“ Statistics should be interpreted with caution as they can be misleading; they can both lie and tell the truth”

Statistics are being used everyday to describe things in working and studying areas to show the productivity of the results they are hoping for. Therefore, people observe and notice alternative objects the world around. Throughout this fact, similarities and differences are such features that could endanger or turned out as advantages. This is called statistics. Explanations of the word “statistics” are “ information based on a study of the number of times something happens or is present or other numerical facts” (Cambridge Advanced Learner’s Dictionary, 3rd Edition). Definitely, observations and comparisons are both important processes to examine misleading statistics. This approach presented by learning from connections and experiences to analyze cautiously from unidentified, new things. This essay will first demonstrate type of misleading statistics including with some examples, and then reliable statistics will be examined by looking at some examples. In the final part, some main points that evaluate good examples of statistics will be explored.

“When statistics are extremely valuable, they are also notorious for being a means that people use to make false and misleading arguments” (Robert Korn, August 2012). For the probability of statistics, there will be no a hundred percent certainties for making sure it is definitely correct with no mistakes. Statistics give a way to look at the big picture and get a much more accurate way of understanding what is going on in the world than what people can get from individual observations. Statistics can be used, intentionally or unintentionally to reach faulty conclusions.

Misleading information is unfortunately the norm in advertising. “Data dredging is another huge problem especially in the Internet era where numbers and data are so easy...

...Descriptive & Inferential Statistics
The study of statistics plays a significant role in each of our lives. Statistics is a method often used in every scientific field to relay important information found, support new theories as they are developed and keep our society aware and up to date with the issues that affect us and what type of effect they have. From a psychological standpoint statistics provides each individual with the tools necessary to understand the work of psychologists before us and aides in the way we report what we find so that it is useful to those that will supersede. The concept of statistics is divided into two major branches of statistical methods known as descriptive and inferential statistics. To comprehend the study as a whole statisticians recommend individuals began focusing on descriptive statistics because it provides a better understanding and smooth transition into inferential. According to descriptive statistics are commonly used to summarize or describe a group of numbers in a research study while inferential takes the idea a step further to draw conclusions and make suggestions according to the numbers in the study however providing
Functions of StatisticsStatistics have a particular purpose and a list of functions in regards to not only psychology but also psychological research as well....

...Research, Statistics, and Psychology
PSY315
Jan 12, 2014
Without research methods and processes, an unimaginable amount of information would be lost to the world. Though research topics and researcher personalities vary greatly, universal truths or basics of research stand the test of time. In this paper, I examine the role of research and statistics in the field of psychology by explaining several important parts of research. I define research and the scientific method. I compare and contrast the characteristics of primary and secondary data. I also define statistics and describe their role in research. Diverse fields of study use research through the scientific method, primary data, secondary data, and statistics.
Professionals use research to investigate topics, discover, and interpret facts. Research is also performed to revise theories. Psychological theories are consistently revisited. One psychologist will create the base of a school of thought, but later psychologists will expand and update the original work. The scientific method is used in research and is considered necessary for scientific investigation. The scientific method is a series of steps. Researchers identify a problem or area of interest, research to gather information, make hypothesis, empirically test hypothesis with experiments, make changes to hypothesis or tests if necessary,...

...The Role of Research and Statistics in the Field of Psychology
Abstract
Research and statistics are essential elements within the field of Psychology. Through the evolution of technology, the task of conducting adequate research and statistics methods have become abundant in methodology. Because of such, research collection and experimentation approaches of researchers and Psychologists, greatly vary in specificity. However, one method reigns true and consistent, and that is the Scientific Method; of which will be further explored. This paper will discuss and make sense of the roles in which both research and statistics play in the field of Psychology, and the procedures in which such methods are conducted will be defined. This will include explanations of the validity, importance, and relevance of the above stated procedures, as such are referenced for study.
The Role of Research and Statistics in the Field of Psychology
Research and statistics play a crucial role in the field of psychology, both of which are used to ascertain and examine informational data. Such methods are used to greatly increase the effectiveness and success of an organization or field of study. Scientific or logical informational data is typically established through the use of the scientific method. Over the course of research history and study, the scientific method has become known to be the most...

...Statistics 1
Business Statistics
LaSaundra H. – Lancaster
BUS 308 Statistics for Managers
Instructor Nicole Rodieck
3/2/2014
Statistics 2
When we hear about business statistics, when think about the decisions that a manager makes to help make his/her business successful. But do we really know what it takes to run a business on a statistical level? While some may think that businessstatistics is too much work because it entails a detailed decision making process that includes calculations, I feel that without educating yourself on the processes first you wouldn’t know how to imply statistics. This is a tool managers will need in order to run a successful business. In this paper I will review types of statistical elements like: Descriptive, Inferential, hypothesis development and testing and the evaluation of the results. Also I will discuss what I have learned from business statistics.
My description of Descriptive statistics is that they are the numerical elements that make up a data that can refer to an amount of a categorized description of an item such as the percentage that asks the question, “How many or how much does it take to “ and the outcome numerical amount. According to “Dr. Ashram’s Statistics site” “The quantities most commonly used to measure the dispersion of the values about...

...STAT 600 Statistics and Quantitative Analysis
PROJECT: Stock return estimation
The project must be done by 6-15 a.m. October, 16th. You should submit your projects before the class begins. This is a group project. Read the course outline for general guidelines. Good luck!
The project is closely related to Lectures 1-5 of the class.
Today is September 15, 2013 and you have just started your new job with a financial planning firm. In addition to studying for all your license exams, you have been asked to review a portion of a client’s stock portfolio to determine the risk/return profiles of 12 stocks in the portfolio. Unfortunately, your small firm cannot afford the expensive databases that would provide all this information with a few simple keystrokes, but that’s why they hired you. Specifically, you have been asked to determine the monthly average returns and standard deviations for the 12 stocks for the past five years.
The stocks (with their symbols in parentheses) are:
Apple Computer (AAPL) Hershey (HSY)
Archer Daniels Midland (ADM) Motorola (MOT)
Boeing (BA) Procter and Gamble (PG)
Citigroup (C) Sirius XM radio (SIRI)
Caterpilar (CAT) Wal-Mart (WMT)
Deere&Co. (DE)...

...
MBA 501A – [STATISTICS]
ASSIGNMENT 4
INSTRUCTIONS: You are to work independently on this assignment. The total number of points possible is 50. Please note that point allocation varies per question. Use the Help feature in MINITAB 16 to read descriptions for the data sets so that you can make meaningful comments.
[10 pts] 1. Use the data set OPENHOUSE.MTW in the Student14 folder. Perform the Chi
Square test for independence to determine whether style of home and location are are related. Use α = 0.05. Explain your results.
Pearson Chi-Square = 37.159, DF = 3, P-Value = 0.000
Likelihood Ratio Chi-Square = 40.039, DF = 3, P-Value = 0.000
The P value associated with out chi square is 0.00 and the Alpha level is 0.05 so we reject the null hypothesis. The P- value is less than the alpha level. So, we conclude that style of homes and locations are not related.
[10 pts] 2. Use the data set TEMCO.MTW in the Student14 folder. Perform the Chi
Square test for independence to determine whether department and gender are related. Use α = 0.05. Explain your results.
Pearson Chi-Square = 1.005, DF = 3, P-Value = 0.800
Likelihood Ratio Chi-Square = 1.012, DF = 3, P-Value = 0.798
The P-value associated with out chi square is 0.800 and the Alpha level is 0.05 we can see that we are unable to reject the null hypothesis. The P- value is greater than the alpha level. So, we conclude that departments and gender are related..
[30 pts] 3. Use the data set...

...criterion we get the best model: y = -124.382 + 0.296X1 + 0.048X2 + 1.306X3 + 0.5198X4. This model contains all four predictor variables X1, X2, X3 and X4. This model is selected as best model by the MaxR criterion because it has the largest R-Square 0.9629, which is larger than 0.9615(model containing 3 variables), 0.9330(model containing 2 variables) and 0.8047(model containing 1 variable).
Below is a SAS output of the MaxR criterion.
Obviously, the “best” model obtained from MaxR criterion differs from that obtained from Stepwise and Backward Elimination Method. It is not hard to understand this phenomenon: Since for the Stepwise/Backward Elimination method, F-statistic plays an important role in selecting a variable: the F-statistic for a variable to be added must be significant at the SLENTRY level, the F-statistic for a variable to be removed must be significant at the SLSTAY level. While the MaxR method selects variables depending on which variable or variable combination can produce the largest R square. MaxR makes the switch that produces the largest increase in R square.
Appendix |
Code:
data job;
infile "C:\Users\sandra\Desktop\CH09PR10.txt";
input y x1 x2 x3 x4;
run;
proc reg data=job;
model y=x1 x2 x3 x4/selection=stepwise slstay=.10 slentry=.05;
title "Stepwise Selection";
run;
proc reg data=job;
model y=x1 x2 x3 x4/selection=adjrsq;
run;
proc reg data=job;
model y=x1 x2 x3...

...INTRODUCTION
A. Importance of Statistics
Statistical methods have been applied to problems ranging from business to medicine to agriculture. A review of the professional literature in almost any field will substantiate the extent of statistical analysis.
Accounting: Public accounting firms use statistical sampling procedures when conducting audits for their clients.
Economics: Economists use statistical information in making forecasts about the future of the economy or some aspect of it.
Marketing: Electronic point-of-sale scanners at retail checkout counters are used to collect data for a variety of marketing research applications.
Finance: Financial managers have routine contact with information in numerical form. Financial forecasts, break-even analyses, and investment decisions under uncertainty are but part of their activities.
Production: A variety of statistical quality control charts are used to monitor the output of a production process.
Statistics
the collection, organization, presentation, analysis, or interpretation of numerical data, especially as a branch of mathematics in which deductions are made on the assumption that the relationship between a sufficient sample of numerical data are characteristic of those between all such data.
it is a science which deals with the collection, organization, presentation, analysis, and interpretation of data.
B. Fields of Statistics
Descriptive...