Professional Documents
Culture Documents
Scope of Statistical
Methods for Economic
Analysis
ECN 2331
Statistics: Theory and Techniques for Economics
Structure
Nature
of Statistics
Statistics
Types
Data
of Data
Sources
Nature of Statistics
Nature of Statistics
Nature of Statistics
EXAMPLE 1
This
is descriptive statistics.
This
is statistical inference.
In
Regression
To determine
For
This
of index numbers
Situations
evaluation
Many
These
Forecasting
Statistical
This
Statistical
In
other words, Data are the facts and figures that are
collected, summarized, analyzed, and interpreted.
The
Any
Qualitative Data
Quantitative Data
Quantitative
Time
data are secondary in the sense that they already exist in some form published
or unpublished in an identifiable secondary source
Primary
data, on the other hand are those that do not already exist in any form and thus
have to be collected for the first time from primary sources
By
their very nature, these data require fresh and first-time collection covering the whole or a
sample drawn from it.
As preparation for the next class, I want you to revise the rules of
operation as covered in your first year elementary algebra course;
Refer
to any standard statistics or algebra text book for which you might have
access to.
15