Inferential Statistics.pptx

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Statistics is a branch of mathematics that deals with the science of collecting, organizing, presenting, analyzing, and interpreting data to assist in making more effective decisions. Descriptive Statistics A statistical method concerned with the collection, organization, presentation and description of sample data. Inferential Statistics Concerned with the analysis of a sample data leading to prediction, interpretation, conclusion about the entire population. The entire set of individuals or objects of interest or the measurements obtained from all individuals or objects of interest. It is denoted by N.

Economy & Finance

Preparedby:
Wasif AliSyed
Bs4th(Accounting&Finance)

• Define Statistics
• Types of Statistics
• What is Sample and Population
• Types of Variables

DEFINITION OF STATISTICS
Statistics
is a branchofmathematics thatdeals withthe
science of collecting, organizing,
presenting, analyzing, and
interpreting data to assist in making
more effective decisions.

Let usEXPLOREmore about how
STATISTICSworks…
You are requested by your
Statistics Teacher to go to the
National Statistics Office (NSO)
and get a copy of the population
data of the Philippines from
January 2006 to December 2014.
You are required to produce a
comprehensive report about the
said topic. How will you go about
preparing the report to your
Statistics Teacher within the
specified period of time?

YEAR POPULATION IN PH
2006 85.26 M
2007 86.97 M
2008 88.71 M
2009 90.46 M
2010 91.02 M
2011 92.60 M
2012 94.80 M
2013 97.10 M
2014 98.80 M

• Basedon the data patterns, the population
of the country will increaserapidly.
• If the populace would be productive,
increasing population would not prevent
economic development.
INTERPRETATION OF DATA/
DRAWING CONCLUSIONS/ MAKING
DECISIONS FROM THE DATA

DescriptiveStatistics
Astatisticalmethodconcernedwiththecollection,
organization,presentationanddescriptionofsampledata.
BRANCHESOF STATISTICS

BRANCHESOF STATISTICS
DescriptiveStatistics
TheNSO conductssurveysto determinethe
averageage,income,andothercharacteristicsof
theFilipino people.

DIVISIONS OF STATISTICS
InferentialStatistics
Concernedwiththeanalysisofasampledataleadingto
prediction, interpretation, conclusionabouttheentire
population.

InferentialStatistics
• Thenumberofinternetdevicesin 1984was 1,000.
In1992,itbecame1,000,000.And in2008,
1,000,000,000.Whatcanyou predictfromthis
data?
DIVISIONS OF STATISTICS

Population
The entire set of individuals or objects of
interest or the measurements obtained
from all individuals or objects of interest.
Itis denotedby N.
POPULATION VS SAMPLE

Population
• thefacultymembersoftheUniversityofGujrat
• Facebookusers worldwide
POPULATION VS SAMPLE

Sample
A portion, or part, of the population of
interest.
Itis denotedby n.
POPULATION VS SAMPLE

POPULATION VS SAMPLE
Sample
• selectedstudentsfromCommerceDepartment
• selectedemployeesina company

VARIABLE
Observable characteristicsor phenomenaofa person
orobject wherebythemembersofthegrouporsetvary
fromone another.

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With the advancements in genetic information, it has become easier to detect the genetics of people and even their family histories before hand. Due to genetic variation among individuals certain diseases are common among individuals belonging to certain families or races. Similarly certain genetic diseases can be detected before hand in prenatal life of an individual with the use of genetic testing methods. For example Sickle Cell anemia is more common among black Americans as compared to White Americans and can be detected before hand in prenatal life. These genetic variations either beneficial or not give ways to discriminate individuals. Genetic variations that may cause discrimination among individuals are Certain genetic diseases including hemophilia, Sickle cell anemia, Thalassemia’s Certain genetic traits i.e. skin complexion leading to discrimination among individuals especially White and Black Americans. It does not covers the discrimination being practiced at schools, housing schemes, mortgages and many other disciplines of life. GINA also does not protect against genetic discrimination in forms of insurance other than health insurance, such as life, disability, or long-term care insurance

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Intangible Asset An intangible asset is an asset that is not physical in nature. Goodwill, brand recognition and intellectual property, such as patents, trademarks, and copyrights, are all intangible assets. Intangible assets exist in opposition to tangible assets, which include land, vehicles, equipment, and inventory. Recognition and Cost of Intangible Assets (IAS 38) An intangible asset is recognized when it meets all of the criteria below (IAS 38.18,21): Identifiability Probability of future economic benefits, Control over the future economic benefits, The general concept of control is discussed in the Conceptual Framework for Financial Reporting. The most common specific application of the control criterion in intangible assets relates to training expenditures and employees expertise, which normally cannot be recognized as assets because of insufficient control over the expected future economic benefits (IAS 38.15) Research is original and planned investigation, undertaken with the prospect of gaining new scientific or technical knowledge and understanding. An example of research could be a company in the pharmaceuticals industry undertaking activities or tests aimed at obtaining new knowledge to develop a new vaccine. The company is researching the unknown, and therefore, at this early stage, no future economic benefit can be expected to flow to the entity. Development is the application of research findings or other knowledge to a plan or design for the production of new or substantially improved materials, devices, products, processes, systems, or services, before the start of commercial production or use. An example of development is a car manufacturer undertaking the design, construction, and testing of a pre-production model.

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