Data Managementmmw
Data Managementmmw
TOOL
DATA MANAGEMENT
What is STATISTICS
■ Statistics is a branch of applied mathematics
concerned with collecting, organizing, and
interpreting data .It attempts to infer the
properties of a large collection of data from
inspection of a sample of the collection thereby
allowing educated guesses to be made with a
minimum of expense.
MAIN BRANCHES OF
STATISTICS
■ Descriptive Statistics refers to the collection, presentation,
and summary of data (either using charts and graphs or using a
numerical summary).
What is Variable?
A VARIABLE is a characteristic of interest about an object under
investigation that can take on different possible outcomes, such as age,
hair, color, height, weight, and religious preference.
Two kinds of Variables
1.QUALITATIVE VARIABLES
>These are variables that can be placed into distinct categories, according
to some characteristics or attributes.
■ QUANTITATIVE VARIABLES – These are numerical and
can be ordered or ranked.
■ Also, these consist of two types: Discrete and Continuous.
■ Discrete are frequencies, obtained by means of counting.
■ Continuous are represented by measurement values.
DATA
■ Data is a set of values collected from the variable from each of
the subjects that belong to the sample. It refers to a collection
of natural phenomena descriptors such as results from
experiences, observations or experiments, or a set of premises.
It may consist of numbers, words, or images.
■ Data can be classified according to the type of variable for
which it was drawn. There are two general types of data
according to how the data vary across cases:
Types of Statistical Data
■ 1.Numerical data. These data have meaning as a measurement
such as a person’s height, weight, IQ,Or blood pressure or
shares of stocks a person owns.
■ 2. Categorical data: Categorical data represent characteristics
such as a person’s gender, . marital status, hometown, or the
types of movies they like. Categorical data can take on
numerical values (such as “1” indicating male and “2”
indicating female) but those numbers don’t have mathematical
meaning.
Four levels of Measurement
■ 1.Nominal –the lowest of the four ways to characterize data. It
deals with names, categories, or labels. (eg. Colors of eyes, yes
or no responses to a survey, favorite breakfast cereal, and
number on the back of a football jersey).
■
■ 2. Ordinal – the data at this level can be ordered but no
differences between the data. (eg. Ten cities are ranked from
one to ten, but differences between the cities don’t make much
sense, letter grades where we can order things so that A is
higher than B but without any other information).
■ 3. Interval – deals with data that can be ordered, and
in which differences between the data does make
sense. But data at this level has no starting point.(eg.
Fahrenheit and Celsius scales of temperatures).
■
■ 4. Ratio – the highest level of measurement. Data
possess all of the features of the interval level, in
addition to an absolute zero. Due to the presence of a
zero, it now makes sense to compare the ratios of
measurements.
DATA COLLECTION METHOD
■ Methods of Collecting Data
1.In-Person Interviews
Pros: In-depth and a high degree of confidence on the data
Cons: Time consuming, expensive and can be dismissed as
anecdotal.
2. Mail Surveys
Pros: Can reach anyone and everyone – no barrier
Cons: Expensive, data collection errors, lag time
DATA COLLECTION METHOD
3. Phone Surveys
Pros: High degree of confidence on the data collected, reach almost
anyone
Cons: Expensive, cannot self-administer, need to hire an agency
4. Web/Online Surveys
Pros: Cheap, can self-administer, very low probability of data errors .
Cons: Not all your customers might have an email address/be on the
internet, customers may be wary of divulging information online.
Three Ways of Presenting Data
Z-scores
A z-score represents the number of standard deviations a data value falls
above or below the mean. It is used as a way to measure relative position.
Z- Score formula
■ Example.....
■ A student scored a 65 on a math test that
Had a mean of 50 and a standard deviation of 10. She
scored 30 on a history test with a mean of 25 and a
standard deviation of 5. Compare her relative position on
the two tests.
Answer....
■ Math: z =(65-50)/10= 15/10= 1.5
■ History: z =(30-25)/5 =5/5=1
The student did better in math because
The z-score was higher.