Microsoft PowerPoint - shubham stst

[Audio] TiTle :HisTory of sTaTiscTics Precident By: Shubham Gore Roll No: FF07.

[Audio] coNTeNTs Introductoin What Is statistic Branches of statistic. Uses of statistics. Scope of statistcis. Basic definition of statistics. Important of statistics. limitation of ststistics.

[Audio] Statistics is generally used to mean quantitative aspects of data management but as a subject of study it refers to body of principles and procedures developed for collection, classification, summarization and meaningful interpretation and for the use of such data. The discipline is useful in converting random data to understandable information and aids in strategic business decision making. Statistics has its origin in Latin word Status, Italian word Statista and German term Statistik all of which mean "Political State". In ancient times the beginning of Statistics was made to meet the requirements of State primarily and hence the name. iNTroducTioN.

[Audio] WHaT is sTasTics Statistics may be defined as the collection, presentation, analysis and interpretation of numerical data. Statistics is a set of decision-making techniques which helps businessmen in making suitable policies from the available data. In fact, every businessman needs a sound background of statistics as well as of mathematics. The purpose of statistics and mathematics is to manipulate, summarize and investigate data so that the useful decision-making results can be executed..

[Audio] Two branches of statistics 1) Descriptive statistics 2) inferential statistics 1) Descriptive statistics: descriptive statistics state facts and proven outcomes from a population. Descriptive statistics summarize and describe data 2) inferential statistics : inferential statistics analyze samplings to make predictions about larger populations. Inferential statistics draw conclusions and make predictions about populations based on sample data. Example : Find the mode of the following data using descriptive statistics. The scores of 2 groups of students belonging to different classes are noted. BraNcHes of sTaTisTics.

[Audio] uses of sTaTisTics With the help of statistical methods, quantitative information about production, sale, purchase, finance, etc. can be obtained. This type of information helps businessmen in formulating suitable policies. By using the techniques of time series analysis which are based on statistical methods, the businessman can predict the effect of a large number of variables with a fair degree of accuracy. In business decision theory, most of the statistics techniques are used in taking a business decision which helps us in doing the business without uncertainty..

[Audio] scope of sTaTisTcis Presents facts in numerical figures Presents complex facts in a simplified form Studies relationship between two or more phenomena Helps in the formulation of policies Helps in forecasting Provides techniques for testing of hypothesis Provides techniques for making decisions under uncertainty.

[Audio] Basic defiNiTioN of sTaTisTics "Statistics may be called as science of counting." "Statistics may rightly be called the science of averages." "Statistics are numerical statements of facts in any department of enquiry placed in relation to each other." -Bowled "By statistics we mean qualitative data affected to a marked extent by a multiplicity of causes." – Yule and Kendall..

[Audio] imporTaNT of sTaTisTics iN oTHer field Statistics are used in various filed: Examples: 1) Statistics and Economics Statistical tools and techniques of data analysis such as price index numbers, time series analysis, demand analysis etc. Have proved immensely useful in solving a variety of economic problems. Use of statistics in Economics has led to the formulation of many economic laws like Engel's law of consumption, Pareto's law of distribution of income etc. Statistical tools like index numbers are served as economic barometers..

[Audio] 2)Statistics and Industry . In industry, statistics are widely used in quality control. In production engineering, to find out whether the product is conforming to the specifications or not, statistical tools, such as inspection plan, control charts etc. Are of extreme importance..

[Audio] 3) Statistics and Business Statistics is an indispensable tool for production control. Business executives are relying more and more on statistical techniques for studying the needs and desires of the valued customers. It helps businessman in forecasting the future trends and tendencies. To estimate the market fluctuations, changes in the demand conditions etc. Often the statistical techniques are used. ⚫ Hence, for becoming a successful businessman, tools and techniques in statistics are essential..

[Audio] limiTaTioN of sTsTisTics 1.Statistics is unable to explain individual items. 2. Statistics are unable to study qualitative characters. 3. Statistical results are not accurately correct. 4. Statistics deal with averages. 5. Statistics is only one of the methods of studying a given problem. 6. Statistics is liable to be misused. 7.Too many methods to study problems. 8.Statistical laws are not exact..

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