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Statistical Tools used in Research
Central University of Himachal Pradesh
Page 2


Statistical Tools used in Research
Central University of Himachal Pradesh
Statistics Defined Correlation Hypothesis
• Hypothesis : 
Alpha
• Hypothesis : 
Beta
Chi-Square Test of 
Independence
Regression 
analysis
Factor Analysis
References 
Page 3


Statistical Tools used in Research
Central University of Himachal Pradesh
Statistics Defined Correlation Hypothesis
• Hypothesis : 
Alpha
• Hypothesis : 
Beta
Chi-Square Test of 
Independence
Regression 
analysis
Factor Analysis
References 
Statistics is the science and practice of developing human knowledge through the use of
empirical data expressed in quantitative form. It is based on statistical theory which is a branch
of applied mathematics. Within statistical theory, randomness and uncertainty are modelled by
probability theory. (Wikipedia Encyclopaedia)
Whatisstatistics?
? The collecting, summarizing, and analysing of data.
? The term also refers to raw numbers, or “stats”, and to the summarization of data.
Example: Frequencies
Page 4


Statistical Tools used in Research
Central University of Himachal Pradesh
Statistics Defined Correlation Hypothesis
• Hypothesis : 
Alpha
• Hypothesis : 
Beta
Chi-Square Test of 
Independence
Regression 
analysis
Factor Analysis
References 
Statistics is the science and practice of developing human knowledge through the use of
empirical data expressed in quantitative form. It is based on statistical theory which is a branch
of applied mathematics. Within statistical theory, randomness and uncertainty are modelled by
probability theory. (Wikipedia Encyclopaedia)
Whatisstatistics?
? The collecting, summarizing, and analysing of data.
? The term also refers to raw numbers, or “stats”, and to the summarization of data.
Example: Frequencies
Allows an examination of the relationship between variables; is there a relationship between 
these variables? Are they positively or negatively related? 
A correlation coefficient of 0 means that there is no relationship between the variables, -1 
negative relationship, 1 positive relationship.
Important: Correlation is not causation.
•"Correlation Is Not Causation" ... which says that a correlation does not mean that one thing causes the other (there 
could be other reasons the data has a good correlation).
Ex. What is the relationship between exercise and depression? 
•Does depression increase when exercise increases? 
•Does depression decrease when exercise increases? 
•Is there no significant correlation between exercise and depression? 
Page 5


Statistical Tools used in Research
Central University of Himachal Pradesh
Statistics Defined Correlation Hypothesis
• Hypothesis : 
Alpha
• Hypothesis : 
Beta
Chi-Square Test of 
Independence
Regression 
analysis
Factor Analysis
References 
Statistics is the science and practice of developing human knowledge through the use of
empirical data expressed in quantitative form. It is based on statistical theory which is a branch
of applied mathematics. Within statistical theory, randomness and uncertainty are modelled by
probability theory. (Wikipedia Encyclopaedia)
Whatisstatistics?
? The collecting, summarizing, and analysing of data.
? The term also refers to raw numbers, or “stats”, and to the summarization of data.
Example: Frequencies
Allows an examination of the relationship between variables; is there a relationship between 
these variables? Are they positively or negatively related? 
A correlation coefficient of 0 means that there is no relationship between the variables, -1 
negative relationship, 1 positive relationship.
Important: Correlation is not causation.
•"Correlation Is Not Causation" ... which says that a correlation does not mean that one thing causes the other (there 
could be other reasons the data has a good correlation).
Ex. What is the relationship between exercise and depression? 
•Does depression increase when exercise increases? 
•Does depression decrease when exercise increases? 
•Is there no significant correlation between exercise and depression? 
? Correlation is Positive when the values increase together, and
? Correlation is Negative when one value decreases as the other increases
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FAQs on PPT - Use of Statistical Tools - Economics Class 11 - Commerce

1. What are statistical tools and why are they important in data analysis?
Ans. Statistical tools refer to a set of techniques and methods used to analyze and interpret data. They are crucial in data analysis as they help in organizing, summarizing, and interpreting complex data sets, making it easier to identify patterns, trends, and relationships within the data.
2. What are some commonly used statistical tools in data analysis?
Ans. There are several commonly used statistical tools in data analysis, including: - Descriptive statistics: These tools, such as mean, median, and standard deviation, help summarize and describe the main characteristics of a data set. - Hypothesis testing: It allows researchers to make inferences about a population based on sample data, helping to determine if there is a significant difference between groups or variables. - Regression analysis: It examines the relationship between a dependent variable and one or more independent variables, enabling prediction and understanding of the impact of the independent variables on the dependent variable. - ANOVA (Analysis of Variance): It compares means between multiple groups to determine if there are any statistically significant differences. - Chi-square test: It assesses whether there is a significant association between two categorical variables.
3. How can statistical tools help in decision-making and problem-solving?
Ans. Statistical tools play a crucial role in decision-making and problem-solving by providing objective and evidence-based insights. These tools help in identifying trends, patterns, and relationships within data, allowing decision-makers to make informed choices. They also help in evaluating the effectiveness of interventions or strategies by analyzing and comparing data before and after implementation. Statistical tools enable organizations to quantify uncertainties, assess risks, and make data-driven decisions, leading to improved problem-solving and decision-making processes.
4. Are statistical tools only used in scientific research and academia?
Ans. No, statistical tools are not limited to scientific research and academia. They are widely used in various fields, including business, healthcare, finance, market research, and quality control. In business, statistical tools are employed to analyze sales data, customer behavior, and market trends. In healthcare, these tools are used for clinical trials, patient outcome analysis, and epidemiological studies. Statistical tools are extensively utilized in finance for risk analysis, portfolio management, and investment decision-making. Overall, statistical tools have broad applications across different industries and sectors.
5. How can individuals learn to use statistical tools effectively?
Ans. Individuals can learn to use statistical tools effectively through various means. Taking courses or pursuing a degree in statistics or data analysis can provide a solid foundation in statistical techniques. Online tutorials, webinars, and video lectures are also readily available resources for learning statistical tools. Additionally, practicing with real-world datasets, participating in data analysis competitions, and seeking guidance from experienced statisticians can enhance one's understanding and proficiency in using statistical tools. It is important to engage in hands-on practice and apply statistical tools to different scenarios to develop a practical understanding of their application.
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