Business Statistics learning with excellent

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1. Business Statistics Introduction to statistics Symbiosis International (Deemed University)

2. COURSE OUTCOMES

3. Session Objectives By the end of this session, you will be able to: Elaborate the definition of statistics Discuss the flow of statistics Explain the uses and limitation of statistics

4. So lets start.. :D

5. ? Why statistics?

6. Why statistics? ?

7. Why statistics?

8. Why statistics?

9. Why statistics? Critical guidance in producing trustworthy analyses and predictions Differentiate between reasonable and dubious conclusions. Evaluate claims based on quantitative evidence An array of knowledge and procedures Help investigators avoid a wide variety of analytical traps.

10. From where it came? Census counts- 1000 yrs. ago Distinct subject Early 19th century as the study of populations, economies, As the mathematical tool for analyzing such numbers.

11. Definition of statistics The field of statistics is the science of learning from data.

12. Definition of statistics “Aggregates of facts affected to a marked extent by multiplicity of causes, numerically expressed, enumerated or estimated according to reasonable standards of accuracy, collected in a systematic manner for a predetermined purpose and placed in relation to each other” -- Horace secrist  

13. CHARACTERISTICS of statistics

14. Statistics and Research Intertwined Qualitative and quantitative research Empirical studies Strategic thinking Problem-solving

15. THE PROCESS

16. Research problem The way things are now and a way that things could be better Task of laying down boundaries within which a researcher shall study the problem with a pre-determined objective in view 16

17. Research problems components Some objective to be attained – “no aim-no problem https://gifer.com/en/gifs/objective

18. Research problems components Individual or a group which has some difficulty or an issue. https://tenor.com/search/target-gifs

19. Research problems components Existence of alternative means – “at least two ways”. https://tenor.com/search/target-gifs

20. Research problems components Presence of some doubt regarding means- questions the relative efficiency of possible alternatives https://tenor.com/search/target-gifs

21. Research problems components Presence of an environment where the difficulty exists

22. "Statistics and ethics are intertwined" (Gelman, 2018)

23. Statistical METHODS Statistics is an art and science of collecting, analyzing, presenting and interpreting of data . Croxton and Cowden

24. Stages of statistical investigation

25. Stages of statistical investigation

26. So does that mean.. Statistics is all about DATA..!!!

27. Statistics are not just numbers and facts…!! “Statistics is both a science and an art…………..!!”

28. Science teaches us to know,

29. Arts teaches us to know,

30. “The best thing about being a statistician is playing in everyone else’s backyard.”

31. Limitations of statistics Does not deals with isolated measurements Deals only with qualitative characteristics Are true only on an average Only a means Can be misused

32. Session Outcomes In this session you learned about: Elaborate on the definition of statistics Discuss the flow of statistics Explain the uses and limitations of statistics

33. Thank You