DESCRIPTIVE

STATISTICS
AND ITS USES

BY

Gaurav Arjun Mrinal Piralkar Aakash Chakravorty

Anjan Chatterjee Adwait Rode Darshan Dagli

WHAT IS DESCRIPTIVE STATISTICS?
 Descriptive Statistics is used to describe what is going on in our data
 It allows us to present qualitative descriptions in a manageable format
 It helps simplify large amounts of data in a sensible way
 It basically focuses on a small part of population known as sample thus
enabling easier decision making for the entire population.
METHODS

Central Dispersion
Tendency

Position Peakedness
MEASURES OF CENTRAL TENDENCY
-Enables player
performance
comparison
-Help eliminate
MEAN
MEDIAN
discrete variables
and get a final
number
-Helps in faster
decision making
-Applied to -Helps analyzing
salaries how capable a
-Used among team is while
different nations chasing score
MODE
for comparison of - Helps us set our
earning levels & target scores
standard of living
-Helps in deciding
player order as it
informs us about
the capability of
the player
 OTHER APPLICATIONS OF CENTRAL TENDENCY
-Used for extensive research in different areas such as-

BUSINESS ANA

CUSTOMER PSYCHOLOGY

WEATHER PATTERNS
MEASURE OF POSITION

Quartiles

Deciles

Percentiles
 • •
DECILE
QUARTILE
• A professor has
graded an exam
from 0-100 points.
Say that professor
wants to give bonus
points to the top
25% of students,
remedial instruction
to the bottom 25%
of students, and a
chance for extra
marks to the middle
50% of students.
PERCENTILE
• Academicians would
want to know how the • Percentiles
youth of the nation are commonly
fare compared to the
country's standards of used to
report scores
quality knowledge
acquisition in tests, like
• In the case of income the
distribution, if the top
10% of the wage SAT, CET and
earners are in the 8th CAT.
decile, it gives a hint to
the government to do
something to increase
their earning power
MEASURES OF DISPERSION
• Weather forecast
• Quality control
RANGE • Fluctuation in share prices

• Statistical surveys
• Accounting
VARIANCE • Selection of product

• Risk of an investor
STANDARD • Different wages
DEVIATION
OTHER APPLICATIONS OF MEASURES OF
DISPERSION

FINANCIAL ANALYST
MEASURES OF PEAKEDNESS

Skewness Kurtosis Correlation

-Distortion in a -Identifies whether -Relation between
symmetric bell the tails of a given two sets of data
shaped curve distribution contain -Correlation works
-Said to be skewed extreme values for quantifiable
when shifted to left -Lepokurtic-more data in which
or right values near the numbers are
mean meaningful
-Platykurtic-more -Cannot be used for
values are farther purely categorical
from the mean data such as gender,
brands purchased.
APPLICATIONS OF PEAKEDNESS

REAL ESTATE PRICING

ECONOMICS

RETIREMENT