BUSINESS STATISTICS (502) QUADescription:
Statistical analysis or, simply Statistics deals with quantitative data. Statistical Analysis is a scientific method of analyzing masses of numerical data so as to summarize the essential features and relationships of the data in order to generalize from the analysis to determine patterns of behavior, particular outcomes or future tendencies. Statistics can be applied in any field in which there is extensive numerical data, not only in accounting and business, but in medicine, engineering, the sciences, public administration and many other area.
Statistical theory is based on the mathematics of probability which provides the basis for determining not only the general characteristics of data, but also the reliability of each generalization. From a business viewpoint the basic steps in statistical analysis include:
- Collecting the data from records or other sources or from sample surveys.
- Analyzing and interpreting the figures by means of statistical techniques.
- Using the calculated results together with probabilities, costs and revenues to make more rational decisions.
- Summarizing Data: Statistical Description
- Random Variables and probability distribution
- Sampling and Sampling distributions
- Statistical Inference: Conference Intervals , Hypothesis Testing
- The Regression and Correlation analysis ,Simple Regression,Multiple Regressions,Correlation Coefficient
- Analysis of Variances
- Introduction to time series
Using SPSS software for statistical applications:
- SPSS Professional Statistics provides more advanced regression techniques, including weighted and two-stage least-squares, logistic regression, and nonlinear regression, plus multidimensional scaling and reliability analysis.
- SPSS Advanced Statistics includes sophisticated techniques such ad general linear models, variance component analysis, loglinear and probit analysis, Cox regression, and Kaplan-Meier and actuarial survival analysis.