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Quantitative Statistical Techniques: An Overview

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Quantitative statistical techniques are methods used to analyze and interpret data to inform business decisions, solve problems, or understand complex phenomena. These techniques involve the use of mathematical and statistical tools to summarize, analyze, and visualize data. Quantitative statistical techniques are widely used in various fields, including business, economics, finance, healthcare, and social sciences. In the world of business, economics, and social

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Visual Aids: The material is supported by various illustrations, examples, and graphs to aid comprehension. Core Content and Modules

• Correlation: Understand Karl Pearson’s Coefficient of Correlation ($r$) and Spearman’s Rank Correlation. Remember that $r$ ranges between $-1$ and $+1$.
• Regression: This is about prediction. Learn the two regression equations ($Y$ on $X$ and $X$ on $Y$).
• The Golden Rule: The point of intersection of the two regression lines gives the mean values of $X$ and $Y$.

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Inferential Statistics: Using T-tests, ANOVA, and Chi-square tests to draw conclusions about a population based on a sample.