Here is the Introduction to Business Analytics Part 5. Published by Beamsync, top training institute for "business analytics" related courses. If you are looking business analytics training in bangalore, visit Beamsync. For more details visit: http://beamsync.com/business-analytics-training-bangalore/

1. INTRODUCTION TO ANALYTICS
Part 5

2. STATISTICAL CONCEPTS AND THEIR
APPLICATIONS IN BUSINESS

3. After completing
this course, you will
be able to
understand:
AGENDA
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Statistical Methods overview
Population and Samples
Developing a sampling plan and Sampling Methods
What is Descriptive Statistics
What are its components
Business usage of Descriptive Statistics via a Case Study
Probability theory and distributions
Confidence Interval
The concept of tests of significance
One sided and two sided hypothesis testing
The various tests of significance
Non parametrictesting

4. STATISTICAL METHODS
DescriptiveStatistics
• Sample
• Measure of Central Tendency
• Measure of Dispersion
Inferential Statistics
• Population
• Estimation
• Hypothesis Testing
• Statistics is a applied/business mathematics which estimate the present and predict the
future.

5. POPULATION AND SAMPLES
• A population is any entire collection of objects or observations from which we may collect data. It is
the entire group we are interested in, which we wish to describe or draw conclusions about.
• For each population there are many possible samples.
• It is important that the investigator carefully and completely defines the population before
collecting the sample, including a description of the members to be included.
• A sample is a group of units selected from a larger group (the population). By studying the sample it
is hoped to draw valid conclusions about the larger group.
• A sample is generally selected for study because the population is too large to study in its entirety.
The sample should be representative of the general population. This is often best achieved by
random sampling.

6. DEVELOPING A SAMPLING PLAN
• Define the target population – in terms of number of elements, sampling unit, extent and time.
• Select a sampling method – probability or non-probability sampling.
• Obtain the sampling frame – must contain all the potential factors.
• Determination of sample size – for desired level of accuracy.
• Choose data collection method – procedure to obtain the data.
• Develop operational plan – which technique fits the best.
• Execute operational plan – verification of specified procedure.

7. SAMPLING TECHNIQUES
Sampling
Simple
Random
Systematic Stratified Cluster
Convenience Judgmental Quota Snowball
Probability Non-Probability

8. DESCRIPTIVE STATISTICS
Score
Range
Numberof
Students
Below40 20
40-50 22
50-60 33
60-70 21
70-80 13
>80 5
Total 114
Below 40-50
40
50-60 60-70 70-80 >80
● Help describe, show and summarize data in a meaningful manner
● Non-conclusive as it is only limited to the data being analysed
Number ofStudents
35
30
25
20
15
10
5
0

9. MEASURE OF CENTRAL TENDENCY
Measure of CentralTendency
• Mean
• Median
• Mode
● Identify with a single value
● Also called measures of central location

10. Thank You
If you are looking for business analytics training course in
Bangalore then visit: http://beamsync.com/business-analytics-
training-bangalore/
Next Part We will Publish Soon.