Preview

Statistics and Data

Better Essays
Open Document
Open Document
5221 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Statistics and Data
Definition:

Statistics is the study of the collection, organization, analysis, interpretation and presentation of data. It deals with all aspects of this, including the planning of data collection in terms of the design of surveys and experiments.

A statistician is someone who is particularly well-versed in the ways of thinking necessary for the successful application of statistical analysis. Such people have often gained experience through working in any of a wide number of fields.

Some consider statistics to be a mathematical body of science pertaining to the collection, analysis, interpretation or explanation, and presentation of data, while others consider it a branch of mathematics concerned with collecting and interpreting data. Because of its empirical roots and its focus on applications, statistics is usually considered to be a distinct mathematical science rather than a branch of mathematics. Much of statistics is non-mathematical: ensuring that data collection is undertaken in a way that allows valid conclusions to be drawn; coding and archiving of data so that information is retained

Statisticians improve the quality of data by coming up with a specific design of experiments and survey sampling. Statistics itself also provides tools for prediction and forecasting the use of data and statistical models. Statistics is applicable to a wide variety of academic disciplines, including natural and social sciences, government, and business. Statistical consultants are available to provide help for organizations and companies without direct access to expertise relevant to their particular questions.

History of Statistics:
The use of statistical methods dates back at least to the 5th century BC. The earliest writing on statistics was found in a 9th century book entitled: "Manuscript on Deciphering Cryptographic Messages", written by Al-Kindi. In his book, he gave a detailed description of how to use statistics and frequency analysis to decipher

You May Also Find These Documents Helpful

  • Satisfactory Essays

    Qnt 351 Week 1 Assignment

    • 390 Words
    • 2 Pages

    When it comes to the role of statistics in business decision making it is applied in many ways in terms of consumer preferences or even financial trends. For example, managers across any type of business unit formulate problems, they decide on a question relating to the problem and then form a statistical formulation of the question is used to determine answers to all of the above. An example of a business question may be how many calls are answered on average in a call center and how can we increase the numbers of calls answered per hour. Another example may be how we can increase the number of accounts we…

    • 390 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Statistics plays a big role in making big business decisions because businesses need to be able to create their business based off what would be able to bring them the most business based off what their customers are looking for. For example, my first job that I had working at a fast food restaurant while I was still in high school, and the manager would have to gather all our sales data to determine how our schedule will be for the following week. Another example of how statistics are used in business is when companies are looking to release a new product. They need to be able to analyze the needed information to then determine what would be the right sales price, product labeling, and when it would be the right time to release their new product as well. There are a lot of different types of statistics that are used all the time in all different types of business fields and many people really don’t realize it. Like when a business decides to make their store hours based off what will be able to meet the needs of their customers and be available during those…

    • 308 Words
    • 1 Page
    Satisfactory Essays
  • Satisfactory Essays

    Week 1 Qnt 351

    • 592 Words
    • 3 Pages

    Statistics is defined in Statistics for Business and Economics, as the science of data. Involves collecting, classifying, organizing, analyzing, and interpreting numerical information. Statistics is more than just looking at numbers, there is a process involved in obtaining the numerical information. Statistical thinking is helpful as well. This involves applying rational thought and the science of statistics to critically assess data and inferences. It is important to keep in mind that variations exist in populations and processed data.…

    • 592 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    Population and Sampling

    • 737 Words
    • 3 Pages

    Statistical data dates back to as early as Ancient Greek time, where it was introduced by John Graunt, William Petty and Pascal in the 16th century. It was then re-introduced by Gottfriend Achenwall in the 17th century. This was a very exciting time for scientists, astronomers and physicists alike as it raised the confidence and knowing that the laws of nature were not of divine intervention. As the years went on, new mathematical discoveries were made such as census data, economy, mortality demographics, and the International Statistical Congresses, which all led to changing its name to “statistics”.…

    • 737 Words
    • 3 Pages
    Good Essays
  • Good Essays

    TEAM REFLECTION WEEK 4

    • 707 Words
    • 3 Pages

    Statistics refers to the use of numerical information in everyday life to calculate facts and figures in limitless circumstances. In addition, statistics refers to the scientific collecting, classifying, summarizing, organizing, analyzing, and interpreting numerical data. The steps in testing a research hypothesis, to compare the means of two or more groups, and to calculate the correlation between two variables.…

    • 707 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Final Project

    • 435 Words
    • 5 Pages

    Statistics is about more than calculations. It is about turning data into information and using this information to understand the population. A statistician will be asked to help solve real-world problems by designing a study, collecting data, analyzing the data, and writing up the results. As a final project, you will be asked to do something similar. Though the design and data collection will be done for you, you will be asked to analyze the data using the appropriate tests (ensuring the data are distributed normally) and write up the results, using statistical evidence to support your findings. Lastly, you will be asked to include recommendations, that is, apply the results to solve the real world problem.…

    • 435 Words
    • 5 Pages
    Satisfactory Essays
  • Good Essays

    Statistics is defined as the science of data, which involves capturing, analyzing, classifying, summarizing, organizing, and interpreting numerical data. Statistics are used in nearly every business, government, sports, and finance field. Statistics are the basis of how individuals collect data and make informed decisions based on fact, not hunches or emotion. Statistics have grown exponentially over the past 50 years from simple batting averages and gender demographics to an actual science used by businesses to predict trends and market growth.…

    • 534 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Statistics is defined as the science of data. It involves collecting, classifying, summarizing, organizing, analyzing, and interpreting numerical information. (McClave, Benson, & Sincich, 2011, p. 3). . There are two different application process involved in statistics; descriptive and inferential. Descriptive statistics is the analysis that helps describe, summarize or show data in a way to allow patterns to emerge from the data. This can be captured numerically or graphically. Inferential statistics require the statistician to reach conclusions in way that extends beyond the immediate data alone, to draw an inference of the data.…

    • 335 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    ITT Tech MA3110 Vocab 1

    • 539 Words
    • 3 Pages

    Statistics – the science of planning studies and experiments, obtaining data, and then organizing, summarizing, presenting, analyzing, interpreting, and drawing conclusions based on the data.…

    • 539 Words
    • 3 Pages
    Satisfactory Essays
  • Satisfactory Essays

    week 1 essay

    • 448 Words
    • 2 Pages

    Statistics is the science of data. It involves collecting, classifying, summarizing, organizing, analyzing, and interpreting numerical information, (Lind, Marchal, Wathen, 2011). This type of data can vary by the industry it is used in. In business it can be used to determine wages or the unemployment rate. This information is vital to inform potential companies to relocate into a given populated city.…

    • 448 Words
    • 2 Pages
    Satisfactory Essays
  • Better Essays

    "Statistics is a mathematical science pertaining to collection, analysis, interpretation and presentation of data" (Wikipedia contributors, 2006). Statistics are a valuable kind of information because they can provide data for making comparisons and determining trends. There are many uses for statistics, "but perhaps its most important purpose is to help us make good decisions about issues that involve uncertainty" (Bennett, Briggs, & Triola, 2003, p. 8).…

    • 1037 Words
    • 5 Pages
    Better Essays
  • Better Essays

    Statistics can be defined as the method of collection and analysis of data in such a way as to minimize any uncertainty in the conclusion drawn from the data so as to be able to assess the degree of such uncertainty. It could be observed from the above definition that statistical analysis, error could arise but statisticians need to minimize such errors so as to be able to achieve a desirable result.…

    • 1264 Words
    • 6 Pages
    Better Essays
  • Powerful Essays

    aggregates

    • 3372 Words
    • 16 Pages

    statisticians, ‘data’ usually refers to quantitative data that are numbers. Essentially therefore, statistics is a scientific approach to analysing numerical data in order to enable us to maximise our…

    • 3372 Words
    • 16 Pages
    Powerful Essays
  • Good Essays

    Statistics are used in all areas of trade and commerce. Governments frequently undertake studies for the purposes of formulating policy and businesses use data to identify what is currently working and what is not. Business initiatives are altered to improve organizational performance based on feedback from statistical studies. Advertising companies use statistics to assess target markets and formulate campaigns. Marketers use statistics to identify opportunities for business development.…

    • 465 Words
    • 2 Pages
    Good Essays
  • Powerful Essays

    Lecture Stat

    • 14113 Words
    • 57 Pages

    Statistics is a scientific body of knowledge that deals with the collection, organization or presentation, analysis, and interpretation of data.…

    • 14113 Words
    • 57 Pages
    Powerful Essays

Related Topics