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Fundamentals of Business Statistics
Descriptive Statistics
Data types
Data types
Categorical
Numeric
Discrete
Counting
process
Continuous
Measuring
process
2
Data Measurement Scales
Nominal
• Used only for
labeling data
Ordinal
• Numbers to rank
objects or
attributes
• Distance between
objects/attributes
cannot be
measured
Interval
• Distance between
objects/attributes
can be measured
• Have arbitrary
zero point
• Basic arithmetic
operations
possible
Ratio
• Highest level of
measurement
scale
• Have fixed zero
point
• All arithmetic
operations
possible
3
Agenda
4
Descriptive Statistics
• Graphical Representation
• Tabular Representation
• Summarization
Inferential Statistics
• Conditional Probability
• Bayes’ Theorem
• Random Variables: Mean
and Variance
• Binominal Distribution
• Poisson Distribution
• Normal Distribution

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Data presentation by graphs and diagrams
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Data presentation by graphs and diagrams

The document defines and describes several types of charts used for data visualization: - A Pareto chart prioritizes factors according to their impact and follows the 80/20 principle, indicating that 80% of problems stem from 20% of causes. It focuses on the most frequent problems. - A histogram shows the frequency distribution of continuous data and allows visualization of a data set's shape, center, and variability. - A Gantt chart visually represents task start times, durations, and overlaps to simplify complex projects and monitor their progress. - A pie chart represents data proportions visually and is effective for comparing categories to totals when there are 5 or fewer segments. - A bar chart displays categorical or numeric data by

statistics
fundamentals of data science and analytics on descriptive analysis.pptx
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This document discusses various types of graphs used to visualize quantitative data such as histograms, frequency polygons, and scatter plots. It also covers concepts related to variability in data like range, variance, standard deviation, and interquartile range. Finally, it discusses qualitative vs quantitative data, scales of measurement, correlation, regression analysis techniques like least squares regression, and hypothesis testing of regression coefficients.

# fds # descriptive analysis
Introduction to Inferential Statistics.pptx
Introduction to Inferential  Statistics.pptxIntroduction to Inferential  Statistics.pptx
Introduction to Inferential Statistics.pptx

This document discusses various methods for presenting data numerically and graphically, including frequency distributions, charts, and graphs. It describes steps for constructing frequency distributions and tables, and types of charts like histograms, frequency polygons, ogives, pie charts, bar charts, and time series graphs. The purpose is to summarize large data sets in a concise and understandable way.

Graphical representation
Numerical Categorical
Univariate
Multivariate
5
Tabular representation
Freq
distribution
Table that displays the frequency of outcomes in a data
sample.
Each entry in the table contains frequency or count of
occurrences of values within a particular group or
interval.
Cross
tab
Allows comparison between two or more variables
basis multiple parameters.
For example, Pivot table in excel.
6
Frequency distribution
• Absolute frequency distribution
• Relative frequency distribution
• Cumulative frequency distribution
7
Roadmap for descriptive measures
Type of analysis Numerical data Categorical data
Tabulate, organize,
graphically present values
of a variable
Freq distribution,
histogram
Summary table, bar chart
Graphically represent
relationship between 3
variables
Scatter plot Contingency table
8

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Statistical Process Control

This document provides an overview of statistical process control and related quality control techniques. It discusses descriptive statistics, statistical process control methods including the seven basic quality tools, and acceptance sampling. Statistical process control is identified as the most important statistical quality control tool because it can identify changes or variations in quality during the production process using methods like control charts. Control charts, check sheets, Pareto charts, flow charts and other tools are explained as part of statistical process control. Acceptance sampling procedures and how they manage producer and consumer risks are also summarized.

sqcspcstatistical process control
Data Analysis.pptx
Data Analysis.pptxData Analysis.pptx
Data Analysis.pptx

This document provides an overview of key concepts in statistics and biostatistics, including variables, scales of measurement, types of data, and descriptive and inferential analysis. It defines statistics as the science of collecting, organizing, summarizing, and analyzing numerical data. Biostatistics specifically applies these statistical methods to medical data. Different types of data - nominal, ordinal, discrete, continuous - require different statistical analyses. Descriptive statistics summarize data through measures like mean, median, and standard deviation, while inferential statistics make predictions about larger datasets based on samples. The document outlines appropriate statistical tests and graphs to use for different types of medical data, such as chi-square for categorical variables and t-tests or ANOVA for continuous variables.

Descriptive statistics
Descriptive statisticsDescriptive statistics
Descriptive statistics

Decriptive Statistics Statistics versus Parameters Types of Numerical Data. Types of Scores Techniques for Summarizing Quantitative Data

samplepopulationparameter
Summarization
Central tendency
• Mean
• Median
• Mode
Variation
• Range
• Interquartile
range
• Variance
• Standard
deviation
• Coef of variation
Skewness
• Symmetrical
• Left skewed
• Right skewed
9
Skewness
10
Positive skew or
left skew
Symmetrical Negative skew
or right skew
Mean, median & extreme values - example
Mode
• Most frequently bought item decided based on mode
• Important for categorical data

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Statistics for machine learning shifa noorulain
Statistics for machine learning   shifa noorulainStatistics for machine learning   shifa noorulain
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Introduction to Statistics Descriptive Statistics Inferential Statistics Categories in Statistics Descriptive Vs Inferential Statistics Descritive statistics Topics -Measures of Central Tendency -Measures of the Spread -Measures of Asymmetry(Skewness)

statisticscentral tendencydescritive statistics
Descriptive Statistics
Descriptive StatisticsDescriptive Statistics
Descriptive Statistics

This document provides an overview of statistics concepts including descriptive and inferential statistics. Descriptive statistics are used to summarize and describe data through measures of central tendency (mean, median, mode), dispersion (range, standard deviation), and frequency/percentage. Inferential statistics allow inferences to be made about a population based on a sample through hypothesis testing and other statistical techniques. The document discusses preparing data in Excel and using formulas and functions to calculate descriptive statistics. It also introduces the concepts of normal distribution, kurtosis, and skewness in describing data distributions.

research methodsdescriptive statisticsstatistics
Interquartile range
13
Significance of SD compared to variance
• Why do we take sum of squares for variance and then find
sqrt for SD?
• Why is SD more useful than variance?
14
Five number summary & Boxplot
15
Outlier formula
• < Q1 – 1.5IQR
• > Q3 + 1.5IQR
16

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Final session in a series of four seminars presented to University of North Texas librarians. This presentation brings together some best practices for gathering, organizing, analyzing, and presenting statistics and data.

librarylibrariansstatistics
5 numerical descriptive statitics
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This document provides an overview of quantitative research methods and statistical analysis techniques. It discusses descriptive statistics such as frequencies, measures of central tendency, variability, and relationships. It also covers inferential statistics including t-tests, which are used to assess differences between two groups, and correlation, which examines relationships between two variables. Examples of conducting statistical tests in SPSS are provided.

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The document provides an introduction to statistical concepts, explaining that statistics is used to extract useful information from data to help with decision making. It discusses different types of data, variables, methods of data collection and quality, as well as statistical analysis techniques including descriptive statistics, inferential statistics, frequency distributions, graphs and charts. The goal of statistics is to summarize and analyze data to draw conclusions and make informed business decisions.

is
Coefficient ofVariation
Data1 Data2
SD 292 292
17
Mean 536 3336
CoV 54% 8.7%
Example problems in R
18
Questions?
19

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