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Module 1 Acquire

This document provides an overview of basic concepts and terms in business statistics. It discusses key topics like descriptive versus inferential statistics, populations versus samples, parameters versus statistics, and types of variables. Variables can be qualitative or quantitative, discrete or continuous. Data can also be measured at the nominal, ordinal, interval, or ratio level. The document outlines different data collection methods and explains how to present data in tabular, graphical, or textual form.

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Shiena Marie Villapando
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60 views

Module 1 Acquire

This document provides an overview of basic concepts and terms in business statistics. It discusses key topics like descriptive versus inferential statistics, populations versus samples, parameters versus statistics, and types of variables. Variables can be qualitative or quantitative, discrete or continuous. Data can also be measured at the nominal, ordinal, interval, or ratio level. The document outlines different data collection methods and explains how to present data in tabular, graphical, or textual form.

Uploaded by

Shiena Marie Villapando
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Module I:

Business Statistics -
Basic Concepts and Terms

Mathematics and Physics Department


Learning Outcomes

 At the end of the module, the student should be able to


 comprehend the important terms used in statistics
 differentiate descriptive and inferential statistics
 know the different applications of statistics
 distinguish the different kinds of variables
 classify data as nominal, ordinal, interval and ratio
 present data in different forms
 distinguish primary and secondary data
Florence Nightingale on Statistics
Definition of Statistics
Applications of Statistics

 1- Number of COVID Patients in the World


Applications of Statistics
 2-Disease Modelling for COVID-19
 (Estimating the number of Filipinos infected of COVID-19)
Applications of Statistics

 3- A Study of the Philippine Inflation Rate:


Two Areas of Statistics
Descriptive Statistics
Inferential Statistics
Inferential Statistics
Descriptive or Inferential Statistics:
Descriptive or Inferential Statistics:
Descriptive or Inferential Statistics:
Population vs Sample
Population vs Sample
Parameter vs Statistic

Parameter − any numerical measure or value that


describes a characteristic or an aspect of a
population.

Statistic − any numerical measure or value that


describes a characteristic or an aspect of a
sample.
Census vs Survey
Census − a process of collecting information from the population. It
also refers to an official count by a national government of the
country’s population.

 Governments use census information for public policies such as fund


allocations for schools and road constructions.

Survey − a process of collecting information from a sample.


Generally conducted when the population is too large and getting
information from the whole population is costly and time-consuming
task.
Types of Variables

 Variable − any
characteristic or
information
measurable or
observable in every
element of the
population or
sample.
Qualitative vs Quantitative
Qualitative (Categorical)
− a variable that indicates what kind of a
characteristic an individual, object, or event
possesses.

Examples
color of cars, juice, favorite basketball team, economic
status, student number
Qualitative vs Quantitative
Quantitative variable − a variable that
indicates how much or how many of a
characteristic an individual, object, or event
possesses.

Examples
volume, temperature, student grade, score in a quiz,
height
Discrete vs Continuous
Discrete variable − a quantitative variable
that can assume only countable number of
distinct values such as 0, 1, 2, 3, …

Examples
Number of students in a class, age as used in insurance,
point-grade
Discrete vs Continuous
Continuous variable − a variable that can
assume infinitely many values corresponding
to the points on a line interval.

Examples
weight, area, time, temperature
Qualitative, Discrete or Continuous:
 1. Number of COVID-19 Patients in Metro Manila
 2. Price Value of a PPE (Personal Protective Equipment)
 3. Hotline Number of Department of Health
 4. Number of Kilowatt Consumption in May 2020
 5. Number of Hearings for the Franchise of ABS CBN
 6. ECQ, MECQ, GCQ
 7. House Bill 6732
 8. Social Amelioration Package
 9. 152 Filipino Doctors and Nurses Inflicted by COVID-19
 10. 7:30am on line Mass by Manila Cathedral
Nominal Level
Ordinal Level
Interval Level
Ratio Level
Nominal, Ordinal, Interval or Ratio:
 1. Ayala Malls: Circuit, Feliz, Glorietta, Vertis North
 2. Latin Honors: Cum Laude, Magna Cum Laude, Summa Cum Laude
 3. Money
 4. House Rent
 5. ECQ, MECQ, GCQ
 6. 1st World, 2nd World, 3rd World Countries
 7. Religion Affiliation
 8. Final Grade in Managerial Statistics
 9. Number of Absences in the On line Class
 10. P5000 MakaTulong Program for Makatizens
Test Grid
Test Grid
Data Collection
Primary vs Secondary
Kind of Primary Data-
Statistical Methods
Kinds of Primary Data
Kinds of Primary Data
Kinds of Primary Data
Primary or Secondary Data:
 1. Experiments
 2. Case Studies
 3. Diaries
 4. Eyewitness accounts
 5. Biography
 6. Autobiography
 7. Government reports
 8. Field Observations
 9. Letters
 10. Mass media products
Presentation of Data

 This refers to the organization of data into tables, graphs or charts,


paragraph form so that logical and statistical conclusion can be
derived from the collected measurements

 Data may be presented in


 1- Tabular
 2 – Textual
 3 - Graphical
Tabular Form
Graphical Form
Textual Form

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