Lecture focuses on the application of statistics in data analysis collected from observed phenomena in society, natural occurrence, and experimental data. Statistics is a branch of mathematics that is crucial and important in all disciplines. Statistical procedures and tools transform ordinal and nominal data to meaningful outputs that communicate to users in the way they understand. Output process significant values and charts which explain the nature of phenomena under investigation.
The lecture gives a recap of previous studies for the unit which dealt with descriptive statistics, measures of central tendency, and inferential statistics. Descriptive statistics and measures of central tendency are the most basic skills and procedures established on the first topics of the statistical unit. Descriptive statistics can be processed as charts, tables, or significant values. Measures of central tendency include mean, mode, range among others; the tree mentioned being the most prominent. Charts include pie-chart, histogram, bar-graphs, line-graphs, stock, doughnut-chart, scatter, and pivot tables and charts.
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After learning basics and descriptive analysis, students are introduced to inferential statistics. Inferential statistics refers to statistical analysis procedures which give significant values used in making a decision. In research, inferential statistics are applied through a process known as hypothesis testing. The conclusion made based on output from data is mainly based on significant values like calculated critical value, p-value, and f-value. There are several types of test statistics described today that enable researchers to evaluate phenomena using a wide array of data. To mention the basic and widely applied tests for beginners are chi, t-test, ANOVA, and z-score. Correlation and regression analysis is an inferential test which defines the significance and nature of association on observed to one or more factors associated with what has been observed. The lecture was of great importance to my professional and would review most of the key principles, ideas and ideologies captured.
Reference
BUS308 Week 4 Lecture 1. (2020). Lecture Handout [pdf]
