CHAPTER 1: What is statistics?

The Importance of
Statistics for
Marketing, Tourism,
Business and
Economics…etc.
 Marketing research produces
evidence based information for
market expansion or product
introduction…etc.
Data - Statistics
So what is Statistics?
36% of adults aged
25 and older have
at least a bachelor’s
In 1995 there were 926,621
degree. bankruptcy filings, while in
2005 there were 2,078,415
bankruptcy filings.

The average in-state

college tuition fees for
4-year public college is
$5836. Toddlers need an
average of 13 hours
of sleep per day.

(Bluman, 2009) 4
 The art of telling a story with [numerical] data.
(Hahn and Doganaksoy, 2012)

Some The science of conducting studies to collect,

Definitions organize, summarize, analyze and draw
conclusion from the data. (Bluman, 2009)

The methodology which scientists and

mathematicians have developed for
interpreting and drawing conclusions from
collected data. (Isotalo, Jarkko. Basic of Statistics)

5
Then why study statistics?
• As you are in a university, you are aware that the subject of
statistics is required for many college programs.

• Why is this so? What are the differences in the statistics courses
taught in the tourism, business or marketing department?

• So what have you concluded about the difference from one class to
another?
You might note that
• The biggest difference is the examples used. The course content is
basically the same.
• The typical value and how much variation in the data is commonly
discussed
For example: In Tourism class, they may talk about
• Number of tourists arrived yesterday
• Percentage change of tourist arrivals in 2019 and 2020
In Marketing class, they may talk about
• Average sale in all branches, different size of eggs for different price
So there are
some
reasons
• The need of
numerical
information is
everywhere for
every professional
Statistical techniques are used to make decisions that affect our daily
lives.

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The knowledge of statistical methods will help you understand how decisions are
made. For example: A survey of sample of 20 villagers found that 20% of them
voted for road repair priority and so it is estimated that from 60% – 80% of
commune population support the road repair plan. (Photo: CEDT)
 So it is important due to the statistical
methods
In order to make an Informed decision, you will need to be able to:
1. Determine whether the existing information is adequate or
additional information is required.
2. Gather additional information, if it is needed, in such a way that it
does not provide misleading results.
3. Summarize the information in a useful and informative manner.
4. Analyze the available information.
5. Draw conclusions and make inferences while assessing the risk of
an incorrect conclusion.
 Let’s looks at some practice on data
presented in:
Marketing briefs Research briefs
• Number • Number
• Graphs • Graphs
• Illustration • Illustration
• Percentage • Percentage
• Average • Average
• Aggregate data • Disaggregate data
Thank you