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Introduction To Statistics
Introduction To Statistics
What is statistics?
Data=Information??
Information=Data + Statistics
Summarize and describe Data more precisely and derive the relevant Information out of it. Capture a Populations characteristics by making inferences from a samples characteristics. Understand the nature of relationship between pair of variables in a process to improve its functioning. Make reliable forecasts of certain events of interest.
What is statistics?
The word statistics refers to a collection of procedures and principles useful for gathering and analyzing numerical information, called statistical data or simply data, for drawing conclusions and making decisions Statistics is defined in Webster as
The classified facts representing the condition of the people in a state. Especially those facts can be stated in numbers or in tables of numbers or in any tabular or classified arrangements
Identify strategies for Improvements Test the effectiveness of the Proposed Strategy Successful?
NO
YES
Implement the Strategy
Marketing
Market Research Consumer Behavior Quality Control Supply Chain Management Correlation Analysis of key ratios Analyze data on Assets and Liabilities Studies of wage rates, incentive plans etc Grievance addressal
Production
Finance
Personnel
Exercise
Sources of Data
The research facility available, The extent of accuracy required in analyses, The time span of the study, The amount of money required.
Secondary Sources
Observer
Interviews
Questionnaires
Documents
Participant
Structured
Mailed
Pre Existing
NonParticipant
Semistructured
Collected
Initiated, elicted
Unstructured
Electronically distributed
Following are the methods to collect the Data through Primary Sources
Diagnosis of a particular disease Telephonic interviews to collect the data Detailed questionnaire collecting details on behavior, demographics, Level of knowledge and Opinions Group/Panel Discussion Face to Face Meetings
Administrating Questionnaires
Focus Groups
Delphi Method
Government publications Non Government Publications Various syndicate services International Organizations
Data generated within an organization Example: Financial Data, Production, Quality Control and sales records
Data Analysis
Type of Study Correlation Regression Group differences, Ranks etc Stability of Data Reliability Validity Hypothesis Testing
Results
Interpretation of Results
Conclusions
Exercise
Data Classification
Classification of Data
Arranging data is groups/classes on the basis of certain properties in referred as data classification. It helps in:
Considering the raw data in some compact and orderly from suitable for statistical analysis. Revealing the pattern and characteristics of variable in data. Comparison and drawing inferences from the data. Statistical analysis to reveal characteristics of elements in the data set.
Data set into various classes must remain unchanged, so that the results can be compared
Basis of Classification
Geographical Classification
The classification of data is based upon geographical or location such as cities, villages etc Classification is based on time period, such classification is also called time series Simple Classification: Binary outcome such as Male-Female, Educated-Not Educated Manifold Classification: Diversified Classification such as Population is further divided into two sub population, MaleFemale Data is based on characteristics, such as Height, weight, income, expenditure etc
Chronological Classification
Qualitative Classification
Quantitative Classification
Frequency Distribution
Divide the observation in the data set into convenient ordered classes The number of observations in each class is referred to as Frequency
A tabular summary of data showing the number (frequency) of observations in each of several nonoverlapping class intervals.
Minimum 5 but less than 15 H= (Largest Numerical Value-Smallest Numerical Value )/No of class desired The Limits of each class should be clearly defined so that each observation of the data set belongs to one and only one class The value on each class that is halfway between the lower and upper class limits
Exclusive Method
When the data are classified in such a way that the upper limit of a class interval is the lower limit of the succeeding class interval. Example: 0-10, 10-20, 20-30 etc
Inclusive Method
When the data are classified in such a way that the both lower and upper limits of a class interval are included in the interval itself. Example: 0-4, 5-8, 9-12 etc
When the data involves two variable such as income and percentage expenditure on food items, supply and demand of a commodity etc, then frequency distribution is obtained as a result of cross classification is called Bivariate Frequency Distribution
The cumulative number of observations less than or equal to the upper class limit of each class The number of observations for each class interval is divided by the total number of observations The number of observations for each class interval is converted into a percentage frequency by dividing it by the total number of observations
Exercise
Graphical Representation
Data points are plotted at the midpoints of the intervals and are connected with a straight line.
To show the total number of observations of different types in the data set on a percentage basis in circles