Chapter-01: Islam, Md. Tarikul

Chapter-01

Islam, Md. Tarikul Business Administration Discipline Khulna University, Bangladesh [email protected]

July 25, 2009

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Islam, Md. Tarikul

Statistics: What & Why! Today’s topics  Major questions to explore o What is statistics? o

Khulna University

Islam, Md. Tarikul

Statistics Statistics  Statistics o A numerical presentation o A method o A tool to process o What kind of data to process? o What is relation to management?

Khulna University

Islam, Md. Tarikul

Statistics-02 Statistics  However o Statistics is the aggregation of facts affected to a marked extent by multiplicity of causes, numerically expressed, enumerated or estimated according to reasonable standards of accuracy, collected in a systematic manner for a predetermined purpose and placed in relation to each other

Khulna University

Islam, Md. Tarikul

Statistics-03 Statistics  Characteristics o o o o

Aggregation of facts through creating relationships There are lots of factors in statistics that are co-related Statistical expressions are numerical Statistics estimates thorough maintaining reasonable accuracy o Statistics is a system o There are pre-determined purpose for using statistics o Comparison based on same characteristics of data o All statistics are numerical statements but all numerical statements are not necessarily statistics

Khulna University

Islam, Md. Tarikul

Statistical method Statistical method  Statistical method o A method of science to     

Collect data Organize data Present data Analyze data and Interpret data

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Islam, Md. Tarikul

Statistical method-02 Statistical method  Data collection o GIGO o Data characteristics

 Data organization o Data editing o Data classification o Data tabulation

Khulna University

Islam, Md. Tarikul

Statistical method-03 Statistical method  Data presentation o Presentation in a systematic manner

 Data analysis o Use of different tools like models, formulae etc

 Result interpretation o Your mastery in interpretation different than others always!! Khulna University

makes

Islam, Md. Tarikul

you

Statistics: Science or Art Statistics: Science or Art  The debate o What is science? o What is arts? o Statistics is not a body of substantive knowledge but a body of methods for obtaining knowledge

Khulna University

Islam, Md. Tarikul

Functions of statistics Functions of statistics  Functions o Presents facts in definite form o Simplifies the mass figure o Facilitates comparison o Helps in formulation and testing of hypothesis o Helps in prediction o Helps in formulation of suitable policies

Khulna University

Islam, Md. Tarikul

Scope of statistics Scope of statistics  Scopes o With the state o In business management o Research and statistics

o In reality it’s a multidimensional field

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Islam, Md. Tarikul

Limitations of statistics Limitations of statistics  Limitations o Does not deal with isolated data o Deals with quantitative data only o Results are true only on an average o Its just a means o It can be misused

Khulna University

Islam, Md. Tarikul

Ethics in statistics Ethics in statistics  Ethics o There are basically three lies-lies, damn lies, and statistics!!!

Khulna University

Islam, Md. Tarikul

See you in the next class!

Thank You! Any Question?

Khulna University

Islam, Md. Tarikul