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INTRODUCTION TO STATISTICS
- 1. PROGRAMME B.COM SUBJECT QUANTITATIVE TECHNIQUE – I SEMESTER III UNIVERSITY VIJAYANAGAR SRI KRISHNADEVARAYA UNIVERSITY, BALLARI SESSION 03
- 2. AKKI MARUTHI ASSISTANT PROFESSOR OF COMMERCE SKNG,GFGC,GANGAVATHI, KOPPAL akkimaruthi@gmail.com
- 3. RECAP • Origin and Growth of Statistics • Meaning of Statistics in Simple Words • Definition of Statistics with Statistician Profile Picture • Meaning of STATISTICS AS DATA (In Plural Sense) • Meaning of STATISTICS AS METHODS (In Singular Sense) • Distinction between STATISTICS AS DATA & STATISTICS AS METHODS • Some Modern Definitions on Statistics
- 4. Learning Objectives • After going through this chapter the students will be able to have a broad overview of the subject of statistics and application thereof,Know about data Collection Technique including the distinction of Primary and Secondary data.
- 5. Learning Outcomes • The students Can be able to understand overview of the subject of statistics and application and Know about data Collection Technique.
- 6. Session -3 • Objectives and Functions of Statistics
- 7. OBJECTIVES OF STATISTICS • The basic purpose of the statistical analysis is to determine the value which represents the whole series • To develop an appreciation for variability and how it effect product ,process and system. • It is estimating the present ; predicting the future • Study methods that can be used to solve problems ,build knowledge. • Statistics make data into information • Develop an understanding of some basic ideas of statistical reliability , stochastic process (probability concepts) .
- 8. Cont., • Statistics is very important in every aspects of society (Govt., People or Business) Types of statistics • Descriptive statistics :use to organize and describe a sample /population • Inferential statistics :use to extrapolate (estimate ) from a sample to larger population
- 9. Functions of Statistics: 1. To Present Facts in Definite Form The facts are to be given in a definite form. If the results are given in numbers, then they are more convincing than if the results are expressed on the basis of quality. 2. Precision to the Facts: The data may be presented in the form of a graph, diagram or through an average, or coefficients etc. For example, we cannot know the price position from individual prices of all good, but we can know it, if we get the index of general level of prices. 3. Facilitates Comparison: The foremost purpose of average is that it facilitates comparison. For instance, a comparison of the production of jute in Maharashtra a Punjab shows that production of jute in Maharashtra is much more as compared Punjab
- 10. Cont., 4. Formulation and Testing of Hypothesis: Averages are of great use in the formulation of various policy measures. For instance, when the Govt, finds that there is a fear of low product of sugar, it can formulate various policies to compensate the same 5. Forecasting: Statistics is not only concerned with the above functions, but it also predicts the future course of action of the phenomena. We can make future policies on the basis of estimates made with the help of Statistics 6. Policy Making With help of statistics we can frame favourable policies. How much food is required to be imported in 2007? It depends on the food-production in 2007 and the demand for food in 2007. Without knowing these factors we cannot estimate the amount of imports. On the basis of forecast the government forms the policies about food grains, housing etc. But if the forecasting is not correct, then the whole set up will be affected
- 11. Cont., 7. It Enlarges Knowledge: Whipple rightly remarks that “Statistics enables one to enlarge his horizon”. So when a person goes through various procedures of statistics, it widens his knowledge pattern. It also widens his thinking and reasoning power. It also helps him to reach to a rational conclusion. 8. To Measure Uncertainty: Future is uncertain, but statistics help the various authorities in all the phenomenon of the world to make correct estimation by taking and analyzing the various data of the part. So the uncertainty could be decreased. As we have to make a forecast we have also to create trend behaviors of the past, for which we use techniques like regression, interpolation and time series analysis.
- 12. SUMMARY As we already discussed and learnt today on Statistics as below • What are the objectives of statistics • What are the functions of statistics
- 13. MCQs 1. Which of following are objectives of Statistics A. The basic purpose of the statistical analysis is to determine the value which represents the whole series B. It is estimating the present ; predicting the future C. Statistics make data into information D. All of above Answer D 2. Types of Statistics A) Descriptive statistics B) Inferential statistics C) A or B D) Both A and B Answer: D
- 14. MCQs 3. Graphical and numerical methods are specialized processes utilized in • A) Education Statistics • B) Descriptive Statistics • C) Business Statistics • D) Social Statistics • Answer: B 4. Descriptive statistics use to organize A) sample /population B) A Quantitative features C) Both above D) A only Answer: D
- 15. MCQs 5.Which one of the following is Function of Statistics A. The basic purpose of the statistical analysis is to determine the value which represents the whole series B. It is estimating the present ; predicting the future C. Statistics make data into information D. To Present Facts in Definite Form Answer: D
- 16. REFERENCES • STATISTICAL METHODS BY S.P GUPTA SULTAN CHAND PUBLICATIONS • FUNDAMENTALS OF STATISTICS BY S.C.GUPTA SULTAN CHAND PUBLICATIONS • BUSINESS STATISTICS BY PILLAI AND BHAGAWATHI SULTAN CHAND PUBLICATIONS
- 17. THANK YOU