Introduction to statistics
Statistics is a mathematical science that pertain the
collection, presentation, analysis and an interpretation of data. Statistics
has been used widely for understanding the complex problems of the real world
and providing the well-informed decisions. There are several statistical
algorithms that are used for analyzing the primary data which help in building
the statistical model and later predicts the outcome.
Statistical & Non-Statistical Analysis
Here, we are going to discuss about two types of analysis.
First is statistical analysis and another one is non-statistical analysis.
STATISTICAL ANALYSIS
Statistical analysis is also called ‘Quantitative’ analysis. It is a science of collecting, exploring and presenting the large amounts of data to identify the patterns and trends.
NON-STATICTSICAL ANALYSIS
Another name of non-statistical analysis is ‘Qualitative’
analysis. It basically provides generic information including text, sound,
still images and moving images as well.
Although, both type of analysis provides results but
statistics or quantitative analysis gives better insights and clearer picture.
Otherwise, both these analysis play a vital role in the field of businesses.
Categories of Statistics
There are two main categories of statistics; Descriptive
Statistics and Inferential Statistics.
DESCRIPTIVE STATISTICS
Ø Descriptive statistics organize the
data & concentrate on the main characteristics of the data.
Ø Descriptive statistics provides the
summary of data either numerically or graphically.
Ø There are several numerical measures
such as mode, average, standard deviation and correlation which are used to
describe the features of data set.
INFERENTIAL STATISTICS
Ø It generalizes the large amount of
datasets and applies probability theory to draw a conclusion.
Ø Inferential statistics allows you to
infer the different parameters of population based on sample statistics and to
model relationships within the data.
Ø Modeling allows you to develop the
mathematical equations that describe the interrelationships between two or more
variables.
Statistical terms
There are various types of statistical terms that are
mandatory in statistics. Some of the statistical terms are mentioned below:
·
Population
·
Sample
·
Variable
·
Quantitative
Variable
·
Qualitative
Variable
·
Discrete
Variable
·
Continuous
Variable
Types of statistical measures
Mention below are four types of statistical measures.
1.
Measures
of frequency
2.
Measures
of central tendency
3.
Measures
of spread
4.
Measures
of position
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