Scribd
Upload
79 views7 pages

Recommended Book: Introduction To Business Statistics, A Computer Integrated Approach by Alan H. Kvanli, C. Stephen Guynes and Robert J Pavur

The document discusses key concepts in statistics including: 1. Descriptive statistics involves collecting and describing data, while inferential statistics analyzes data to form conclusions about populations based on samples. 2. There are two main types of data - discrete data which has limited values, and continuous data which can take any value within a range. 3. Data can also be classified as nominal (labels), ordinal (ordered categories), interval (differences have meaning), or ratio (has a true zero point). The type of data affects which statistical analyses can be used.

Uploaded by

Nabeel Ahmad
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
79 views7 pages

Recommended Book: Introduction To Business Statistics, A Computer Integrated Approach by Alan H. Kvanli, C. Stephen Guynes and Robert J Pavur

The document discusses key concepts in statistics including: 1. Descriptive statistics involves collecting and describing data, while inferential statistics analyzes data to form conclusions about populations based on samples. 2. There are two main types of data - discrete data which has limited values, and continuous data which can take any value within a range. 3. Data can also be classified as nominal (labels), ordinal (ordered categories), interval (differences have meaning), or ratio (has a true zero point). The type of data affects which statistical analyses can be used.

Uploaded by

Nabeel Ahmad
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 7

14/03/2017

Recommended Book: Introduction to Business


statistics, a computer integrated approach by Alan H.
Kvanli, C. Stephen Guynes and Robert J Pavur.

1
14/03/2017

 “Statistics is the science comprising rules and


procedures for collecting, describing,
analyzing and interpreting numerical data”

Johaina Khalid, IMS, University of


Peshawar 3/14/2017 3

 To inform the public, For example


 Results show that crest toothpaste prevents
tooth decay
 Results show that cigarette smoking is
dangerous for health.

Johaina Khalid, IMS, University of


Peshawar 3/14/2017 4

2
14/03/2017

Application of statistics in business include


 Quality Control
 Product planning
 Forecasting
 Yearly reports
 Personnel management
 Market Research

Johaina Khalid, IMS, University of


Peshawar 3/14/2017 5

Statistics has got 2 main branches


 Descriptive statistics:
statistics:
The branch of statistics in which you collect data and
describe them is called Descriptive Statistics.
For Example: Calculating the average of test scores
of each class.
 Inferential statistics:
statistics:
The branch of statistics in which you analyze and
interpret data. It is used to form conclusions about a
large group – a population by collecting a portion of
it- a sample
For example: Taking a sample of 100 items from
each batch of production and inferring that the
complete batch is of satisfactory quality if there are
Johaina Khalid, IMS, University of
less than 3 defective items in each batch. Peshawar 3/14/2017 6

3
14/03/2017

 Population is the set of measurements (generally


belonging to a group of people or objects) that is
of interest.
 A sample is the portion of the population about
which information is gathered.
 Random Sample:
Sample: is the true representative of the
population. A method of sampling in which each
and every item in the population has the same
chance of being collected for the sample.
 If the sample includes the entire population, then
such a sample is called census.
census.

Johaina Khalid, IMS, University of


Peshawar 3/14/2017 7

 A characteristic (such as average) of the


population is referred to as a parameter.
 A characteristic (such as average) of the
sample is called statistic.
Example
Average age of all the students in Ims is a
parameter, whereas average age of a sample of
100 students from IMS is a statistic.

Johaina Khalid, IMS, University of


Peshawar 3/14/2017 8

4
14/03/2017

There are two types of numerical data


Discrete data:
data: The data set in which there are
only limited specific possible values
Examples:
Examples:
 3,5,2,1,4,2,5,2,4,4 (Coded responses from a
survey)
 No of children in a family
 No of calls received in a call centre in 1 hour
 Throwing a single die twice and recording the
average of the two throws. Possible values are
1,1.5,2,2.5,3,3.5,4,4.5,5,5.5,6

Johaina Khalid, IMS, University of


Peshawar 3/14/2017 9

Continuous Data
The data set in which any value over a
particular range is possible. There are no gaps
in continuous data values.
Examples:
 heights of students in a class
 Weights of students in a class

Johaina Khalid, IMS, University of


Peshawar 3/14/2017 10

5
14/03/2017

1. Nominal Data:
Data: are merely labels or assigned
values. For example
 Sex (1= male, 2= female)
 Colour of eyes (1- blue, 2= green, 3= brown)
 Mobile phone service used ( 1 = ufone, 2=
Mobilink, 3= telenor, 4= warid, 5= Zong)
Nominal data is generally used for calculating
the Proportion of data in each category.

2. Ordinal Data:
Data: can be arranged in order such
as best to worst. For example

Johaina Khalid, IMS, University of


Peshawar 3/14/2017 11

 Grades of students in an exam (A to F)


 Results of a cross country race (1 = fastest, 2=
runner up, …… 10= slowest)
3- Interval data:
data: The data set in which the order as well
as difference between the values have meanings. It is
meaningful to add, subtract and average such data. For
Example,
 Temperature
4- Ratio Data:
Data: Ratio data have all the properties of
Interval data and a definite zero point too. To decide if
your data are interval or ratio, ask yourself whether
twice the value is twice the strength, for example, is
100 degree F twice as hot as 50 degree, NO but a 4
acre land is twice as large as 2 acres land, so latter one
in ratio data.. These includes areas, counts, volumes,
weights etc.
Johaina Khalid, IMS, University of
Peshawar 3/14/2017 12

6
14/03/2017

 Note that Discrete data may be nominal,


ordinal, interval or ratio but continuous data
may only be interval or ratio.
 The statistical techniques do not distinguish
between interval and ratio data

Johaina Khalid, IMS, University of


Peshawar 3/14/2017 13

You might also like