
NAME TESHA KUMARI
IMPORTANT USES:
(1) Statistics helps in providing a better understanding and accurate
description of natures phenomena.
LIMITATIONS OF STATISTICS:
(1) Statistics laws are true on average. Statistics are aggregates of facts,
so a single observation is not a statistic. Statistics deal with groups and
aggregates only.
(2) Statistical methods are best applicable to quantitative data.
QNO:3 (a) What do you understand by the term the Statistics? Give its chief
characteristics?
ANSWER: STATISTICS:
CHARACTERISTICS OF STATISTICS:
(1) Statistics should be numerically expressed. For example the statement Rajan is
of height 6' 1" makes the fact clear and easily understandable.
(2) Statistics are aggregates of facts. Statistics means the facts pertaining to a
group of individuals or individual item.
(3) Statistics are affected to a market extent by a multiplicity of causes. There are
a variety of forces or factors operating on the facts and figures in an aggregate.
The influence of any particular factor cannot be isolated.
(4) Statistics must be collected in a systematic manner for a predetermined
purpose. Determination of the main purpose or objectives of any scientific study
is the first and the most important step which in turn paves way for other
operations to follow.
(5) Statistics are enumerated or estimated according to reasonable standards of
accuracy.
(6) Statistics should be placed in relation to each other.
Astronomy: When scientists measured the distance between sun and earth, or moon
and earth, they did not use any measurement scale or ruler for that. It was these
statistical methods that helped them to find out the best answers and estimates that are
possible. It is difficult to measure the mass, size, distance, density of objects in the
universe without any error, but statistics formulas do this with the best probability.
Banking: When someone deposits his money in banks, the idea is that he will not
withdraw the amount in the near future. So, banks lend this money to other customers
to earn profit in the form of interest. They use a statistical approach for this service.
They compare the number of people making deposits against the number of people
requesting loans and at the same time ascertaining the estimated day for the claim.
Natural and Social Science: Almost all fields of science such as biology,
chemistry, physics, etc., use statistical methods for experimenting and analyzing their
results. In biology, it is used in biostatistics, biometrics, which includes investigating
medicines, pharmacy, agriculture, fishery, etc
QNO4: Comment upon the following statement of Sir Ronald Fisher: “Statistics
may be regarded as (i) study of populations (ii) the study of variation and (iii)
the study of the method of reduction of data.
THE STUDY OF VARIATION: It refers to how spread out a group of data is the
common measures of variation are the range IQR, variance and standard
deviation measures of variability are descriptive statistics that can only be used to
describe the data in a given set or study.
ANSWER: Statistical knowledge helps you use the proper methods to collect the
data, employ the correct analysis, and effectively present the results. Statistics is a
crucial process behind how we make discoveries in science, make decisions based
on data and make predictions. It is mostly used to keep records, calculate
probabilities and provide knowledge. Basically it helps us understand the world a
little bit better through numbers and other quantitative information.
QNO6: Explain the difference between the following:
ANSWER:
STATISTICS STATISTIC
It deals with the process of data A number that describes a
collection, interpretation and sample characteristics and
presentation of data. represents a property of the
It deals with quantitative or sample.
numerical data. Any statistic measure computed
from sample data is known as
Statistic.
POPULATION SAMPLE
The collection of all outcomes, A subset of the population.
measurement or courts that are The measurable quantity is called
of interest. a sample.
The measurable quality is called a It is a subset that represents the
parameter. entire population.
It contains all members of a
specified group.
Primary data is the type of data Secondary data is the data that
that is collected by researchers has already been collected
directly from main sources. through primary sources.
Primary data can be collected Secondary data are collected
using surveys and questionnaires. using the library, bots, etc.
x)The number of shares sold each day in the stock market. Discrete variable
QNO11: Classify each as nominal –level, ordinal level, internal level or ratio-
level measurement.
Qno12: Round off the following continuous data to four significant digits each.
ANSWER: “Primary data” Data have been originally collected (raw data) and have
not undergone any sort of statistical treatment, are called primary data. While
data have been undergone any sort of treatment by statistical treatment by
statistical method at least once, i.e.
“Secondary data” The data have been collected classified, tabulated or presented
in some .form for a certain purpose, are called secondary data.
(a) To define the objective of the survey.
(b) Describe the method which can be used in the collection of statistical data,
stating the advantages and didadvantages of each method.
Time Series Analysis: The term time series refers to a sequential order of
values of a variable, known as a trend, at equal time intervals. Using patterns, an
organization can predict the demand for its products and services for the
projected time.
Surveys: Surveys are used to collect data from the target audience and gather
insights into their preferences, opinions, choices, and feedback related to their
products and services. Most survey software often a wide range of question types
to select.
You can also use a ready-made survey template to save on time and effort. Online
surveys can be customized as per the business’s brand by changing the theme,
logo, etc. They can be distributed through several distribution channels such as
email, website, offline app, QR code, social media, etc. Depending on the type and
source of your audience, you can select the channel.
Once the data is collected, survey software can generate various reports and run
analytics algorithms to discover hidden insights. A survey dashboard can give you
the statistics related to response rate, completion rate, filters based on
demographics, export and sharing options, etc. You can maximize the effort spent
on online data collection by integrating survey builder with third-party apps.
Polls: Polls comprise of one single or multiple choice question. When it is
required to have a quick pulse of the audience’s sentiments, you can go for polls.
Because they are short in length, it is easier to get responses from the people.
Similar to surveys, online polls, too, can be embedded into various platforms.
Once the respondents answer the question, they can also be shown how they
stand compared to others’ responses.
Secondary Data Collection Methods: Secondary data is the data that has
been used in the past. The researcher can obtain data from the sources, both
internal and external, to the organization.
Government reports
Press releases
Business journals
Libraries
Internet
The secondary data collection methods, too, can involve both quantitative and
qualitative techniques. Secondary data is easily available and hence, less time-
consuming and expensive as compared to the primary data. However, with the
secondary data collection methods, the authenticity of the data gathered cannot
be verified.