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Unformatted text preview: its etc. The analysis of time series and regression analysis
plays an important role in forecasting.
One of the main objectives of statistics is drawn inference
about a population from the analysis for the sample drawn from
that population. The four major branches of statistical inference are
4. Estimation theory
Tests of Hypothesis
Non Parametric tests
In estimation theory, we estimate the unknown value of the
population parameter based on the sample observations. Suppose
we are given a sample of heights of hundred students in a school,
based upon the heights of these 100 students, it is possible to
estimate the average height of all students in that school.
1.5.5 Tests of Hypothesis:
4 A statistical hypothesis is some statement about the
probability distribution, characterising a population on the basis of
the information available from the sample observations. In the
formulation and testing of hypothesis, statistical methods are
extremely useful. Whether crop yield has increased because of the
use of new fertilizer or whether the new medicine is effective in
eliminating a particular disease are some examples of statements of
hypothesis and these are tested by proper statistical tools.
1.6 Scope of Statistics:
Statistics is not a mere device for collecting numerical data,
but as a means of developing sound techniques for their handling,
analysing and drawing valid inferences from them. Statistics is
applied in every sphere of human activity – social as well as
physical – like Biology, Commerce, Education, Planning, Business
Management, Information Technology, etc. It is almost impossible
to find a single department of human activity where statistics
cannot be applied. We now discuss briefly the applications of
statistics in other disciplines.
1.6.1 Statistics and Industry:
Statistics is widely used in many industries. In industries,
control charts are widely used to maintain a certain quality level. In
production engineering, to find whether the product is conforming
to specifications or not, statistical tools, namely inspection plans,
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- Winter '08