Statistics

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Statistics

© All Rights Reserved

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Meaning

Statistics is the study of the collection, analysis,

Data: A collection of observations of one or more

variables of interest.

It summarize and describe information more precisely

to understand the process at a glance

Capture a populations characteristics by making

inferences from a samples characteristic.

Understand the nature of relationship between pair of

variables in a process to improve its functioning.

Make reliable forecasts of certain events of interest.

Topics to be covered......

Introduction to Statistics and Data Collection

Summarizing and Presenting Statistical Data

Measures of Central Tendency

Measures of Dispersion

Measures of Skewness, Kurtosis and moments

Fundamentals of Probability

Probability Distributions

Sampling and Sampling Distributions

Hypothesis Testing

Analysis Variance

Correlation Analysis

Regression Analysis

Basic Calculus

Definition

The classified facts representing the conditions of the people

numbers or in tables of numbers or in any tabular or classified

arrangement. (Webster)

Statistics is the science which deals with the methods of

numerical data collected to throw some light on any sphere of

enquiry. (Seligman)

multiplicity of causes, numerically expressed, enumerated or

estimated to reasonable standard of accuracy, collected in a

systematic manner for a pre-determined purpose and place

in relation to each other.

It consists of aggregate of facts

It is liable to be affected to a marked extent by multiplicity of

causes

It should be numerically expressed

It should be capable of being either numerated or estimated

It should be capable of being either numerated or estimated

It should be collected in a systematic manner

It should be collected for pre-determined purpose

It should be capable of being placed in relation to each other

Statistics and Business

Statistics and Economics

Statistics and State

Statistics in Physical Science

Statistics in Social Sciences

Statistics in medical Sciences

Statistics and Computers

According to Ya-Lin-Chou Statistics is a method of

numerical data and calculated risks

Statistical reports provide a summary of business activities

which improves the decision makings in future. Certain

activities where statistics plays an important role are

discussed below.

Marketing

Production

Finance

Personnel

Statistical methods, broadly classified into two categories

Descriptive Statistics

Inferential Statistics

Descriptive Statistics includes statistical methods that are

and shape of the data.

Thus, these methods are helpful as preliminary tools to

describe the various features of data.

In general, methods of descriptive statistics include graphic

methods and numeric measures

Bar charts, line charts and pie charts comprise graphic

methods, whereas numeric measures include measures of

central tendency, dispersion, skewness and Kurtosis.

Inferential statistics

Inferential statistics includes statistical methods

characteristics on the basis of sample results and

testing of statistical hypothesis.

The inferential statistics comprise those tools

from the data set. This include estimation and

hypothesis estimation

A population refers to entire set of elements being studied.

Sample is a subset (portion) of the population.

Descriptive numerical measures like an average or a

called parameters, when such measures, when calculated

from a sample data, are termed as statistics.

Population refers to the collection of all elements in which

we are interested while a sample is a subset of the

population

The characteristics of a population are called parameters

while the characteristics of a sample are termed as

statistics.

Limitations of Statistics

Qualitative data:

Statistics can be used effectively to study only those

Its study about aggregate behaviour

Statistics can be misused

Statistics results are true only on an average

Sources of Data

Data sources are classified as

Primary Sources

Secondary Sources

were collected by some other agency.

Data originally collected for an investigation are known as

generated in large number of surveys conducted mostly by

Government and also by some individuals, institutions and

research bodies.

survey being conducted by him (them). It is the data that

will normally be referred when we talk about collecting

data.

Data which are not originally collected rather obtained

secondary data.

secondary data refers to any data collected by a person or

organization other than the user(s) of the data and this data

will be provided to actual users and researchers.

Direct personal Interviews

Indirect oral interviews

Information from correspondents

Mailed questionnaire method

Schedules sent through enumerators

Direct

In thispersonal

method, Interviews

there is a face to face contact with the

person from whom the information is to be obtained. The

interviewer asks them questions pertaining to the surveys

and collects the desired observations.

Example: If a person wants to collect information about the

workers in a Industry, he would go to the industry, contact

the workers and obtain the desired information.

Responses are more encouraging as most people are willing

to supply information when approach personally.

Under this method of collecting data, the investigator contacts

third parties or witness capable of supplying the necessary

information.

This method is generally adopted where the information to be

obtained is of complex nature and the informants are not inclined

to respond if approached directly.

Information from Correspondents

In this method, the investigator appoints local agents or

These correspondents collect and transmit the information to the

central office where the data are processed.

Newspaper agencies generally adopt this method

Under this method, a list of questions pertaining to the survey (known as questionnaire)

is prepared and sent to the various informants by post.

The questionnaire contains questions and provides space for answers.

A request is made to the informants through a covering letter to fill up the questionnaire

and send it back within a specified time .

The essential difference between the mailed questionnaire method and this method is that

whereas in the former the questionnaire is sent to the informants by post, in the latter the

interviewers carry the schedule personally to the informants.

Secondary

collected earlier for some purpose other than the analysis

currently undertaken.

External Secondary Sources:

Government Publications

Non-Government Publications include publications of

various industrial and trade association

Various syndicate services such as Operations Research

Group (ORG). The Indian Market Research Bureau

(IMRB) also collects and tabulates abundant marketing

information to suit the requirement of individuals firms,

making the same available at regular intervals

follows

The International Labour organisation (ILO) which publishes

unemployment, wages and consumer prices.

The

Organisation for Economics Cooperation and

Development (OECD) which publishes data on foreign trade,

industry, food, transport, and science and technology

The International Monetary Fund (IMF) which publishers

reports on national and international foreign exchange

regulations and other trade barriers, foreign trade, and

economic developments

The data generated within an organisation in the process

secondary data.

Financial accounts, production, quality control and sales

Classification of Data

Arranging the raw data in groups/classes on the basis of

The classification of statistical data is helpful in

Condensing the raw data in some compact and orderly form

suitable for statistical analysis

Revealing the pattern of variations and highlights the

characteristics of any variable present in India.

Facilitating comparison and drawing inferences from the

data.

Providing information about the relationship among

Statistical analysis to reveal

features of elements in the data

characteristics/silent

Basis of Calculation

Geographical Classification:

Chronological Classification:

Qualitative Classification:

Quantitative Classification:

Variable

A variable may be defined as a characteristic which

places e.g. marks, age, height etc. This again, can be of

two types i.e., (i) Discrete variable, (ii) Continuous

variable.

Discrete variable: A discrete variable is one which

always takes an integral values viz: 10, 15, 20, 12, 18 etc.

and can never assume any fractional value such as,

10.7, 19.33, etc.

These variables are characterized by discontinuity or

jumps and gaps between each other.

integral and-. fractional nature within a specified range of

numbers. Such values are characterized by continuity and

are capable of passing from any given value to the next

value by infinitely small gradation. The examples of such

variables are age, height, weight, marks etc. which can

assume any value within a specified range.

Frequency Distribution

A frequency distribution refers to data classified on the

prices, wages, age, number of units produced or

consumed.

More precisely, A frequency distribution or frequency

table is simply a table in which the data are grouped into

classes and the number of cases which fall in each class

are recorded. The numbers in each class are referred to as

frequencies hence frequency distribution.

Discrete Frequency Distribution

Continuous Frequency Distribution

Discrete

Frequency

Distribution

repeated which is called the frequency of that class.

Step 2: In order to facilitate counting prepare a column of

tallies

Step 3: In another column, place all possible values from

the lowest to highest.

Step 4: To facilitate counting, blocks of five bars are

prepared and some space is left in between each block .

Finally count the number of bars corresponding to each

value of the variable and place it in the column entitled

frequency.

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