STATISTICAL ANALYSIS
PRESENTED BY
MAHNOOR MEHBOOB ALAM
Introduction To Statistic Analysis
The term 'statistic' was introduced by the Italian
scholar Girolamo Ghilini in 1589 with reference to this science.
The birth of statistics is often dated to 1662, when John Graunt,
along with William Petty, developed early human statistical and
census methods that provided a framework for modern
demography
Statistical Analysis
statistical analysis is a data analysis tool that helps draw
meaningful conclusions from raw and unstructured data. The
conclusions are drawn using statistical analysis facilitating
decision-making and helping businesses make future
predictions on the basis of past trends.
Statistical Analysis Purposes/Funtion
Statistics has five major functions
• Condensation
• Comparison
• Forecasting
• Estimation
• Test of hypothesis.
Statistical analysis is the process of collecting and analyzing
large volumes of data in order to identify trends and develop
valuable insights
Data in statistical Analysis
Data, in statistics, is a collection of facts, observations, or
measurements used for analysis and decision-making. Data can
be numerical, such as counts or measurements, or categorical,
such as labels or classifications.
Qualitative / Quantitative
Data can be qualitative or quantitative. Qualitative data is used
to describe or label groups of items, while quantitative data is
used to measure how much or how many of something.
Grouped / Ungrouped
Data can be grouped or ungrouped. Ungrouped data is the raw
data that is first collected, while grouped data is data
Average
In statistics, an average is a single value that summarizes a set
of numbers. It's a measure of the central tendency of the data.
Mode
In statistics, the mode is the value that appears most often in a
set of data. It's a measure of central tendency that indicates
the most common characteristic of a sample
Median
In statistics, the median is the middle value of a set of numbers. It's a descriptive
statistic that can be more representative of a data set than the mean.
Standard Deviation
A standard deviation (or σ) is a measure of how dispersed the
data is in relation to the mean. Low, or small, standard
deviation indicates data are clustered tightly around the mean,
and high, or large, standard deviation indicates data are more
spread out.
What does standard deviation tell you?
•Low standard deviation: Data points are close to the mean
•High standard deviation: Data points are spread out over a wider range
•Uneven distribution: Data set is not evenly distributed
Coefficient of Variation
The coefficient of variation (CV) is a statistical measurement
that compares the standard deviation to the mean of a set of
data. It's used to quantify the amount of variability in the data,
and is often expressed as a percentage.
Z-Test
A Z-test is a statistical analysis that compares the mean of a
sample to the mean of a population. It's used to determine if
there's a statistically significant difference between the two
T-test
A t-test is a statistical analysis that compares the means of two groups to
determine if the difference is statistically significant. It's also known as
Student's t-test.
Types of t-tests
One-sample t-test: Compares a single group to a known value
•Independent two-sample t-test: Compares the means of two independent groups
•Paired t-test: Compares paired measurements
ANOVA
ANOVA, or Analysis of Variance, is a test used to determine differences between
research results from three or more unrelated samples or groups.
Types of ANOVA
1.One-Way ANOVA:
1. Compares the means of three or more groups based on a single independent variable (factor).
2. Example: Comparing the mean tensile strength of materials from three different suppliers.
2.Two-Way ANOVA:
1. Examines the effect of two independent variables (factors) on a dependent variable.
2. Example: Analyzing the effect of material type and temperature on tensile strength.
3.Repeated Measures ANOVA:
1. Used when the same subjects are measured under different conditions or time points.
2. Example: Measuring the hardness of the same sample before and after heat treatment.
Statistical Analysis Advantages
•Informed decision making
Statistical analysis can help you make better decisions by identifying patterns and trends in data.
•Predicting future events
Statistical analysis can be used to predict future events, such as revenue growth.
•Understanding relationships
Statistical analysis can help you understand the relationships between different variables.
•Quantifying measurements
Statistical analysis can quantify certainties and measurements that you made.
•Unbiased view
When used properly, statistics give an unbiased numerical view of the world.
•Presenting data
Statistical analysis can present bulk data in a precise and definite form.
•Drawing conclusions
Statistical analysis can help researchers draw conclusions about the population based on sample data.
•Analyzing large data volumes
Statistical analysis can be useful for business intelligence organizations that have to work with large data
volumes.
•Visualizing data
Statistical analysis software can visually report on data insights, making them much easier to understand.
