Statistics, in its singular sense, is that branch of science which deals with the collection, presentation, analysis, and

interpretation of data. Applications or Uses of Statistics To provide information To provide comparison To help discern relationships To aid in decision making To estimate unknown quantities To justify a claim or assertion To predict future outcomes

Statistics in the field of business:

Accounting uses statistical method to select samples for auditing purposes.

Finance uses statistical method to chose between alternative portfolio investments and to track trends in financial measures over time. Management uses statistical methods to improve quality of the products manufactured or the services delivered. Marketing uses statistical methods to estimate the proportion of costumers who prefer one product over the other.

Areas of Statistics Descriptive Statistics are methods concerned with describing and summarizing sets of data. Exam Results Certified Public Accountant Licensure Examination Results released The Professional Regulation Commission (PRC) announces that 1,553 out of 5,665 passed the Certified Public Accountant Licensure Examination given by the Board of Accountancy in the cities of Manila, Baguio, Cagayan De Oro, Cebu, Davao, Iloilo and Legazpi this May 2013.

UAAP Season 75 Women's Volleyball Team Standings

TEAMS
DLSU ADMU AdU NU UST FEU UP

W
13 10 9 9 8 6 0 1 4 5 6 7 8

12

UE

13

Economics uses Statistics to understand monitary trends.

Inferential Statistics are methods concerned with making predictions or inferences about a population based on information provided by the sample Example
You have been hired by the National Election Commission to examine how the Filipino people feel about the fairness of the voting procedures in the Philippines. Who will you ask?

A market researcher wants to know how consumers in a particular grocery likes their new product. He asks 30 consumers for their opinion regarding the product. He concludes from the report that the product did extremely well.

Coffee: The Good News Is Filtering Through BY JULIA SLATER For those of us who depend on our daily dose of java, the evidence is in: Coffee, in moderation, is not bad for you after all. In fact, some studies indicate it may even have some health benefits. For years the public was warned of the dangers of coffee, the main source of caffeine in the North American diet. In one wellpublicized New England Journal of Medicine study released in 1981, researchers found a link between coffee and pancreatic cancer. But when at least seven other studies failed to back up that finding, those results had to be retracted. Now, more than 19,000 dietary caffeine studies have been done, and many experts agree that moderate daily caffeine intake 300 to 400 milligrams, about 3 to 4 cups of coffee is not harmful. Heres more good news about coffee:

Academics records of the graduating classes during the past 5 years at a nearby state university show that 72% of the entering freshmen eventually graduated.

The numerical value, 72%, is a descriptive statistic.

If you are a member of the present freshmen class and conclude form this study that your chances of graduating are better than 70%, you have made a statistical inference that is subject to uncertainty.

Population versus Sample

A population is a collection of all elements under consideration in a statistical study. A sample is a part or subset of the population from which the information is collected. Ex. A automobile company wants to know how many kilometers an automobile is driven per year. To find out, a random sample of 100 automobile owners kept a record of the kilometers they traveled and reported an average of 23,500 kilometers.

In this example the population are all the automobiles record and sample are the 100 automobiles record.

Parameter versus Statistic A parameter is an indicator of some characteristic of a population. It is the true value of a characteristic of the population. Usually denoted by Greek letters:

A statistic is a number that describes some characteristics of a sample.

Variable is a characteristic or information of interest that is observable or measurable from every individual or object under consideration. Name Gender ID number Age

Status
Weight Number of siblings

Religion
Height School

Length of phone call

No. of phone calls

Types of Variables
Qualitative or Categorical Variable measures a quality or characteristic. Quantitative or Numerical Variable measures a numerical quantity or amount.

Types of Quantitative Variables

Discrete quantitative variable assumes only finite or infinite countable number of values; this is usually measured by counting or enumeration. Continuous quantitative variable assumes infinitely many values corresponding to the points on a line interval.

Levels of Measurements of Variables

Nominal Level (or Classificatory Scale) The nominal level is the lowest level of measurement where symbols or numbers are simply used for categorizing subjects into different groups. The values of a variable in this level are simply labels or names or categories without any implicit or explicit ordering of the labels. Ordinal Level (or Ranking Scale) The ordinal level contains the properties of the nominal level, and in addition, the numbers assigned to categories of any variable may be ranked or ordered in some low-to-high-manner. The values of a variable in this level are labels or classes with an implied ordering in these labels. Ranking can be done on the data but distances between two labels cannot be quantified.

Interval Level The interval level has the properties of the nominal and ordinal levels. The distances between any two numbers on this scale are of known sizes. An interval scale must have a common and constant unit of measurement. The unit of measurement is arbitrary and there is no true zero point. Ratio Level The ratio level is the highest level of measurement. This scale contains all the properties of the interval level, and in addition, it has a true zero point.