Basic fundamentals of Mathematics and
Statistics
Or
How to make the numbers say whatever you
want.
Determining the difference between chance and real effects
The average American sleeps 8 hours a night
The average American sleeps 8.2 hours a night
The average American sleeps 8.2339 hours a night
A person wearing red is 129 times more likely to be gored by a charging bull!
1
4
3
4
3222
27
Mean = 4.8
Median = 3
Mode = 2
0
6
5
27
4321
27
Mean = 7.5
Median = 4
Mode = 27
1
24
23
26
2211
27
Mean = 10.7
Median = 2
Mode = 1
Topics: Basic foundationVariablesMatrixFractions, ratio and proportionSolving equationsGraphsPreparing frequency tablePermutation ,combination, Probability.
Introduction to Statistics5W 1H What is Statistics? When to apply Statistics? Where to apply Statistics? Who has contributed largely to Statistics? -> Which are the different tools of Statistics?
-> How to apply Statistics?
Definition of Statistics:A.L. Bowley defined statistics as“Statistics is the science of counting”
“science of averages”
Secrist has given a detailed definition of statistics
“Statistics are the numerical statement of facts capable of analysis and interpretation and the science of statistics is the study of the principles and the methods applied in collecting, presenting, analysis and interpreting the numerical data in any field of inquiry.”
Need of Statistics
To approve or disapprove any economic theory.
To reveal the structure of the economy.To Plan a strategy.To access the success of programmes
and policies of the government.
Frequently used Statistical terms:
DataVariablePopulationSample
-> Under Data Collection1) Primary Data2) Secondary Data
Application in different fields.1)mathematics 2)computers 3)quality control 4)astronomy 5)financial corporation 6)engineering 7)banking 8)insurance
9)business administration 10) software companies11)media 12)federal government 13)industries 14)sales and production
15)wars 16)biostatistics 17) sports 18)business schools 19)Surveys 20)Pshychology studies 21)politics
Different Statistical Software's used in companies:-SASMATLABMINITABR(freely downloadable from net)SPSSSYSTATMYSTAT
Limitations Statistical laws are not exact. Statistics measures the
variability of a measurement, not the accuracy of a measurement.
Statistics analyses quantitative data. As a matter of fact, qualitative phenomenon like honesty, poverty, beauty, intelligence etc, cannot be expressed numerically and any statistical analysis cannot be directly applied on these qualitative phenomenon. Statistical techniques may be applied indirectly by first reducing the qualitative expressions to accurate quantitative terms.
For example, the intelligence of a group of students can be studied on the basis of their marks in a particular examination.
LimitationsStatistics table may be misused. The use of
statistical tools by the inexperienced and untraced persons might lead to wrong conclusions.
Statistics does not give any specific importance to the individual items, in fact it deals with an aggregate of objects.
Distribution of Internal Marks will depend on the following:-
1)Attendance in class 2)Test (Surprise & regular)3) Assignments4)Presentation5)Viva6)Paper solving
Thank you