Statistics

Representation of Data
Importance of Data (Accounting)
 Financial Analysis
 Compliance

 Budgeting and Forecasting

 Risk Management
 Decision Support
Importance of Data (Marketing)
 Customer Insights
 Personalization

 Return on Investment
 Competitive analysis
 Campaign Optimization
Types of Data (Cntd.)
 Qualitative: Data that can be categorized. They are not
numerical.
For Example: Gender of a person, hometown, colors, types
of fruits, brands, product reviews, customer feedback,

 Quantitative: Data that represents numerical value (how

much, how often, how many).Gives information about the
quantities of a specific thing.
For Example: Height, Length, Size, Weight, Sales amount,
number of website visits,
 Class Work!
 Number of students in the classroom
 Types of fruits in a basket
 Temperature in degrees Celsius
 Ratings of a movie (e.g. 4 stars out of 5)
 Colors of cars in a parking lot
 Ages of students in the class
 Brands of smartphones owned by students
 Opinions on an issue (e.g. agree, disagree, neutral)
Data Collection Methods
 Data needs to be collected for analysis and decision-making
 Survey method: Well-structured questions and random
sampling
 Experiment method: Introduce Experiments as controlled
data collection
 Observational Study: Describe observational studies where
data is collected by observing and recording events or
behaviors
Data Presentation
 Frequency tables: Organize categorical data
 Histograms: Graph of distribution of quantitative data
 Bar charts: used to compare categorical data
 Pie Charts: Displaying parts of a whole
 Scatterplots:Visualize relationship between two
quantitative variables
Histogram
Bar Chart
Pie Chart
Scatter plot
Example 1
Solution 1(a)
Solution 1(b)