Basic Concepts of Statistical Studies
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Introduction s Decision makers make better decisions when they use all available information in an effective and meaningful way. The primary role of statistics is to to provide decision makers with methods for obtaining and analyzing information to help make these decisions. Statistics is used to answer long-range planning questions, such as when and where to locate facilities to handle future sales.
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Definition s Statistics is defined as the
science of collecting, organizing, presenting, analyzing and interpreting numerical data for the purpose of assisting in making a more effective decision.
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Applications in Management s Accounting Public accounting firms use
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Alternatively, a numeric code could be used for the class standing variable (e.g. 1 denotes Freshman, 2 denotes Juniors and so on).
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Scales of Measurement s Interval
The data have the properties of ordinal data, and the interval between observations is expressed in terms of a fixed unit of measure. Interval data are always numeric.
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Scales of Measurement s Interval
Example: Shruti has an MAT score of 605, while Raj has an MAT score of 655. Raj scored 50 points more than Shruti.
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Scales of Measurement s Ratio
The data have all the properties of interval data and the ratio of two values is meaningful. Variables such as distance, height, weight, and time use the ratio scale. This scale must contain a zero value that indicates that nothing exists for the variable at the zero point.
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Scales of Measurement s Ratio
Example: Raj’s college record shows 36 credit hours earned, while Kevin’s record shows 72 credit hours earned. Kevin has twice as many credit hours earned as Raj’s.
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Qualitative and Quantitative Data
Data can be further classified as being qualitative or quantitative. The statistical analysis that is appropriate depends on whether the data for the variable are qualitative or quantitative. In general, there are more alternatives for statistical analysis when the data are quantitative.
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Qualitative Data
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2. Based on the scale of measurement for each variable listed below, which measure of central tendency is most appropriate for describing the data?
Statistics provides us with very useful tools and techniques that aide us in dealing with real world scenarios. I have been able to learn several useful concepts by studying statistics that can aide me in making rational and informed decisions that are supported by the analysis results. Statistics as a discipline is the application and development of various processes put in place to gather, interpret, and analyse the information. The quantification of biological, social, and scientific phenomenons, design and analysis of experiments and surveys, and application of
Quantitative data is facts that are written in numerical form and then proven. The way Quantitative data is recorded is in numbers. An example of Quantitative data is 55%take bus, 25% take train, 10% walk and 10% car.
Variable Body Style is qualitative, variable Weight is continuous, variable Number of Seats is discrete
Placed students had higher grades because their course grade mean was higher and the standard deviation was lower than the continuing students. This means that the average distance to the mean was every 1.04 of each student making the gap longer than the average distance of placed students which was .62.
Therefore, on a 100 point scale, the lowest failing grade that a student may receive is a 50, not a zero.
The coefficient is 403.for any increase in size, the credit balance will change by beta-hat
A theory often used in the research of individual health behavior and behavioral intentions is the theory of planned behavior (Ajzen, 1991). According to this theory, the performance of any behavior depends on behavioral intention. Behavioral intention is viewed as being dependent on behavioral beliefs (e.g., attitude towards the behavior), normative beliefs, and control beliefs. Normative beliefs are beliefs about the expectations of others, and control beliefs are beliefs about the factors that may help or hinder the performance of the behavior. The framework for the study of physical activity discussed earlier by Armitage (2005) is based on this theory. That study found that behavioral beliefs, normative beliefs, and control beliefs all contribute to physical activity behavior.
1. The researchers analyzed the data they collected as though it were at what level of measurement?
Explanation: The difference between 5.5% and 6.5% is 100 base points. In addition, the difference is 100 base points because of the difference between 6.5%=650 points and 5.5%=550 points.
Statistics are used in many different ways in my workplace. The use of statistics is for the improvement of quality care and safety. Statistics are also used to measure employee compliance in regards to hand washing and proper use of policies and procedures. We also use charts and graphs to show infection rates, skin integrity, falls within the facility, budget concerns, and many more. These graphs help hospital personal improve care and safety to provide quality care to all patients. Graphs can also be used to measure patient and employee satisfaction.
Test scores show more comparisons but other measurements show how well the school is performing.
Data Collection: Compare C-PASS students and general education students’ scores. Identify the mean to see if scores are comparable with one stand deviation above and below the mean.
Statistics is a mathematical science pertaining to the collection, analysis, interpretation or explanation, and presentation of data. It is applicable to a wide variety of academic disciplines, from the physical and social sciences to the humanities. Statistics are also used for making informed decisions and misused for other reasons in all areas of business and government. Statistical methods can be used to summarize or describe a collection of data; this is called descriptive statistics. In addition, patterns in the data may be modeled in a way that accounts for randomness and uncertainty in the observations, and then used to draw inferences about the process or population being studied; this is called inferential statistics. Both
Research statistical data in a business context that requires a decision. Use probability concepts to formulate a decision.