1305AFE – Business Data Analysis Trimester 3 - Logan and Online Topic One Introduction to Statistics & Data Collection References: ABS textbook (Selvanathan et al), Chapters 1 and 2
Part A: Intro to Statistics 2
3 Part A: Introduction to Statistics - Objectives • Define statistics • Define statistical terminologies • Population and Sample • Population Parameter and Sample statistics • Types of data: numerical, nominal, ordinal, etc • Two major areas of Statistics • Descriptive Statistics • Statistical Inference
What is statistics? Statistics is a body of principles and methods used to extract useful information from a data set to assist people to make decisions about questions of interest. Data are actual observations that result from an investigation or an experiment or a survey.
5 What is Statistics? • “Statistics is a way to get information from data” Data Statistics Information Data: Facts collected together for reference or information. Definitions: Oxford English Dictionary Information: Knowledge communicated concerning some particular fact. Statistics is a tool for creating new understanding from a set of numbers.
Who Uses it? • Statistical techniques are used extensively by marketing, accounting, quality control, consumers, professional sports people, hospital administrators, educators, economists, politicians, physicians, etc...
7 Statistical Terminology • Population vs Sample • Population Parameter vs Sample Statistic N n µ (Mu) (X bar) 2 s 2 (sigma) s p (p hat) X p ˆ
8 Key Statistical Concepts Population • a population is the group of all items of interest to a statistics practitioner. • frequently very large; sometimes infinite. E.g. All Griffith university students Sample • A sample is a set of data drawn from the population. • Potentially very large, but less than the population. E.g. A random sample of 500 Griffith university students.
9 • Populations have Parameters, • Samples have Statistics. Parameter Population Sample Statistic Subset Key Statistical Concepts…
10 Population Parameters µ p Sample s Sample statistics are used to describe what form the population takes Sample statistics can also be used to draw inferences about the parameters of the population A sample is selected from the larger population x _ p
11 Parameter • A descriptive measure of a population. • e.g.: Average annual income of all Australians. • Proportion of defective shoes manufactured in a shoe factory. Statistic • A descriptive measure of a sample. • e.g.: Average annual income of 100 randomly selected Australians. • Proportion of defective shoes in 200 randomly selected shoes manufactured in a shoe factory. Key Statistical Concepts…
12 Selecting a Sample • A survey of the whole population is called a CENSUS.
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