Nature of Statistics(advancen aougfhcmdfncomzom).pptx

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1. Nature of Statistics July 22,2024

2. Statistics We define statistics as a branch of mathematics that examines and investigates way to process and analyze the data gathered. Statistics provides procedure in data collection, presentation, organization, and interpretation to have a meaningful idea that is useful to business decision-makers.

3. Division of Statistics Descriptive statistics Descriptive Statistics is the totality of methods and treatments employed in the collection, description, and analysis of numerical data. The purpose of a descriptive statistics is to tell something about the particular group of observation. Methods for summarizing data Usually it consist of graphs and numerical summaries of the data. Inferential statistics Inferential Statistics is the logical process from the sample analysis to generalization or conclusion about a population. It is also called statistical inference or inductive statistics. Methods of making decisions or predictions about a populations based on sample information.

4. A population consists of all the members of the group about which you want to draw a conclusion, while sample is a portion, or part, of the population of interest selected for analysis. The relation of between a sample and a population is portrayed in the Figure below. F C B Q P S I L Y U T X Q P L T X POPULATION SAMPLE

5. Parameter and Statistics PARAMETER Is a numerical index describing a characteristics of a population. STATISTICS Is a numerical index describing a characteristic of a sample

6. SOURCE OF DATA There are two main sources of data whether primary or secondary. PRIMARY Are data that come from an original source, and are intended to answer specific research questions, can be taken by interview, mail in questionnaire, survey, or experimentation. SECONDARY Are data that are taken from previously recorded data, such as information in research conducted, industry financial statements, business periodicals, and government reports. It can also be taken electronically. (via internet websites, compact disk, etc.)

7. CONSTANT AND VARIABLE CONSTANT A constant is a characteristics of objects, people, or events that does not vary. For example, the temperature at which water boils (100 degrees Celsius) is a constant. VARIABLE A variable is a characteristics of objects, people, or events that can take of different values. It can vary in quantity. (e.g., weight of people), or in quality (e.g., hair color of people). Variables can be classified in different ways.

8. In each of these statements, tell whether descriptive or inferential statistics have been used. The average price of houses in Rizal Province. D Birth rate in rural areas in the Philippines. D Financial analysts say that mortgage may soon hit bottom. I The monthly average expenditure of per household is 12,000.D Enrolment record of all colleges and universities in the Philippines. D The effect of AH1N1 (Swine Flu) virus to the death rate worldwide. I The guard in the SM Mall of Asia records the number of shoppers for the past 15 days. D A campaign manager analyzes the effect of TV ads on the promotion of a presidential candidate. I The political views of the youth in the urban areas with respect to inflation rate in the Southeast Asia. D A researcher tested the difference on the customers buying preference in different coffee shops. I The forecast of PAG- ASA in the number of typhoons that will hit the Philippines in the upcoming years due to global warming. I Five thousand customers have their corresponding age and buying preference results. The manager wants to determine its relationship. I The Philippines Regulation Commission (PRC) ranks the result of the Certified Public Accountants professional examination in 2015.D The human research manager determines the association of Educational attainment and the performance level of call center agents in a certain company.I A financial analyst recorded the sales revenue statistics of his textile company for the last 10 months; he wants to determine if there will be relative increase or decrease in the sales revenue for the next month.I