Introduction
Statistics is the practice or science of collecting and analyzing numerical data in large quantities, especially for the purpose of inferring proportions in a whole from those in a representative sample. The following paper seeks to provide basic knowledge in some specific areas of statistical data analysis.
Descriptive statistics
Descriptive statistics is the term given to the analysis of data that helps describe, show or summarize data in a meaningful way. Descriptive statistics do not allow us to make conclusions beyond the data we have analyzed or reach conclusions regarding any hypotheses we might have made. They are just simply a way to describe our data. When data is presented to its users, it can be hard to understand …show more content…
In this case, the frequency distribution is simply the distribution and pattern of marks scored by the 100 students from the lowest to the highest. We can describe this central position using a number of statistics, including the mode, median, and mean.
Measures of dispersion: Measures of dispersion are ways of summarizing a group of data by describing how spread out the scores are. For example, the mean score of our 100 students may be 65 out of 100. However, not all students will have scored 65 marks. The scores will be spread out. Some will be lower and others higher. Measures of spread help us to summarize how spread out these scores are. Range, standard deviation, quartiles, absolute deviation and variance are some of the measures of dispersion.
Inferential …show more content…
Conclusion
In this class, BUS 308, I have come to realize that many people utilize statistics in their everyday lives. Business lives and personal lives. I work in the healthcare field and during this class and my research, I have learned just how important it is for the hospitals and larger businesses. Researchers employ scientific methods to gather data on human population samples. The health care industry benefits from knowing consumer market characteristics such as age, sex, race, income and disabilities. These "demographic" statistics can predict the types of services that people are using and the level of care that is affordable to them. Health administrators reference statistics on service utilization to apply for grant funding and to justify budget expenditures to their governing boards.
Statistics is the practice or science of collecting and analyzing numerical data in large quantities, especially for the purpose of inferring proportions in a whole from those in a representative sample. The following paper seeks to provide basic knowledge in some specific areas of statistical data analysis.
Descriptive statistics
Descriptive statistics is the term given to the analysis of data that helps describe, show or summarize data in a meaningful way. Descriptive statistics do not allow us to make conclusions beyond the data we have analyzed or reach conclusions regarding any hypotheses we might have made. They are just simply a way to describe our data. When data is presented to its users, it can be hard to understand …show more content…
In this case, the frequency distribution is simply the distribution and pattern of marks scored by the 100 students from the lowest to the highest. We can describe this central position using a number of statistics, including the mode, median, and mean.
Measures of dispersion: Measures of dispersion are ways of summarizing a group of data by describing how spread out the scores are. For example, the mean score of our 100 students may be 65 out of 100. However, not all students will have scored 65 marks. The scores will be spread out. Some will be lower and others higher. Measures of spread help us to summarize how spread out these scores are. Range, standard deviation, quartiles, absolute deviation and variance are some of the measures of dispersion.
Inferential …show more content…
Conclusion
In this class, BUS 308, I have come to realize that many people utilize statistics in their everyday lives. Business lives and personal lives. I work in the healthcare field and during this class and my research, I have learned just how important it is for the hospitals and larger businesses. Researchers employ scientific methods to gather data on human population samples. The health care industry benefits from knowing consumer market characteristics such as age, sex, race, income and disabilities. These "demographic" statistics can predict the types of services that people are using and the level of care that is affordable to them. Health administrators reference statistics on service utilization to apply for grant funding and to justify budget expenditures to their governing boards.