Basic Understanding of

Statistics
Data -The term data refers to qualitative or
quantitative attributes of a variable or set of
variables.
Information – A data presented within
a context that gives it meaning and relevance
Statistics – Process of Converting data into
Information.
Definition of Statistics
General Definition :
“ The Science of recording, Organizing,
analyzing and reporting quantitative
Information.”
Definition of Statistics – A L
Bowley
“Statistics is a
1.The Science of Counting
2.The Science of Averages
3.The Science of measurement of social
phenomena, regarded as a whole in all its
manifestations and
4.A subject not confined to any other science.
Definition of Statistics
-Horace Secrist
“Statistics may be defined as the aggregate
of facts affected to a marked extent by
multiplicity of causes, numerically expressed,
enumerated or estimated according to a
reasonable standard of accuracy, collected in
a systematic manner, for a pre –determined
purpose and placed in relation to each other.
Characteristics of
statistics
Aggregate of facts
Affected by multiplicity of causes
Numerically expressed
Enumerated or estimated with required
degree of accuracy
Collected in a systematic manner
Collected for a pre determined purpose
Placed in relation to each other
Definition of statistics -
Boddington
“The science of estimates and probabilities”
Definition of statistics –
Croxten & Cowden
“statistics is the science of collection ,
presentation , analysis and interpretation of
numerical data from logical analysis
Basic Components of
Statistics – C&C
Collection of data
Presentation of data
Analysis of data
Interpretation of data
Scope of Statistics
Biology – Growth of Bacteria
Medicine – efficiency of Drugs
Agriculture – Growth of plants , yield estimation
Commerce- Profit estimation
Economics – Demographics (ex: Birth rate , death
rate)
 Industry – Management of resources
Importance of Statistics
Important to managerial decision making
Product surveys
Important for the investors of a business
Important to government for making policy
decisions
Types of Statistics
Functions of Statistics
Simplifies Mass data
Makes comparison easy
Brings trends and tendencies
Hidden relations
Easy decision making
Limitations of Statistics
Does not deal with qualitative data
Does not deal with individual fact
Inferences are not exact
Can be misused and misinterpreted
Common man cannot handle easily
Statistical Software
Minitab
SPSS
E views