WEEK 1 Basic Statistical Concepts
WEEK 1 Basic Statistical Concepts
WEEK 1 Basic Statistical Concepts
In marketing research, Natural, Social, In the social sciences, statistics are used in all
statistical tools are Business and Physical areas of human and social characteristics.
indispensable in studying Economics, Engineering, Sciences
Marketing,
consumer behavior, effects Computer Science
Astronomy, In physical sciences, for example, the science
Chemistry, Physics
of various promotional of meteorology uses statistics in analyzing
strategies and so on. the data gathered by satellites in predicting
weather conditions.
Areas where
STATISTICS
e.g. effectiveness of a Health & are used Environment In agriculture, experiments about crop
Medicine
new drug is determined Genetics, Clinical Trials,
Agriculture, yields, types of fertilizers and types of
Ecology, Forestry, soils under different types of
by statistical Epidemiology,
Animal Populations
experimentation and Pharmacology environments are commonly designed
evaluation. and analyzed through statistical
methods and concepts.
Government
Census, Law,
National Defense
Statistics is…
the branch of applied mathematics that is
concerned with the collection, organization,
analysis, interpretation and presentation of
quantitative data.
It’s all about making sense of data and
figuring out how to put that information to
use
Field of Statistics
Statistics
Collect data
e.g. Survey
Present data
e.g. Tables and graphs
Characterize data
e.g. Sample mean =
X i
n
INFERENTIAL STATISTICS
Estimation
e.g. Estimate the population
mean weight using the sample
mean weight
Hypothesis testing
e.g. Test the claim that the
population mean weight is 120
pounds
Drawing conclusions and/or making decisions concerning a population
based on sample results.
IMPORTANT TERMS
Population
The collection of all responses,
measurements, or counts that are of interest.
Sample
A portion or subset of the
population.
Sampling Error
reflects the fact that the result we get from our sample is not
going to be exactly equal to the result we would have got if we
have been able to measure the entire population. And each
possible sample we could take give a different result.
IMPORTANT TERMS
Parameter
Statistic