This document provides an overview of basic statistics concepts including: - Statistics is used to determine the difference between chance and real effects by analyzing numerical data - Averages can be calculated and presented in different ways (mean, median, mode), which can provide different perspectives on the data - Statistics is applied in many fields to help with planning, assessing programs, and proving or disproving economic theories - Common statistical tools include variables, matrices, frequency tables, probability calculations - Limitations include that statistics deals with aggregates and variability rather than individual accuracy, and numbers can be misused out of context

1. Basic fundamentals of Mathematics and Statistics

2. Statistics Or How to make the numbers say whatever you want.

3. Why use statistics? Determining the difference between chance and real effects

4. Over Precise Numbers The average American sleeps 8 hours a night The average American sleeps 8.2 hours a night The average American sleeps 8.2339 hours a night

5. The Right Statistic A person wearing red is 129 times more likely to be gored by a charging bull!

6. The elusive 'average' 1 3 3 2 2 2 Mean = 4.8 Median = 3 Mode = 2 4 4 27

7. The elusive 'average' 0 5 4 3 2 1 Mean = 7.5 Median = 4 Mode = 27 6 27 27

8. The elusive 'average' 1 23 2 2 1 1 Mean = 10.7 Median = 2 Mode = 1 24 26 27

9. Topics: Basic foundation Variables Matrix Fractions, ratio and proportion Solving equations Graphs Preparing frequency table Permutation , combination, Probability.

11. When to apply Statistics?

12. Where to apply Statistics?

13. Who has contributed largely to Statistics? -> Which are the different tools of Statistics? ->How to apply Statistics?

14. Definition of Statistics: A.L. Bowley defined statistics as“Statistics is the science of counting” “science of averages” Secrist has given a detailed definition of statistics “Statistics are the numerical statement of facts capable of analysis and interpretation and the science of statistics is the study of the principles and the methods applied in collecting, presenting, analysis and interpreting the numerical data in any field of inquiry.”

15. Need of Statistics To approve or disapprove any economic theory. To reveal the structure of the economy. To Plan a strategy. To access the success of programmes and policies of the government.

17. Variable

18. Population

19. Sample -> Under Data Collection 1) Primary Data 2) Secondary Data

20. Application in different fields.

21. Different Statistical Software's used in companies:- SAS MATLAB MINITAB R(freely downloadable from net) SPSS SYSTAT MYSTAT

22. Limitations  Statistical laws are not exact. Statistics measures the variability of a measurement, not the accuracy of a measurement.  Statistics analyses quantitative data. As a matter of fact, qualitative phenomenon like honesty, poverty, beauty, intelligence etc, cannot be expressed numerically and any statistical analysis cannot be directly applied on these qualitative phenomenon. Statistical techniques may be applied indirectly by first reducing the qualitative expressions to accurate quantitative terms. For example, the intelligence of a group of students can be studied on the basis of their marks in a particular examination.

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