Lecture 1 2 Slides Introduction To Statistics

Statistics and Inferences
Lecture 1
Introduction to Statistics
KARACHI INSTITUTE OF
01/03/2024 ECONOMICS AND TECHNOLOGY 1
Marks Distribution
• Quizzes = 10 marks
• Assignments = 10 marks
• Midterm = 30 Marks
• Final = 50 marks
01/03/2024 KARACHI INSTITUTE OF ECONOMICS AND T 2

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Topics: Introduction to Statistics
1. Basic Terms of Statistics

2. Applications of Statistics in Real World
3. Frequency Distribution for Quantitative Data
4. Practice Problems

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Statistics is the science of conducting studies to collect,
organize, summarize, analyze, and draw conclusions from
data.
Applications:
• Like professional people, you must be able to read and
understand the various statistical studies performed in your
fields.
• To have this understanding, you must be knowledgeable

about the vocabulary, symbols, concepts, and statistical
procedures used in these studies

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A variable is a characteristic or attribute that can assume
different values.
Data are the values (measurements or observations) that

the variables can assume.
Variables whose values are determined by chance are
called random variables.
A collection of data values forms a data set. Each value

in the data set is called a data value or a datum.
A population consists of all subjects (human or otherwise)
that are being studied.
A sample is a group of subjects selected from a population.

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Data can be used in different ways. The body of
knowledge called statistics is sometimes divided into two
main areas, depending on how data are used. The two
areas are as follows:
1. Descriptive statistics consists of the collection,
organization, summarization, and presentation of data
2. Inferential statistics consists of generalizing from

samples to populations, performing estimations and
hypothesis tests, determining relationships among
variables, and making predictions.

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Variables can be classified as qualitative or quantitative.
Qualitative variables are variables that can be placed into
distinct categories, according to some characteristic or
attribute. For example, if subjects are classified according to
gender (male or female), then the variable gender is
qualitative.
Quantitative variables are numerical and can be ordered or
ranked. For example, the variable age is numerical, and
people can be ranked in order according to the value of
their ages. Other examples of quantitative variables are
heights, weights, and body temperatures.

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Quantitative variables can be further classified into two
groups: discrete and continuous.
Discrete variables assume values that can be counted.

Examples:
• the number of children in a family
• the number of students in a classroom
• the number of calls received by a switchboard operator
each day for a month.
•Etc.
Continuous variables can assume an infinite number of values

between any two specific values. They are obtained by
measuring. They often include fractions and decimals.
Examples: Height, Weight, Price, Etc.
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Class Width =CW= 5

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CW = 5

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Construct Histogram, frequency polygon and Ogive.

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Practice Questions:
a. Construct the frequency distribution.

b. Construct relative frequency and percentag
frequency.
c. Construct Bar Chart.
a. Construct the frequency distribution using 8

classes.
b. Construct relative frequency and percentage
frequency.
c. Construct Histogram, frequency Polygon and
Ogive.
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Practice Questions:
Find (a) the mean

(b) the median
(c) the mode.
Find (a) the mean,

(b) the modal class.

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Pearson coefficient of skewness (PC)

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Compute:
(a) mean, median, mode, range, variance and standard deviation for each data.
(b) Coefficient of Variation for each data.
(c) Which set of data is more variable (either Houston or Pittsburgh)?
(d) Compute coefficient of skeweness and comments about the shape.

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Compute Mean, variance and standard deviation of the automobile fuel efficiency data.

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Statistics and Inferences

01/03/2024 KARACHI INSTITUTE OF ECONOMICS AND T 2

1. Basic Terms of Statistics

01/03/2024 KARACHI INSTITUTE OF ECONOMICS AND T 3

• To have this understanding, you must be knowledgeable

01/03/2024 KARACHI INSTITUTE OF ECONOMICS AND T 4

Data are the values (measurements or observations) that

A collection of data values forms a data set. Each value

01/03/2024 KARACHI INSTITUTE OF ECONOMICS AND T 5

2. Inferential statistics consists of generalizing from

01/03/2024 KARACHI INSTITUTE OF ECONOMICS AND T 6

01/03/2024 KARACHI INSTITUTE OF ECONOMICS AND T 7

Discrete variables assume values that can be counted.

Continuous variables can assume an infinite number of values

01/03/2024 KARACHI INSTITUTE OF ECONOMICS AND T 11

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a. Construct the frequency distribution.

a. Construct the frequency distribution using 8

Find (a) the mean

Find (a) the mean,

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