# What Is Statistics?

In:

Submitted By hengyi
Words 604
Pages 3
Statistics as a discipline is the development and application of methods, and a collection of mathematical techniques that help to collect, analyze, interpret, and present data. Modern statistical methods involve associated tasks such as the designing and analyzing of experiments and surveys, the quantification of biological, social and scientific phenomenon and the application of statistical principles to understand more about the world around us.
Statistics can also imply a second meaning, which is the computed quantity with the help of statistical methods. Thus, it could be said that the main statistics of a particular study are the median age and income of the group. Thus statistics can imply a statistical parameter as well. Statistics can be applied to various different problems and situations but the underlying concepts all remain the same. It can also be broadly classified into descriptive statistics and inferential statistics. The ideas of presenting data and drawing relevant inferences are central to the successful use of statistical theory. In the end, the statistical analysis should be able to tell us something concrete about the sample that we are studying. A number of errors are possible in the interpretation of statistical results and a careful analysis needs to be made to prevent these errors. Basically, statistics is applicable in a variety of fields, and business is not exclusive. Decision making in business is a complex thing. It is not something like “I do as I like” but is aiming at the maximization of output, or minimization of input, or optimization of the outcome in the light of the changing market environment, changing consumer preferences and intensifying competition. Sometimes decisions are made under certainty where the outcomes of the strategic options are fully predictable; sometimes decisions are made under partial uncertainty where

### Similar Documents

Free Essay

#### What Is Statistic

...What is Statistics Statistics is defined as the science of collecting, organizing, presenting, analyzing, and interpreting data to assist in making more effective decisions. Types of Statistics There are two different types of statistics Descriptive Statistics and Inferential Statistics. Descriptive Statistics is the methods of organizing, summarizing, and presenting data in an informative way. Inferential Statistics is the method used to estimate a property of a population on the basis of a sample. Levels of Measurement There are four levels of measurements with statistics. The levels of measurement are the nominal, ordinal, interval, and ratio. Nominal Level of Measurement Of the four, the lowest and most primitive of the four levels of measurement is the nominal level of measurement. In the nominal level, the data are sorted into categories with no particular order to the categories. Ordinal Level of Measurement The ordinal level of measurement presumes that one classification is ranked higher than another classification. Interval Level of Measurement The interval level of measurement has the ranking characteristics of the ordinal level of measurement plus the characteristics that the distance between values is a constant size. Ratio Level of Measurement The highest, or the level that gives the most information about the observation, is the ratio level of measurement. The ratio level of measurement has all the characteristics of the interval level, plus...

Words: 537 - Pages: 3

#### To What Extent Do National Income Statistics (Gdp) Provide a Good Basis for Comparison Between Countries?

...Economics Essay – To what extent do national income statistics (GDP) provide a good basis for comparison between countries? In the world of Economics, GDP per capita is used to compare the way that countries are coping with different economic climates; such as recession, boom etc. This essay will be assessing whether GDP is the best statistic to use for comparing different countries’ economies. GDP is the most commonly used method by world famous economists to assess how successful an economy is. GDP stands for Gross Domestic Product and is the market value of the official goods that have been transferred in and out in a country over a certain period of time. GDP is a good method for comparing the national incomes of countries because it can be very accurate. This is especially the case when the GDP for a division is divided between the population of a country. This is a statistic called GDP per capita and is a lot more accurate at showing how wealthy a country is because it divides the value of the goods transferred in a country between the whole population. This is clearly a better way of measuring how wealthy a country is because it explains how rich each person is in a country. This is a better way of comparison between countries because it shows how rich the country is in terms of value per person instead of making assumptions. This makes a huge difference because in normal GDP, China is the richest country in the world because it is worth the most as a country; however...

Words: 726 - Pages: 3

#### To What Extent Do the Official Statistics on Crime and Ethnicity Provide a Valid Picture of the Criminal Activities of Ethnic Minorities?

...To what extent do the official statistics on crime and ethnicity provide a valid picture of the criminal activities of ethnic minorities? The purpose of official statistics is to provide us with an unbiased, objective and informative look at crime rates within the UK. However, although the statistics themselves may, to a certain extent, be reliable, the way in which they are obtained is not. Police in different areas may deem certain areas of crime a priority and thus report and record these accordingly. Also, biases within the system itself against those from ethnic minorities may affect the resulting statistics to portray an uneven account of criminal activity. The relationship between crime rates and ethnicity is extremely complex due to other factors such as the difficulty of identifying a person’s ethnic origin and the cultural and social differences between ethnic groups. It has been shown on a variety of occasions that male black youths are disproportionately selected by the police to be ‘stopped and searched’; this then results in higher numbers of black youths being charged with offences as they have been caught doing so. However, the same crimes are probably being committed by other subcultures within society, but as both the media and police do not focus on them, they are not being seen. There are many flaws with official statistics and therefore their reliability. For example, there are sections of crime that are...

Words: 1432 - Pages: 6

Free Essay

#### Why Is the Global Literacy Rate Higher for Boys Than for Girls? What Beliefs Do Such Literacy Statistics Reflect?

...Aysha Qureshi Teacher Faisal HSC4M Why is the global literacy rate higher for boys than for girls? What beliefs do such literacy statistics reflect? Worldwide, only 30 percent of all girls are enrolled in a secondary school. The cause of the low literacy rate for girls has been due to global issues such as gender inequality. In most countries around the world girls are brought up with the mindset that they must not think like a man rather a mother and a wife. This has brought about a decrease in the number of girls being allowed to go to school. Early marriages also have a great impact on the decrease of literacy rates among girls. The global literacy rate that has been higher for boys than for girls is a result of girls not being allowed to go to school, being married at an early age and compelled to have the attitudes of a mother and wife. In many countries around the world, girls are not allowed to go to school for various reasons. One such reason is the society's mentality, that boys are superior to girls. Quite a few people out there-- mostly men-- think that girls can never, and should never compete with boys. Even in countries with high literacy rates for girls, boys still can’t get used to the idea of having a female boss. Patriarchal societies discourage the idea of girls getting an education, because they know that if these girls become educated, they will fight against the injustice done to them. The high[->0] [->1]rate[->2] [->3]of[->4] [->5]child[->6]...

Words: 1625 - Pages: 7

Free Essay

#### Descriptive and Inferential Statistics

...and Inferential Statistics Statistics are all-around and used in everyday life. Statistics are used to describe how effective a medication is for a certain disorder to what the most popular color is in the United States. According to Aron, Aron, and Coups, 2009, “statistics is a method of pursuing truth. As a minimum, statistics can tell you the likelihood that your hunch is true in this time and place and with these sorts of people” (p. 2). Psychologist use two branches of statistics to summarize his or her results and those are descriptive and inferential statistics. This paper will discuss the function of statistics, what descriptive and inferential statistics are, and the relationship between descriptive and inferential statistics. Statistics are used in almost every branch of study and is found behind the scenes in many of our normal daily activities. From economic to scientific studies, statistics are utilized in one way or another. Statistics are an essential part of understanding information and expanding knowledge base and is encompasses almost all aspects of enquiry ("7 Most Essential Functions Of Statistics", 2012). Statistics have many functions that we utilize;statisticsprovides for a better understanding of phenomenon of nature and helps in proper and statistical planning in all forms of study. Using statistics helps in collecting useful quantitative data and also aids in presenting difficult or confusing data in an understandable way. Statistics facilitate comparison...

Words: 1232 - Pages: 5

Free Essay

...Statistics in Business QNT 351 July 21, 2014 Statistics In Business Statistics is a type of mathematical analysis that involves the use of qualified models, summaries, and representations for a given set of empirical data or real world observations (Investopedia, 2014). Levels and Types of Statistics There are two different levels of statistics, descriptive and inferential statistics. Descriptive statistics involves methods of displaying, organizing, as well as describing data using graphs, tables, and summary measures. Inferential statistics describes the population that is based on the sample results. While descriptive and inferential statistics are the main levels; however there are different levels of measurement that is involved in statistics, that being said, there are four levels of measurement. Those levels include ordinal, nominal, ratio, and interval data. Each of these different measurements has different goals, which receives different results in surveys. The Goal of Statistics in Business Decisions Statistics are important when making decisions throughout a company, because businesses statistics that are analyzed properly will help to provide an established market analysis as well as research of competitors in the market. When the results of the statistical analysis are reported correctly, it helps companies to prepare for future as well as current plans based off of the information that is being research. Examples of Statistics One...

Words: 400 - Pages: 2

...Statistics in Business Statistics is the collection of numerical information. Statistics collect and analyze the numerical information in large amount. There are many different types and levels of statistics. Statistics is separated into two groups’ descriptive statistic and inferential statistics. Descriptive statistics is the methods of classifying, summarizing, and giving information in an informative way. Inferential statistics method is used to estimate a property of a population on the basis of a sample. Statistics is a major factor in businesses decision making, statistics in business give them an idea of what customer they are trying to target and the amount of services and products that they will need to meet their goal Lind, Marchal, & Wathen (2011). There are many examples where statistics are used. For example when the census bureau sends out documents to fill out about your house they are gathering information to analyze the numbers to get a figure of what is going on with the population. Another example of statistics is when a certain amount of population tune in Sunday to watch the super bowl it was one of the most watch game in NFL history it was also a commercial that catch the eye of most of the viewers they went on social media to view their opinions about the commercial some find that it was not fit for that moment and some on the other hand find that it was ok. Another example of statistics is when the University of Phoenix takes a survey at the end of each...

Words: 372 - Pages: 2

#### Psych 625 Slingshot Academy - Snaptutorial.Com

...snaptutorial.com PSYCH 625 Week 1 Individual Assignment Basic Concepts in Statistics Worksheet PSYCH 625 Week 1 Individual Assignment Reliability and Validity Matrix PSYCH 625 Week 1 Individual Assignment Time to Practice – Week One PSYCH 625 Week 2 Individual Assignment Time to Practice – Week Two PSYCH 625 Week 2 Learning Team Assignment Statistics Project Import Data Into IBM ® SPSS ® Software PSYCH 625 Week 3 Individual Assignment Time to Practice – Week Three PSYCH 625 Week 3 Learning Team Assignment Hypothesis Testing Problem Worksheet PSYCH 625 Week 3 Learning Team Assignment Statistics Project Descriptive Statistics PSYCH 625 Week 4 Individual Assignment Time to Practice – Week Four PSYCH 625 Week 4 Learning Team Assignment Statistics Project Comparing Means PSYCH 625 Week 5 Individual Assignment Programmatic Assessment Time to Practice – Week Five PSYCH 625 Week 5 Learning Team Assignment Statistics Project Correlations PSYCH 625 Week 6 Individual Assignment Overview of Important Statistical Tests PSYCH 625 Week 6 Learning Team Assignment Statistics Project Presentation ----------------------------------------- PSYCH 625 Week 1 Individual Assignment Basic Concepts in Statistics Worksheet For more classes visit www.snaptutorial.com Complete the following questions. Be specific and provide examples when relevant. Cite any sources consistent with APA guidelines. What are statistics and how are they used in the behavioral sciences? Your answer should be...

Words: 1679 - Pages: 7

Words: 27869 - Pages: 112

#### Descriptive and Inferential Statistics Paper

...Descriptive and Inferential Statistics Paper Terrance Douglas, Katie Faiman, Marika Schlindwein, Christyl Schoultz, & Samantha Sisk PSY/315 February 3, 2013 Dr. Deborah Suzzane Descriptive and Inferential Statistics Paper Have you ever noticed that we just keep moving forward? There are countless, unseen individuals who make this happen each day, but how do they operate? How do they accomplish all of this? We live in a complex world. Behind the scenes, researchers are steadily developing new theories and testing their outcome. For them, statistics serves a very different purpose. In the next few paragraphs, the role of statistics is explained as their role in the psychological community. Statistics itself is then further subdivided into two different methodologies; descriptive and the inferential (Aaron & Aaron & Coups, 2009). Each method utilizes data for a different purpose, and in each method, data may be gathered differently. Lastly, an example of each of the two types of statistics which helps the reader to distinguish clearly between the descriptive and inferential types of statistics which researchers use to conduct their work. It will further be shown how the two methods of statistics relate to each other in research. It is by understanding the two different roles of each of these types of statistics that researchers are able to gather meaningful data, which is testable and provable and keeps us on a forward moving trajectory...

Words: 1193 - Pages: 5

...Statistics in Business Statistics is used daily in business and is an important asset to the decision making process. There are two broad areas of statistics, one using known information the second asks for conclusions to be made from data collected. The role of statistics in the business decision-making process is inimitable. Examples can be found from the fortune 50 organization to the mom and pop shop on the corner. Define Statistics Statistics is the science of data. It involves collecting, classifying, summarizing, organizing, analyzing, and interpreting numerical information (McClave, Benson, & Sincich, 2011). Statistics can be broken down into two broad areas: descriptive statistics, and inferential statistics. Descriptive Statistics is the utilization of numerical and graphical methods to look for patterns in a data set (McClave, Benson, & Sincich, 2011). Descriptive statistics takes known information about a phenomenon and organize it in a more convenient manner. A sample from a population is taken and this data is organized. An example of this would be taking a sample of student ages from the statistics class. Asking what age is the most common age would be an example of a descriptive type question. The second area of statistics is inferential statistics. The text defines inferential statistics as the utilization of sample data to make estimates, decisions, predictions or other generalizations about a larger set of data (McClave, Benson, & Sincich...

Words: 569 - Pages: 3

#### Understanding Business Research Terms and Concepts Part 2

...Understanding Business Research Terms and Concepts: Part 2 Justin Wilson RES 351 Business Research 31 Mar 2015 Biman Ghosh Descriptive statistics is the term given to the analysis of data that helps describe, show or summarize data in a meaningful way such that, for example, patterns might emerge from the data. Descriptive statistics do not, however, allow us to make conclusions beyond the data we have analysed or reach conclusions regarding any hypotheses we might have made. They are simply a way to describe our data. Descriptive statistics are very important because if we simply presented our raw data it would be hard to visulize what the data was showing, especially if there was a lot of it. Descriptive statistics therefore enables us to present the data in a more meaningful way, which allows simpler interpretation of the data. For example, if we had the results of 100 pieces of students' coursework, we may be interested in the overall performance of those students. We would also be interested in the distribution or spread of the marks. Descriptive statistics allow us to do this. How to properly describe data through statistics and graphs is an important topic and discussed in other Laerd Statistics guides. Typically, there are two general types of statistic that are used to describe data: * Measures of central tendency: these are ways of describing the central position of a frequency distribution for a group of data. In this case, the frequency distribution...

Words: 1657 - Pages: 7

...Statistics in Business Statistics can be defined as the way to get information from numerical data, numbers are everywhere, we use them provide logic about the past present and the future. Statistics assist in decision making in business and everyday life. In order for statistics to help us we must obtain then knowledge to collect, present, analyze, organize, and transform data. Statistics are a collection of numerical data (Lind, Marchal, & Wathen, 2011, p. 4). Statistics presented in various forms have different meanings and how it is used. There are two different types of statistics, inferential and descriptive, inferential statistics purpose relies on testing hypothesis based on a sample of the population. Inferential statistics takes a representative sample and implies reasoning. Descriptive statistics also relies on a sample size, however uses charts and tables to summarize data and develop draw conclusions and present them like bullets on a power point. Furthermore, descriptive statistics involves measurer and averages and presents data in a fancy way. Levels of statistics refer to nominal, ordinal, interval, and, ratio. Nominal measurement is simplistic in this level of measurement names, colors and labels. Ordinal level of measurement based on ratings no exact figures or measurement can be solved. Interval level of measurement is exactly that a level of measure, scale, or interval. Ratio level of measurement represents formatted data portraying interval level of...

Words: 358 - Pages: 2

Free Essay

#### Why Statistics Needed in Education Especially in Research

...Why statistics is needed in Education, especially in Research An Assignment for M. Phil Education (Research) Supervisor: Dr. Khalid Saleem Sb. Muhammad Yasin Khan   Why statistics is needed in Education, especially in Research What is statistics? Statistics is a range of procedures for gathering, organising, analysing and presenting quantitative data. ‘Data’ is the term for facts that have been obtained and subsequently recorded, and, for statisticians, ‘data’ usually refers to quantitative data that are numbers In very broad terms, statistics can be divided into two branches – descriptive and inferential statistics. 1. Descriptive statistics is concerned with quantitative data and the methods for describing them. (‘Data’ (facts) is the plural of ‘datum’ (a fact), and therefore always needs a plural verb.)This branch of statistics is the one that you will already be familiar with because descriptive statistics are used in everyday life in areas such as government, healthcare, business, and sport. 2. Inferential (analytical) statistics makes inferences about populations (entire groups of people or firms) by analysing data gathered from samples (smaller subsets of the entire group), and deals with methods that enable a conclusion to be drawn from these data. (An inference is an assumption, supposition, deduction or possibility.) Inferential statistics starts with a hypothesis (a statement of, or a conjecture about, the relationship...

Words: 984 - Pages: 4