Meaning Of Statistics
Course:
Applied Statistics
3.00 Credit Hours, fall 2014,
ADP (Accounting and finance)
Instructor: Sonia Iqbal
Email: Sonia.iqbal@uogsialkot.edu.pk
INTRODUCTION
1.1 Meaning of Statistics:- Statistics is a subject consisting of rules, methods and techniques of collecting data and presenting large amount of numerical information. It is also used to draw inference about the population on the basis of sample
For example, to check the performance of a student is being studied. Data will be collected on different type of variables such that study hours, percentage of attendance and IQ level etc.
Branches of Statistics:-
There are two branches of statistics, Descriptive statistics and inferential statistics.
Descriptive Statistics
Descriptive statistics deals with concepts and methods concerned with summarization and description of the aspects of numerical data. It also deals with the condensation of data, their graphical displays and the computation of a few numerical quantities that provide information about the center of the data and indicate the spread of the observation.
For example, a cricket player wants to find the score average for the last 20 games.
Inferential Statistics
Inferential statistics deal with procedures for making inferences about the characteristics that describes the population from the knowledge derived from the sample.
For example, a cricket player wants to estimate his chance of scoring based on his current season average.
1.2 Population:- A population is a collection of set of all possible observation whether finite or infinite, relevant to some characteristics of interest i-e weight of all university student.
Sample:-
It is a smaller part of population. In other words, it is subset of population i-e weights of the 100 students.
1.3 Variables:-
A quantity which varies with an individual or object like age, weight or color of eyes. There are two types of variables.
Qualitative Variables
A characteristic which can’t be expressed
Applied Statistics
3.00 Credit Hours, fall 2014,
ADP (Accounting and finance)
Instructor: Sonia Iqbal
Email: Sonia.iqbal@uogsialkot.edu.pk
INTRODUCTION
1.1 Meaning of Statistics:- Statistics is a subject consisting of rules, methods and techniques of collecting data and presenting large amount of numerical information. It is also used to draw inference about the population on the basis of sample
For example, to check the performance of a student is being studied. Data will be collected on different type of variables such that study hours, percentage of attendance and IQ level etc.
Branches of Statistics:-
There are two branches of statistics, Descriptive statistics and inferential statistics.
Descriptive Statistics
Descriptive statistics deals with concepts and methods concerned with summarization and description of the aspects of numerical data. It also deals with the condensation of data, their graphical displays and the computation of a few numerical quantities that provide information about the center of the data and indicate the spread of the observation.
For example, a cricket player wants to find the score average for the last 20 games.
Inferential Statistics
Inferential statistics deal with procedures for making inferences about the characteristics that describes the population from the knowledge derived from the sample.
For example, a cricket player wants to estimate his chance of scoring based on his current season average.
1.2 Population:- A population is a collection of set of all possible observation whether finite or infinite, relevant to some characteristics of interest i-e weight of all university student.
Sample:-
It is a smaller part of population. In other words, it is subset of population i-e weights of the 100 students.
1.3 Variables:-
A quantity which varies with an individual or object like age, weight or color of eyes. There are two types of variables.
Qualitative Variables
A characteristic which can’t be expressed