In: Other Topics

Submitted By buddeez22

Words 537

Pages 3

Words 537

Pages 3

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 there is a 0 point and the ratio of two values is meaningful.

Statistics in the Business Decision Making Process Statistics plays a big role in the business decision-making process. To be a successful entrepreneur there needs to be a strong level of making business decisions. The entrepreneur needs to have an understanding of the business and the market they supply for and be able to…...

...Justine joy balberanImportance of Statistics in Different Fields Statistics plays a vital role in every fields of human activity. Statistics has important role in determining the existing position of per capita income, unemployment, population growth rate, housing, schooling medical facilities etc…in a country. Now statistics holds a central position in almost every field like Industry, Commerce, Trade, Physics, Chemistry, Economics, Mathematics, Biology, Botany, Psychology, Astronomy etc…, so application of statistics is very wide. Now we discuss some important fields in which statistics is commonly applied. (1) Business: Statistics play an important role in business. A successful businessman must be very quick and accurate in decision making. He knows that what his customers wants, he should therefore, know what to produce and sell and in what quantities. Statistics helps businessman to plan production according to the taste of the costumers, the quality of the products can also be checked more efficiently by using statistical methods. So all the activities of the businessman based on statistical information. He can make correct decision about the location of business, marketing of the products, financial resources etc…(2) In Economics: Statistics play an important role in economics. Economics largely depends upon statistics. National income accounts are multipurpose indicators for the economists and administrators. Statistical methods are used......

Words: 741 - Pages: 3

...Microsoft | What Are the Options? | A Study of Recidivism among our Youth | | | December 4, 2012 | | Abstract In this paper I will be going over the study of our neighborhoods impact on criminals primarily focusing on the reentry rate. Also known as Recidivism When exploring such, there are key issues we must pay close attention to, and that’s the group that’s impacted the most- young black males. Secondly we must review the recidivism rate and how they play a role on the neighborhoods where prisoners return. Third we will determine whether race plays a role in certain areas where the recidivism rates are increasing. Lastly we will discuss several implications that could possibly reduce these rates. Introduction: A criminal career is a sequence of offenses during a period of an individual’s life. This repetitive criminal behavior is called recidivism, and indicates the proportion that becomes involved in criminal behavior, at what age criminal behaviors begins, how long the criminal career lasts and the number of offenses typically committed during the course of the career (Farrington, 1992) Also defined as an estimate of the percentage of released prisoner who commit another offense. There are three different measures of recidivism according to the Bureau of Justice Statistics. These are rearrests, reconviction, and reincarceration. Rearrests is described as any arrest that was reported to state identification bureau after release from a......

Words: 648 - Pages: 3

... MA3110 Statistics Dr. P. A. Williams What is my meaning of Statistics? My meaning or definition of statistics is that of its base word itself. Stat. Along with other elements that would make it a definition or an opinion of sort, but I’m sure that I won’t be far from what others may say it means or what they think it means. Stat is defined as with no delay; at once. When most of us think about statistics, we think of comparisons, of two or more entities but ones balance might be more or less as well as winning and losing. There is still that scale that separates the two where one is ahead of the other. The people analyzing and drawing conclusions are getting this information have to get it out to those that follow up on whatever the subject may be fast because people want to know. It’s said that Statistics is the science of planning studies and experiments, obtaining data, and then organizing, summarizing, presenting, analyzing, interpreting, and drawing conclusions based on data according to (Pearson’s Elementary Statistics Using Microsoft Excel by, Mario F. Triola). This is the same as I said without including all of the other tools needed, or used in Statistics. Television shows are another example being on statistic radar so to speak. You have so many television shows that are out right now, but how do we know which one is the most watched? What if you want to know which show......

Words: 499 - Pages: 2

...This paper will explain what statistics are. Statistics are used in so many ways, including business. This paper will thoroughly defining statistics, the types and levels of statistics, the role of statistics in a business and examples of how statistics may be used. The most common definition for statistics would be the collection of numerical data. Examples of numerical data could be the percentage of how many African-Americans passed, dropped out or failed out of high school in Vallejo, CA in 2013. Another would be how many slam dunks did LeBron James have last year or asking how many assist did LeBron James average last season; would give you numerical data. In this coarse, statistics is described as the science of collecting, organizing, presenting, analyzing, and interpreting data to assist in making more effective decisions. Statistics are usually divided into two catagories, descriptive and inferential statistics. Discriptive statistics are the methods of organizing, summarizing and presenting data in an informative way. Inferential statistics (also known as statistical inference) are the methods used to estimate a property of a population on the basis of a sample. There are two variables/attributes involved in statistics, qualitative and quantitative. Qualitative variables are when the characteristics being studied are categorical or nonnumeric. Quantitative variables are when a variable is studied and the study describes how much or how many. There are four......

Words: 563 - Pages: 3

...integrates applied business research and descriptive statistics. Students will learn to apply business research and descriptive statistics in making better business decisions. Other topics include examination of the role of statistics in research, statistical terminology, the appropriate use of statistical techniques, and interpretation of statistical findings in business and research. Policies Faculty and students will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Lind, D. A., Marchal, W. G., & Wathen, S. A. (2011). Basic statistics for business and economics (7th ed.). New York, NY: McGraw-Hill/Irwin. McClave, J. T., Benson, P. G., & Sincich, T. (2011). Statistics for business and economics (11th ed.). Boston, MA: Pearson-Prentice Hall. All electronic materials are available on the student website. |Week One: Understanding the Meaning of Statistics ......

Words: 3466 - Pages: 14

...Refer to the "Visual Learner: Statistics" for examples to help complete the problems in the attached worksheet. Also, to aide in the Excel calculations, view the appropriate section of the Excel tutorials. Answer each question completely in the Excel worksheet provided. Name: Date: Topic One: Mean, Variance, and Standard Deviation Please type your answer in the cell beside the question Iam attaching the forum below Workbook Exercises 11 and 16 Due Date: Jun 29, 2014 23:59:59 Max Points: 80 Details: Complete Exercises 11 and 16 in Statistics for Health Care Research: A Practical Workbook, and submit as directed by the instructor. In order to receive full credit on calculated answers, please show your work. (Use Word's equation editors, etc., and/or provide a short written description as to how you obtained the final result.) ------------------------------------------------- EXERCISE 11 USING STATISTICS TO DESCRIBE A STUDY SAMPLE ------------------------------------------------- STATISTICAL TECHNIQUE IN REVIEW Most studies describe the subjects that comprise the study sample. This description of the sample is called the sample characteristics which may be presented in a table or the narrative of the article. The sample characteristics are often presented for each of the groups in a study (i.e. experimental and control groups). Descriptive statistics are used to generate sample characteristics, and the type of statistic used depends on the level......

Words: 3145 - Pages: 13

...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...

Words: 604 - Pages: 3

...Question catalogue: Statistics Self-Study Module Master's programme Media and Communication Science If you are master student of the master programme “Media and Communication Science” and have to fulfill the additional requirement: Self-Study Module Statistics, you have to answer these list of 42 questions. Please answer the following questions concerning statistical methods in social science briefly. Helpful information concerning the questions can be found in the Reader: “Statistics”. Enjoy yourself while answering the questions. Chapter 1 1. A client rates her satisfaction with her vocational counselor on a 4-point scale from 1 = not at all satisfied to 4 = very satisfied. What is the (a) variable, (b) possible values, and (c) score? 2. Give the level of measurement for each of the following variables: (a) ethnic group to which a person belongs, (b) number of times an animal makes a wrong turn in a maze, and (c) position one finishes in a race. 3. Fifty students were asked how many hours they had studied this weekend. Here are their answers: 11, 2, 0, 13, 5, 7, 1, 8, 12, 11, 7, 8, 9, 10, 7, 4, 6, 10, 4, 7, 8, 6, 7, 10, 7, 3, 11, 18, 2, 9, 7, 3, 8, 7, 3, 13, 9, 8, 7, 7, 10, 4, 15, 3, 5, 6, 9, 7, 10, 6 Make (a) a frequency table and (b) a frequency polygon. (c) Make a grouped frequency table using intervals of 0-5, 6-10, 11-15, 16-20. Based on the grouped frequency table, (d) make a histogram and (e) describe the general shape of the distribution. 4. Below are the number......

Words: 3576 - Pages: 15

...sier!™ ing Everything Ea Mak ta t i s t i c s S e nt ia l s Ess Learn: • Exactly what you need to know about statistical ideas and techniques • The “must-know” formulas and calculations • Core topics in quick, focused lessons Deborah Rumsey, PhD Auxiliary Professor and Statistics Education Specialist, The Ohio State University Statistics Essentials FOR DUMmIES ‰ by Deborah Rumsey, PhD Statistics Essentials For Dummies® Published by Wiley Publishing, Inc. 111 River St. Hoboken, NJ 07030-5774 www.wiley.com Copyright © 2010 by Wiley Publishing, Inc., Indianapolis, Indiana Published simultaneously in Canada No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 646-8600. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, or online at http://www.wiley.com/go/permissions. Trademarks: Wiley, the Wiley Publishing logo, For Dummies, the Dummies Man logo, A Reference for the......

Words: 31557 - Pages: 127

..._______ individuals with a common characteristic that you want to generalize about Parameter: fact or characteristic about _____________ Sample: ________ of population Statistic: fact or characteristic about ______________ EXAMPLE. Mattel claims that less than 5% of all its Hot Wheels toys are defective. When testing 100 Hot Wheels toys from a production run of 7000 toys, 7% were found to be defective. What is the: a) Population? c) Parameter? Poor (Biased) Sampling Convenience sampling: Choosing respondents that are __________ to obtain Voluntary response: Respondents volunteer, so those with __________ opinions are more likely to respond b) Statistic? d) Sample? Sampling Designs 1. Simple Random Sampling (SRS): Every individual has an equal chance of being selected 2. Stratified Random Sampling: Divide population into ______________ subgroups and randomly select from each stratum 3. Cluster Random Sampling: Divide population into ______________ subgroups that are representative of population and select a few clusters 4. Systematic Sampling: with a random starting point, select at regular intervals COMM 291 Review Package prepared by Angelica Cabrera 1 EXAMPLE. You are considering ways to randomly sample UBC varsity athletes to learn about types of sports drinks they would prefer. What kind of sampling designs are the following? a) Select ten individuals from each sport team at UBC (Ex. hockey, basketball, rowing, etc.) b) Randomly select 50 athletes......

Words: 2677 - Pages: 11

...Statistics Keegan Rodgers QNT/275 1/10/15 Kim Gravelle Statistics There are many types of statistics. At its core though, statistics is; according to the American Statistical Association; “Statistics is the science of learning from data, and of measuring, controlling, and communicating uncertainty; and it thereby provides the navigation essential for controlling the course of scientific and societal advances (Davidian, M. and Louis, T. A., 10.1126/science.1218685).” Business Decisions and Statistics Using statistics for business decision-making is not new. In fact, it’s centuries old. Any time a farmer kept a record of what crops sold at a given price that he then used to adjust his planting the next year, used statistics for a business decision. Today one need only search the database available on the USDA website to access statistics from over 70 years ago. (USDA, 2015) No one can see the future or what it holds. That being said, statistics; if used correctly and with good valid data, it can help eliminate as many guesses as possible to guide the future of a given business. Let’s say, for example, you are a business owner making and selling a widget. The goal is to sell as many widgets as possible at a price that covers the cost of materials, labor and overhead that are needed to make the widgets. Statistics will ensure that you have enough information to make decisions that will have a positive......

Words: 504 - Pages: 3

...Statistics Business Jason Garrett Qnt/351 YOHANNES MARIAM 5/4/2015 After review of the text and online research I have come to the understanding of Statistics in business it’s the most widely used quantitative method in business. This method has a lot to do with the accuracy the business collects of the information to review and help make the best decision based on these findings. It is concerned with extracting the best possible information from data in order to aid decision making. As Define statistics a branch of mathematics dealing with the collection, analysis, interpretation, and presentation of masses of numerical data Identify different types and levels of statistics. Nominal Measurement There are handful of types and levels of statistics, Nominal measurements, “In social research, variables measured at a nominal level include gender, race, religious affiliation, college major, and birthplace. Ordinal measurement, in this classification, the numbers assigned to objects represent the rank order (1st, 2nd, 3rd etc.) of the entities measured. The numbers are called ordinals. The variables are called ordinal variables or rank variables. Comparisons of greater and less can be made, in addition to equality and inequality” ("Level Of Measurements," 2015). Interval measurements, “the numbers assigned to objects have all the features of ordinal measurements, and in addition equal differences between measurements represent equivalent intervals. That......

Words: 595 - Pages: 3

...Introductory STATISTICS 9TH EDITION This page intentionally left blank Introductory STATISTICS 9TH EDITION Neil A. Weiss, Ph.D. School of Mathematical and Statistical Sciences Arizona State University Biographies by Carol A. Weiss Addison-Wesley Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto Delhi Mexico City Sao Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo On the cover: Hummingbirds are known for their speed, agility, and beauty. They range in size from the smallest birds on earth to several quite large species—in length from 2 to 8.5 inches and in weight from 0.06 to 0.7 ounce. Hummingbirds ﬂap their wings from 12 to 90 times per second (depending on the species) and are the only birds able to ﬂy backwards. Normal ﬂight speed for hummingbirds is 25 to 30 mph, but they can dive at speeds of around 60 mph. Cover photograph: Hummingbird, Editor in Chief: Deirdre Lynch Acquisitions Editor: Marianne Stepanian Senior Content Editor: Joanne Dill Associate Content Editors: Leah Goldberg, Dana Jones Bettez Senior Managing Editor: Karen Wernholm Associate Managing Editor: Tamela Ambush Senior Production Project Manager: Sheila Spinney Senior Designer: Barbara T. Atkinson Digital Assets Manager: Marianne Groth Senior Media Producer: Christine Stavrou Software Development: Edward Chappell, Marty Wright C iDesign/Shutterstock Marketing Manager: Alex Gay Marketing......

Words: 377092 - Pages: 1509

...4. A psychologist interested in political behavior measured the square footage of the desks in the official office for four U.S. governors and of four chief executive officers (CEOs) of major U.S. corporations. The figures for the governors were 44, 36, 52, and 40 square feet. The figures for the CEOs were 32, 60, 48, 36 square feet. a. Figure the means and standard deviations for the governors and CEOs. b. Explain, to a person who has never had a course in statistics, what you have done. c. Note the ways in which the means and standard deviations differ, and speculate on the possible meaning of these differences, presuming that they are representative of U.S. governors and large corporations’ CEOs in general. 5. Radel and colleagues (2011) conducted a study of how feeling overly controlled makes you desire—even unconsciously—more freedom. In their study, 52 Canadian undergraduates played a video game in a laboratory and were randomly assigned to either: a. an automony deprivation condition, in which they were told to follow instructions precisely, constantly given instructions over a loudspeaker, and carefully observed on everything they did. b. a neutral condition, which was much more laid back. After this activity, they were asked to do a “lexical decision task” (a standard approach for measuring unconscious responses) in which they were shown a series of words and nonwords in random order and had to press “C” if it was a real word or “N” if not. Half of......

Words: 826 - Pages: 4

...Descriptive and Inferential Statistics ________________________________________ Statistics can be broken into two basic types. The first is known as descriptive statistics. This is a set of methods to describe data that we have collected. Ex. Of 350 randomly selected people in the town of Luserna, Italy, 280 people had the last name Nicolussi. An example of descriptive statistics is the following statement : "80% of these people have the last name Nicolussi." Ex. On the last 3 Sundays, Henry D. Carsalesman sold 2, 1, and 0 new cars respectively. An example of descriptive statistics is the following statement : "Henry averaged 1 new car sold for the last 3 Sundays." These are both descriptive statements because they can actually be verified from the information provided. The second type of statistics in inferential statistics. This is a set of methods used to make a generalization, estimate, prediction or decision. Ex. Of 350 randomly selected people in the town of Luserna, Italy, 280 people had the last name Nicolussi. An example of inferential statistics is the following statement : "80% of all people living in Italy have the last name Nicolussi." We have no information about all people living in Italy, just about the 350 living in Luserna. We have taken that information and generalized it to talk about all people living in Italy. The easiest way to tell that this statement is not descriptive is by trying to verify it based upon the information provided. Ex....

Words: 2703 - Pages: 11