STUDENT

Daybie C. Roque

STATISTICS
 Statistics is a branch of mathematics as well as a scientific
discipline that deals with data collection, analysis, interpretation,
and presentation. It refers to a set of techniques and methods for
summarizing, organizing, and drawing meaningful conclusions
from data derived from various sources.

Business statistics refers to the use of different data analysis

tools from statistics and applying those in a business setting.
Statistics, at its core, involves the following key
concepts:

• Data collection
• Data Analysis
• Interpretation
• Presention
• Decision making
Data collection
Statistics begin with the collection of data, which can take the form of
numbers, observations, or measurements. Surveys, experiments,
observations, and other methods can be used to collect this information.
Interpretation
Statistical results are interpreted in order to extract meaningful insights and
draw conclusions. This frequently entails identifying patterns, trends, and
relationships and drawing conclusions about the underlying population or
phenomenon.
Data Analysis
After data has been gathered, it is analyzed and processed using statistical
techniques. This includes figuring out inferential statistics, which are used to
predict or draw conclusions about a larger population based on a sample, as
well as descriptive statistics like mean, median, and standard deviation.
Presention
To effectively communicate the results of statistical analysis, the findings are
typically presented in various forms of graphical representations, such as charts,
graphs, and tables, as well as in written reports.
Decision making
Statistics, by providing evidence, identifying trends, and quantifying uncertainty,
serves as a foundation for decision-making in a variety of fields. It assists in
making informed decisions, assessing risks, and assessing the effectiveness of
interventions or policies.
Statistics, in essence, is a powerful tool for
exploring, summarizing, and making sense of
data, allowing individuals and organizations to
make informed decisions and gain valuable
insights into the world around us.
KINDS OF STATISTICS
Descriptive Statistics:
Descriptive stats help us understand data by summarizing it. They include things like finding the
average, middle, and spread of numbers in a dataset.
Example: You have a class of 20 students, and you want to know how well they did on their last math
test.
 Mean (Average): You can find the mean descriptor by adding the numbers in the group and
dividing the result by the number of data set observations.
You add up all their scores and divide by the number of students. If their scores add up to 400, the
mean score is 400 divided by 20, which is 20.
 Median (Middle Score): The middle number in the set is the median. Half of all included numbers
are higher than the median and half are lesser.
You arrange the scores from lowest to highest and find the one in the middle. If the middle score is
19, that's the median.
 Mode (Most Common Score): Mode identifies the number that falls between the highest and
lowest values. It appears most frequently in the data set.
You figure out which score appears the most. If 20 appears the most times, it's the mode.
 Range (Spread of Scores): Subtract the lowest score from the highest score. If the lowest is 15,
and the highest is 25, the range is 25 - 15 = 10.
Inferential Statistics:
Inferential stats help make educated guesses about larger groups based on smaller samples.
Think of it as drawing conclusions from limited information.
Example: Now, you want to make a guess about how the entire school might perform on a
similar math test based on your class's results.
• Hypothesis Testing: You make an educated guess (hypothesis) about the school's
average score. Let's say you guess it's 18.
• Collect Data: You collect scores from a random sample of students from other classes.
• Compare with Hypothesis: You compare the new data to your guess using a statistical
test. If the new data shows an average score significantly different from 18, you can
conclude that your guess was likely wrong.
 In simpler terms, descriptive statistics help you understand data by summarizing it (like
finding averages and spreads), while inferential statistics help you make educated guesses
about larger groups based on smaller samples (like guessing how the whole school might
do on a test based on your class's performance).

Descriptive statistics are like looking at a snapshot of your class's test scores, while
inferential statistics are like using that snapshot to make predictions about the whole
school's test scores.
Reference:
 https://www.pearsonhighered.com/assets/samplechapter/0/2/7/3/0273743872.pdf

 https://statistics.laerd.com/statistical-guides/descriptive-inferential-statistics.php
Thank you
for listening!