Statistics tools of data analysis

2. INTRODUCTION
• Statistical analysis is the process of collecting and analyzing data in
order to discern patterns and trends.
• It is a method for removing bias from evaluating data by employing
numerical analysis.
• This technique is useful for collecting the interpretations of research,
developing statistical models, and planning surveys and studies. The
science of collecting, analyzing and making inference from the
collected data.
• statistical analysis is a data analysis tool that helps draw meaningful
conclusions from raw and unstructured data.
• The conclusions are drawn using statistical analysis facilitating
decision-making and helping businesses make future predictions on
the basis of past trends.

3. Types of Statistical Analysis
• Descriptive Analysis
• Inferential Analysis
• Predictive Analysis
• Prescriptive Analysis
• Exploratory Data Analysis

4. Statistical Analysis Process
• Given below are the 5 steps to conduct a statistical
analysis that you should follow:
• Step 1: Identify and describe the nature of the data that
you are supposed to analyze.
• Step 2: The next step is to establish a relation between the
data analyzed and the sample population to which the
data belongs.
• Step 3: The third step is to create a model that clearly
presents and summarizes the relationship between the
population and the data.
• Step 4: Prove if the model is valid or not.

5. STATISTICAL MEASURES
Mean
Mode
Median

6. MEAN
• The mean is the average of all numbers
Mean = Sum of all data valuesNumber of data values
Symbolically,*=EXwhere # (read as ' bar') is the mean
of the set of x values,
It is the sum of all the x values, and n is the number of
x values.
Example• Mean of 10, 20, 30, 40

7. MEDIAN
• When all the observations are arranged in ascending or
descending orders of magnitude, the middle one is the median.
• For raw data, If n is the total number of observations, the value
of the Intlythitem will be called median
.• if n is the even number, the mean of n/2th item and [§ + 1] **
item will be median.
Example: Median of given data 10, 20, 30 is 20MODE

8. MODE
• The Mode is the value of a series which appears most frequently
than any other.
• For grouped data,Mode, Mo=Lo+i-41 2X041+42Where, L is
lower limit of modal class, C is class interval41 is difference
between modal frequency and its preceding classA, is difference
between modal frequency and following class fréquency.
Example: mode of given data 80, 90, 86, 80, 72, 80, 96 is 80

9. THANK YOU