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Statistical Methods and Data Analysis

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Questions and Answers

What is the Singular Sense of statistics?

First ever census done in Egypt

Qualitative or quantitative data collected for statistical analysis

Word origin in Latin, Italian, German, and French

Scientific method used for collecting, analyzing and presenting data (correct)

Where did the word 'statistics' originate from?

Latin word – Status (correct)

German word – statistic

French word – statistique

Italian word – Statista

What is a limitation of statistics?

Can only be used for quantitative data, not qualitative

Based on conditions/assumptions and any change will change the projection

Relevant for aggregate data and not individual data (correct)

Used for business decisions and policy making

Which field uses statistics for Time Series analysis and regression analysis?

<p>Economics</p> Signup and view all the answers

What does 'inferences' mean in the context of statistics?

<p>Conclusion reached on the basis of evidence and reasoning</p> Signup and view all the answers

Study Notes

Definition of Statistics

The singular sense of statistics refers to the mathematical science that deals with the collection, analysis, interpretation, presentation, and organization of data.

Origin of the Word 'Statistics'

The word 'statistics' originated from the German word 'Statistik', which means "the science of state affairs".

Limitations of Statistics

One limitation of statistics is that it can be misused or misinterpreted, leading to incorrect conclusions or decisions.

Applications of Statistics

The field of Economics commonly uses statistics for Time Series analysis and regression analysis to understand and forecast economic trends and patterns.

Inferences in Statistics

In the context of statistics, inferences refer to the process of making informed decisions or conclusions based on a sample of data, about a larger population or phenomenon.

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Description

Test your knowledge of statistical methods and data analysis with this quiz. Learn about the scientific method used for collecting and analyzing data, drawing statistical inferences, and reaching conclusions based on evidence and reasoning.