INTRODUCTION TO STATISTICS LECTURE 1.pptx

INTRODUCTION TO STATISTICS

1. BUSINESS STATISTICS Instructor: Nida Rasheed date: 28/08/2024

2. LECTURE 1: LEARNING OBJECTIVES LO1: INTRODUCTION TO STATISTICS LO 2: POPULATION, SAMPLE LO 3: DESCRIPTIVE AND INFERENTIAL STATISTICS LO 4: TYPES OF VARIABLES LO5: DISCRETE AND CONTINUOUS VARIABLES LO6: COLLECTION OF PRIMARY AND SECONDARY DATA LO7: LEVELS OF MEASUREMENT RESEARCH ARTICLE STUDY QUESTIONNAIRE SURVEY INTRODUCTION

3. Introduction to Statistics “It involves collecting, organizing, analyzing and interpreting data to make decisions” Data: Facts/pieces of information Variable: A characteristics or value of interest such as age, gender .

4. Types of Variables Qualitative (Non-numeric) Example: Gender, religious affiliation, state of birth, eye color Quantitative (numerical) Discrete (whole numbers) Continuous (any value) Example: Children in family Amount of income TV sets owned Tax Paid Yearly rainfall in Lahore

5. No natural zero point Inherent zero starting point

6. Descriptive Statistics “The process of organizing, summarizing and presenting data in an informative way. Example: Average age of students at college is 19.

7. Inferential Statistics The process of making a decision or prediction about a population based on sample of that population. Example; Based on a sample of 100 college students, the administration estimates the average age of all students in the college to be 20.

8. CLASS ACTIVITY HOMEWORK Understanding concept of variables. Utility of quantitative data analysis in research report. Study the given published research report .