The use of statistical analysis techniques is essential in the collection of different types of data. Statistical analysis is the science of collecting, organizing, exploring, and analyzing data. It also involves the analysis of trends and patterns from the data. Moreover, it applies extensively to sciences such as physics, other social studies, and testing of hypotheses. Additionally, it provides an approximation of unknown figures that are impossible or difficult to measure. There are different types of statistical analysis. They include descriptive, inferential, prescriptive, predictive, causal, exploratory, and mechanistic analysis. Consequently, many businesses and organizations rely on statistical analysis results to forecast trends and reduce risks.
statistical analysis techniques and types of data
STATISTICAL ANALYSIS TECHNIQUES OF PROCESSING DATA
There are five basic statistical analysis techniques. These are mean, regression, standard deviation, hypothesis testing, and sample size determination. Mean is commonly referred to as average. It involves the addition of numbers then the division by the number of items in the list. Furthermore, this method allows the determining of the trends and patterns from a data set. Standard deviation is a method that measures the spread of the different types of data around the mean. Additionally, it helps to determine the dispersion of data points. Contrastingly, regression is the relationship between a dependent variable and an independent variable. Moreover, it implies that the outcome depends on one or more variables.
statistical analysis techniques of processing data
THE TYPES OF DATA IN STATISTICS
Data are the facts and figures available for measurement in statistics. Primarily, there are two types of data in statistics. These are primary and secondary data. Primary data is the data from firsthand sources such as researchers through experiments, surveys, taking measurements, and questionnaires. It often provides accurate measurements for the analysis of trends and patterns. Also, the use of statistical analysis techniques to evaluate primary data tends to provide more accurate results than secondary data. Furthermore, the sources of primary include personal investigation, questionnaires, local sources, and the internet. Secondary data is data that is a result of statistical treatment. Sources of secondary data include the internet, governmental organizations, and research organizations.
the types of data in statistics
Additional attachments
>> Download
