Statistics is in our everyday life and in the work environment because each of us deals with numerical numbers that are everywhere. Statistics is collecting information which can be data or numbers that involves organizing, analyzing, presenting and finding the meaning of a problem (Lind, 2011). There are two types of statistics which are descriptive statistics and inferential statistics. For descriptive statistics this summarizing and organizes data in a particular way it is a set of basic numbers that is describing something. For inferential statistics it is a decision more like a prediction and estimation of a population for sampling. Data can be identify as the levels of measurements that are use for a problem to analyze the results this includes nominal, ordinal, interval, and ratio. Each one of these measurements indicates the calculations for classifying the collective data. In the world of business statistics play a role in the decision making. It helps businesses and companies establish a base of the given results often times statistics can be form graphically to capture a target point. Data is everywhere even in a career an individual may work in or want to pursue. Statistics determines the possible facts to a problem deeper to find the results. These results can be by charts or by any graphical form the numbers are the once that show whether the results are good or bad Problem situation where statistics are present for example a surgeon has to know the measurement on where to cut or operate on a person because these is a decisive part of a surgeons job to know basic math followed by statistics. Statistics is also in casino games like the roulette table guessing the probability that 23 will hit next since 13 hit twice in this game there is a pattern to follow and try to determine what number will fall next if an individual was keeping pattern of numbers of 3 there numbers would include a 3 in them examples 30, 33, and so on at this point it’s all...

...Statistics in Business
QNT/351
William Modey
Quantitative Analysis for Business
Salonyia Fisher
Summary
Statistics is accurately defined as the study of the analysis, data collection, and organization of the data which is interpreted by a particular business field. Statistics main focus is usually dealing with the preparation procedure of the data collection in the course of developing surveys and creating experiments. When an organization uses statistics, it needs to be taken into consideration that there are two main types of statistics, which are inferential statistics and descriptive statistics. Descriptive statistics targets to sum up data sets, instead of just using data collected from a given population. Inferential statistics is used to describe different systems of procedures that can draw conclusions from arising datasets pretentious by random variations.
Methods of Statistics
There are several different methods of statistics. The first method is experimental method, which uses several different steps in this process that includes planning the research process, designing the experiments, performing the experiments, further examining the datasets, and documenting the results of the study. The second method is the observational study, which explores the...

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Statistics in Business
QNT/351
Donald Lifke
Statistics in BusinessStatistics is defined as the science of data. It involves collecting, classifying, summarizing, organizing, analyzing, and interpreting numerical information. (McClave, Benson, & Sincich, 2011, p. 3). . There are two different application process involved in statistics; descriptive and inferential. Descriptivestatistics is the analysis that helps describe, summarize or show data in a way to allow patterns to emerge from the data. This can be captured numerically or graphically. Inferential statistics require the statistician to reach conclusions in way that extends beyond the immediate data alone, to draw an inference of the data.
Our text states there are two general types of statistics; qualitative and quantitative. Qualitative data are measurements that cannot be measured on a natural numerical scale; they can only be classified into one group of categories. It is also sub classified as interval or ratio. Where quantitative data is the opposite, it only recorded on a naturally occurring numerical scale. It is sub classified nominal or ordinal. (McClave, Benson, & Sincich, 2011, p. 13).
Statistics play a major role in business decision making on a daily basis. Statistics provide businesses with...

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D. The river/lake where a fish was captured
4. Managers study the number of days per month over the last year that employees in the payroll department called in sick to determine the averages they can expect next year. Collecting the data and determining the averages last year is an example of what type of statistics? Determining the averages they can expect next year is an example of what type of statistics?
A. They are both examples of inferential statistics because averages are inferred in both instances.
B. Inferential statistics; descriptive statistics.
C. They are both examples of descriptive statistics because they deal with analyzing data.
D. Descriptive statistics; inferential statistics.
5. The grades that a random sampling of students in the psychology degree program received over the last decade of "Abnormal Psychology" classes are an example of what statistical concept?
A. The grades are an example of a parameter.
B. The grades are an example of a sample.
C. The grades are an example of a population.
D. The grades are an example of a statistic.
6. What method is used to sample a population so that it is representative of the population?
A. All but the samples that appear to have the lowest and highest values are selected.
B. Samples are chosen at random from the...

...Statistics is the study of the collection, organization, analysis, interpretation, and presentation of data. It deals with all aspects of this, including the planning of data collection in terms of the design of surveys and experiments.
The word statistics, when referring to the scientific discipline, is singular, as in "Statistics is an art. "This should not be confused with the word statistic, referring to a quantity (such as mean or median) calculated from a set of data, whose plural is statistics ("this statistic seems wrong" or "these statistics are misleading").
3 Aspects of Statistics -
~Descriptive statistics - Presenting and visualizing data
~Inferential statistics -Generalizing from samples to populations & Quantifying the extent to which observations can be generalized.
~Hypothesis Testing - Quantifying the extent to which experiments support stated hypothesis.
Levels of measurements - There are four main levels of measurement used in statistics: nominal, ordinal, interval, and ratio.[16] Each of these has different degrees of usefulness in statistical research. Ratio measurements have both a meaningful zero value and the distances between different measurements defined; they provide the greatest flexibility in statistical methods that can be used for analyzing the data.[citation needed] Interval...

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Data Analysis: Analyzing Data - Inferential Statistics
Inferential statistics deal with drawing conclusions and, in some cases, making predictions about the properties of a population based on information obtained from a sample. While descriptive statistics provide information about the central tendency, dispersion, skew, and kurtosis of data, inferential statistics allow making broader statements about the relationships between data. Inferential statistics are frequently used to answer cause-and-effect questions and make predictions. They are also used to investigate differences between and among groups. However, one must understand that inferential statistics by themselves do not prove causality. Such proof is always a function of a given theory, and it is vital that such theory be clearly stated prior to using inferential statistics. Otherwise, their use is little more than a fishing expedition. For example, suppose that statistical methods suggest that on average, men are paid significantly more than women for full-time work. Several competing explanations may exist for this discrepancy. Inferential statistics can provide evidence to prove one theory more accurate than the other. However, any ultimate conclusions about actual causality must come from a theory supported by both the data and sound logic.
WHEN TO USE IT
HOW TO PREPARE IT
The...

...Inferential Statistics
Statistical methods in psychology have two main branches, which are descriptive and inferential. They each play a major part in the data that is collected for research and other studies. This paper will show the functions of statistics, how descriptive and inferential statistics are defined and the relationship between the two.
Statistics is a necessary tool in psychology. It provides data for research studies as well as providing background information and support. Without it, understanding the various aspects of psychology and what causes disorders and behaviors would be almost impossible. Scientific, social, and economic studies use statistics in one form or another (Anand, 2013). These disciplines make use of observations, facts and figures, enquiries, and experiments using statistics and statistical methods (Anand, 2013).
Statistics presents facts in a simple form for researchers and psychologists to understand the findings from a research study. It reduces the complex nature of data, especially raw data. Statistics are put into various graphs or diagrams to make data more accessible and intelligible. When statistics are put into a graph, it helps draw inferences and aids in interpretation. Another function of statistics is allowing different sets of observation to be compared and contrasted with other...

...DEPARTMENT OF SOCIOLOGY, PSYCHOLOGY AND SOCIAL WORK
SOCI 1005 (SY16C) -INTRODUCTORY STATISTICS FOR THE
BEHAVIOURAL SCIENCES
SUMMER SCHOOL 2012/2013- COURSE OUTLINE
Lecturer: Ayesha Facey
Office: Room 46, Faculty of Social Sciences
Office #: 970-6324
E-mail: ayeshafcy@yahoo.com
COURSE OBJECTIVE
This course aims to introduce students to basic univariate and bivariate statistics. A student who successfully completes this course will possess a reasonable level of knowledge of basic statistics and their interpretations.
LEARNING OUTCOMES
At the end of the course, students should be able to:
• Adequately define statistical concepts
• Distinguish between descriptive statistics and inferential statistics
• Distinguish between qualitative data and quantitative data
• Classify data with respect to the four levels of measurement: nominal, ordinal, interval, and ratio
• Create grouped frequency distributions
• Compute measures of central tendency and variation and use them to analyze data
• Calculate and interpret the correlation coefficient and equation of the least-squares regression line for bivariate data and use the results to make predictions.
• Solve probabilities
• Compute binomial distributions
• Use the normal distribution to interpret z scores and compute probabilities
• Estimate a...

...Statistics 1
BusinessStatistics
LaSaundra H. – Lancaster
BUS 308 Statistics for Managers
Instructor Nicole Rodieck
3/2/2014
Statistics 2
When we hear about businessstatistics, 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 businessstatistics.
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...