Larger samples would produce a better quality of results, but larger samples cost more money and are sensitive to the law of diminishing returns. Yet, the human experience cannot be ignored. The main advantage of statistics is that information is presented in a way that is easy to analyze, which makes its conclusions easily accessible. Advantages of Using Inferential Statistics. For example, the size of the sample used in market research is a factor. 1. Inferential statistics are used by many people (especially scientist and researcher) because they are able to produce accurate estimates at a relatively affordable cost. Most of us in the class, if we listen to the wise advise of our professors (and aren’t total masochists), will probably be using existing statistics or secondary data analysis. Statistics are the key of how traders and businessmen invest and make money. This software is one of the most popular statistical packages which can perform highly complex data manipulation and analysis with simple instructions. The human experience causes two different people to see the same event in two different ways. Two main sources of official statistics are the government and its departments, and surveys. Types of Statistical Data: Information on any field, when expressed qualitatively and/or quantitatively, is called data and they are usually classified into two main categories—primary and secondary data, depending on their origin or source. They are cheap for researchers to use because they are collected by governments, who often make them available online for free—for example, the UK Census. In terms of simple summary statistics for data populations, the three "C's" [Communication, Credibility, and Convergence (on "truth")] are reasons why statistics are important in research. The Benefits of Using SPSS for Survey Data Analysis Inferential statistics have different benefits and advantages. Updated: Jun 11. Official statistics can be produced as a by-product of the normal workings of a government department, but they can also result from research designed specifically to produce them. Numeral outcome prediction such as linear regression. Outline and explain two practical advantages of using official statistics Official Statistics are a quick and cheap means of accessing data relevant to an entire population in a country. Assess the Advantages and Disadvantages of Official Statistics Official statistics are quantitative data produced by local and national government bodies, and can cover a wide range of behaviour including births, deaths, marriages and divorce, income, crime, and work and leisure. When working in fields such as science or medicine, trials are needed, and experimental data has to be collected and analyzed. Bivariate statistics, including methodologies such as analysis of variance (ANOVA), means, correlation, and nonparametric tests. Prediction for identifying groups, including methodologies such as cluster analysis and factor analysis. Importance and benefits of SPSS in research. Facts are important. When determining the data collection methods to use for your study, it is important to weigh the advantages and disadvantages of each method you are considering. SPSS statistics is a software package used for logical batched and non-batched statistical analysis. Statistics play an important role in research of almost any kind because they deal with easily-quantified data. Before any drugs prescribed, scientist must show a … ADVERTISEMENTS: In this article, we propose to discuss the types, advantages, limitations, precautions and examples of statistical data. 5) Statistics play a big role in the medical field. Statistics can identity trends. A precise tool for estimating population While using statistics to make decisions is helpful, it has limitations. 1.
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