The Essentials of Studying Statistics
Introduction
Making effective business decisions are always based on cost, time and prospect. Calculating money cost, time cost and forecast of return, all are based on marketing research, data mining, information analysis and findings. The way of the finding the answer is statistics.
Statistics – The Method of Organizing Data
Broadly, statistics is a set of disciplines for study quantitative information. Implied that several methods used to collect or process or interpret quantitative data from large amount of information, then finally generate a calculated number, for example average, mean, standard deviation…etc. All of these are the key reference for decision making or predicting consequences. Thus, it enables us to estimate the extent of our errors.
Statistics was primely developed in 17th century. It was initially used in collecting population and recourses information of United States. But now, statistics is widely applied in various fields after hundred years of progress. Today, few professional activities are untouched by statistical thinking. However, only statistics itself cannot give any conclusions and findings. It is significant when complied with other subjects or studies resulted in numerous of different independent disciplines were developed, for example Environmental Health Statistics, Biostatistics and Economics Statistics, etc.
Beside scholars, many decisions that business managers make involve data and for analysing problems, describing policies and programs, monitoring progress, improving program operations and evaluating outcome. A new breed of number cruncher, Super Cruncher, analysed large amount of data and discover the correlation between them. Th...
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...ere: your mobile services, latest credit card offers and even the placement of products in supermarket.
Statistics enables us to organize and arrange a basket of data, to link up their relationships by using calculation and diagrams, to analyze the results, finally evaluate errors, generate conclusion from small group to large group. You can prove what you want by statistics, but it really sometimes lies by tricky stratified sampling, distorted graphs and dimness figures.
Reference
Evan M. Berman (2007). Essential Statistics for Public Managers and Policy Analysts. CQ Press.
Ian Ayres (2007). SUPER CRUNCHING Why thinking-by-numbers is the new way to be smart . A Bantam Book
Derek Rowntree (2004) Statistics Without Tears A primer for non-mathematicians. Person Education Inc.
Darrell Huff (1993) How To Lie With Statistics W.W. Norton & Company, Inc.
A researcher determines that 42.7% of all downtown office buildings have ventilation problems. Is this a statistic or a parameter; explain your answer.
Inferential statistics establish the methods for the analyses used for conclusions drawing conclusions beyond the immediate data alone concerning an experiment or study for a population built on general conditions or data collected from a sample (Jackson, 2012; Trochim & Donnelly, 2008). With inferential statistics, you are trying to reach conclusions that extend beyond the immediate data alone. For instance, we use inferential statistics to try to infer from the sample data what the population might think. A requisite for developing inferential statistics supports general linear models for sampling distribution of the outcome statistic; researchers use the related inferential statistics to determine confidence (Hopkins, Marshall, Batterham, & Hanin, 2009).
The Lady Tasting Tea is a really interesting book, which draws a picture of statistics’ development in 20th century. Many famous people who contributed to this filed are introduced with their talented creations. You even do not need to own professional statistical knowledge. Just some basic mathematical knowledge is enough. And in this book, we do not only see these persons’ inventions and applications of statistics, but also their very distinct characteristics.
n my eyes, statistics are everywhere. Basketball, for example, is a game of percentages and statistics. When I watch, I see numbers. Not the jerseys, but the stats behind each player, team, and game. If you asked me how last night's game went or how skilled I think a player is, I would answer in data. Statistics is how I interpret the world, especially basketball.
Slaght, J., Harben, P. & Pallant, A., (2010). English for academic study: Reading &Writing Source Book: What is statistics?. Garnet Publishing Ltd.: UK.
We define statistics as a branch of mathematics as a means to analyze, understand what we observe and explain synopses, so as to create sense and meaning of our explanations and observations. Each day in life we come across information that originates in various forms. This is to means in order to put sense in this information; there is the necessity to use statistics. Though, due to its empirical applications and focus, statistics is typically regarded as a distinctive math’s sciences and not only a math’s branch (Chance et al, 2005) Therefore, in certain tasks a statistician use is less mathematical; for example, ensuring that collection of data is carried out in a way that yields effective deductions, reportage of results/coding statistical data in ways logical to the users. Statistics is recognized to advance the quality of data by shaping specific survey experiment designs and samples. It provides tools used to forecast and utilize data as well as the models for statistics. Also, it’s pertinent in many hypothetical fields that comprise the government, business, social and natural disciplines.
Quantitative analysis is the method in which the researcher has the opportunity to make use of statistical approaches for achieving reliable and effective results. The aim of quantitative analysis method is to illustrate the collected data all the way through gathering of primary data. This method works best with the data that is collected by surveys or interviews because it considers statistical approach for generating results. This method is not considered as accurate for the study
Quantitative and qualitative data are the two huge types of statistical data.We can make use of choosing both methods one after another, economic or time moderation may not accept us to opt for both. In such situation, comparison between the both can help in making choice.
For example biostatistics helps us to calculate age-adjusted cancer incidence rates to determine trends over time and locality, to compute statistical measures of the risk of developing brain tumors following cell phone use after adjusting for possible confounding variables, to quantify the relationship between
In the health care industry, gathering information in order to find the best diagnosis route or even determine patient satisfaction is necessary. This is complete by conducting a survey and collecting data. When the information is complete, we then have statistical information used to make administrative decision within the healthcare field. The collection of meaningful statistics is an important function of any hospital or clinic.
Statistics refers to the use of numerical information in everyday life to calculate facts and figures in limitless circumstances such as, batting averages, market share, and changes in the stock market. In addition, statistics refers to the scientific collecting, classifying, summarizing, organizing, analyzing, and interpreting numerical data. Statistics involves describing data sets and drawing conclusions based on sampling about the data sets (McClave, Benson & Sincich, 2011). Statistics are divided into two areas: descriptive statistics and inferential statistics.
Statistics can be defined as the scientific study of numerical data based on variation in nature. It deals with the collection, compilation, presentation, analysis and interpretation of numerical data.
According to Chesemore (2011), statistics is concerned with methods based on mathematics theory and probability, which allows the user to summarize many observations concisely. The first recorded use of statistics was in the 16th century; it was used by gamblers and life insurance companies. The use and development of statistical methods has greatly expanded in the 20th century. The invention of the computer simplified calculations (Chesemore, 2011). In addition to learning that statistics is used more often than I thought, I have learned the methods, calculations, the theories behind the formulas, and the requirements for each testing method.
Whether or not people notice the importance of statistics, people is using them in their everyday life. Statistics have been more and more important for different cohorts of people from a farmer to an academician and a politician. For example, Cambodian famers produce an average of three tons or rice per hectare, about eighty per cent of Cambodian population is a farmer, at least two million people support party A, and so on. According to the University of Melbourne, statistics are about to make conclusive estimates about the present or to predict the future (The University of Melbourne, 2009). Because of their significance, statistics are used for different purposes. Statistics are not always trustable, yet they depend on their reliable factors such as sample, data collection methods and sources of data. This essay will discuss how people can use statistics to present facts or to delude others. Then, it will discuss some of the criteria for a reliable statistic interpretation.
It is used everyday in several situations. “Statistics is the mathematical science involved in the application of quantitative principles to the collection, analysis, and presentation of numerical data. The practice of statistics utilizes data from some population in order to describe it meaningfully, to draw conclusions from it, and make informed decisions. The population may be a community, an organization, a production line, a service counter, or a phenomenon such as the weather” (WHAT IS