This presentation is about the introduction of Statistics

1. Introduction Concepts of
Statistics
MODULE 1.1

2. TOPICS TO BE COVERED
What is Statistics?
Functions of Statistics
Statistics & Business
Subject Matter of Statistics
Excel in Statistics

3. What is Statistics?????

4. WHAT IS
STATISTICS?????????  Simply……
A tool to simplify things or data….
 Lets say, I have a list of all the students in
this class, stating their gender.
List
 Can you tell any meaningful out of it???????
62%
38%
Male
Female

5. INTRODUCTION
 Today, statistics is a very commonly used word
but, surprisingly enough, it is understood by
different people in different senses.
 Numbers & Figures
 Relate with some qualitative statement
 Charts & Diagrams
 Complex set of tables & techniques
 However, if we analyze the way the word
statistics is looked at, we find that broadly
speaking, there are two categories:
 A set of figures
 A set of techniques and methods

6. SET OF FIGURES
 The word statistics denotes some sort or
numerical data.
 For example, number of students who are 6 feet tall or
number of commerce graduate who are specialized in
finance in PGDM.
 In this sense, statistics are numerical
descriptions of the quantitative aspects of things.
 BUT, the use of the word statistics in the above
sense is, not very correct.
 A more appropriate word to indicate numerical
facts is DATA.

7. SET OF TECHNIQUES &
M IEt rTeHferOs Dto Sthe collection, analysis and
interpretation of data.
 Statistical methods provide a set of tools
which can be profitably used by different
sciences.
 Statistical methods range from a very simple
set of devices to highly complicated and
complex mathematical procedures.

8. DOES……..
 The word STATISTCS here refers to, two inter-related
words:
 As a Plural Noun, i.e. the Statistical Data
 As a Singular Noun, i.e. the Statistical Methods
 Statistics is regarded as an art of applying the
scientific statistical methods.
 Here, we not only study different methods of
addressing a problem but also study how those
methods should be applied in different situations.
 In end, we can define Statistics as the mathematics
of the collection, organization, & interpretation and
analysis of numerical data.

9. Functions of Statistics

10. FUNCTIONS
 To simplify complex facts and figures
 To provide numerical measurements
 To provide comparative study
 To study relationship between different facts.
 To formulate policies in different fields
 To forecast
 To measure risk and uncertainty
 To represents facts and figures in pictorial and
graphical forms

11. Statistics & Business

12. IN BUSINESS
 Virtually every area of business uses statistics in
decision making.
 Be it Marketing, Finance, Operations, HR and
others.
 Some of the examples could:
 Average age of customers buying Motorcycles
 How much risk is involved in a particular investment
 Inventory management tools
 Economic conditions, like GDP & Inflations
 Others……..

13. Subject Matter of
Statistics

14. SUBJECT MATTER
 It is into two parts:
 Descriptive Statistics
 It deals with the summarization of data, using various
statistical methods.
 This summarization can be done in different ways:
 Graphical: Pictures to Number
 Summary: Numbers to Number
 Inferential or Inductive Statistics
 It deals with those methods where conclusion about a large
group are drawn by studying a part of it.
 For example, by checking few grains of rice a housewife
makes an estimate whether the whole lot has been cooked or
not.

15. Excel in Statistics