Statistics
Data -The term data refers to qualitative or
quantitative attributes of a variable or set of
variables.
Information – A data presented within
a context that gives it meaning and relevance
Statistics – Process of Converting data into
Information.
Definition of Statistics
General Definition :
“ The Science of recording, Organizing,
analyzing and reporting quantitative
Information.”
Definition of Statistics – A L
Bowley
“Statistics is a
1.The Science of Counting
2.The Science of Averages
3.The Science of measurement of social
phenomena, regarded as a whole in all its
manifestations and
4.A subject not confined to any other science.
Definition of Statistics
-Horace Secrist
“Statistics may be defined as the aggregate
of facts affected to a marked extent by
multiplicity of causes, numerically expressed,
enumerated or estimated according to a
reasonable standard of accuracy, collected in
a systematic manner, for a pre –determined
purpose and placed in relation to each other.
Characteristics of
statistics
Aggregate of facts
Affected by multiplicity of causes
Numerically expressed
Enumerated or estimated with required
degree of accuracy
Collected in a systematic manner
Collected for a pre determined purpose
Placed in relation to each other
Definition of statistics -
Boddington
“The science of estimates and probabilities”
Definition of statistics –
Croxten & Cowden
“statistics is the science of collection ,
presentation , analysis and interpretation of
numerical data from logical analysis
Basic Components of
Statistics – C&C
Collection of data
Presentation of data
Analysis of data
Interpretation of data
Scope of Statistics
Biology – Growth of Bacteria
Medicine – efficiency of Drugs
Agriculture – Growth of plants , yield estimation
Commerce- Profit estimation
Economics – Demographics (ex: Birth rate , death
rate)
Industry – Management of resources
Importance of Statistics
Important to managerial decision making
Product surveys
Important for the investors of a business
Important to government for making policy
decisions
Types of Statistics
Functions of Statistics
Simplifies Mass data
Makes comparison easy
Brings trends and tendencies
Hidden relations
Easy decision making
Limitations of Statistics
Does not deal with qualitative data
Does not deal with individual fact
Inferences are not exact
Can be misused and misinterpreted
Common man cannot handle easily
Statistical Software
Minitab
SPSS
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