Statistical Analysis

Most important basics of statistics

One of the most interesting branches in the field of mathematics is the branch of statistics. Statistics deals with collecting, analyzing, interpreting, presenting and organizing of different data. When we say data, we mean all kinds of data, even designing surveys and experiments.

It is believed that statistics began developing very long ago, even BC. Research show that it all started in the 5th century BC. But the main development happened in the 18th century, when statistics was drawing more heavily from the calculus and some other theories, like for example the relativity theory. Statistics has a huge role nowadays as well, even with all the computer development. There are many programs that operate based on statistics and it is also used in working with big data, which is very popular lately.

That is why, we decided to give you some basic idea about what is actually statistics, how does it work and some other interesting information that you may find useful.

What you first need to know is that there are two main statistical methods which are used in data analyzing. The first one is descriptive analysis and the second one is inferential statistics.

Descriptive analysis is the process of summarizing data from a sample, with the help of using indexes. For example, the use of standard deviation as one part of the descriptive analysis. The inferential statistics on the other hand, focuses on drawing conclusions from data which are a subject to a random variation.

So, how does a standard procedure of statistic analyzing start? This procedure involves testing of a relationship which is created between two sets of statistical data. Another way for this procedure to be done is by comparing a data set and synthetic data. Synthetic data is data which is drawn from an idealized model.

Having in mind that statistics is part of mathematics, many people think that there are no errors in statistics and that all the numbers are always correct. Unfortunately, that is not always the case. Statistical data can sometimes generate information that is not correct. There are several types of errors that can happen during a statistical analyze. Some of them are random, like for example noise, and some of them are systematic, like the bias. Sometimes, even an analyst report can have incorrect units, which then influences on the overall statistical outcome.


The most important thing in statistics and its goal is to understand multiple sets of data. This activity includes plotting the data in many different ways. After that you should summarize the data and analyze what you see, using measures of spread. Some measures of spread are mean and median.

As you can see, there are many small parts of statistics, which build up everything as a whole. If you want to learn statistics, you must have a basic understanding of mathematical logic and calculus. People who don’t like mathematics and natural sciences, won’t like statistic either. You should always start simple, with learning the basics. You will have to think logically and you will not have a problem. In statistics, everything makes sense. It is the most interesting part of mathematics, since it focuses on analyzing situations which happen every day and in our everyday lives.

If you wish to start learning the basics, you can either start reading on the internet or find some interesting online courses on the popular courses pages. Make sure to choose a simple course which will not require basic knowledge in statistics, so that you make sure you understand everything correctly. You will love it.

Travel Statistics

Tour Turkey Statistics 2015Last year Trip Advisor listed Istanbul as the must see location of the year (2014). With the promotional work done on Trip Advisor the world is still seeing a decline in tourism to Turkey from Western Countries. One of the biggest factors though for the market for those looking to tour Turkey has been the significant devaluation of Russian currency with regards to the global currencies of the Dollar and Euro.

The fall of the Russian Rubble has influenced the market and although the WTTC projects a steady growth of income with regards to the Turkish nations GDP and the Travel industry in Turkey this year seeing some difficult circumstances in the media, with regards to the difficulties in neighboring countries and the somewhat disheartening news of wars and refugees.

Russian Ruble Issues lend to decreased tourism intake in Turkey.

Small Businesses Take on Tour Turkey Issues

These influences we believe have skewed the projections regarding tour Turkey statistics. Some smaller businesses can easily see the decrease in sales. Some have seen a direct drop in their tours sold and can attribute most cancellations of tours that would have sold in the past few years to media induced fear.

The upside for the international is that the services and goods available in Turkey are decreased in price. The dollar price for all forms of goods and services are relatively cheaper than they were last year and now is the best time for those who receive their salary in dollars to purchase services in Turkish Lira rates. It may be best for you to consider purchasing tours in country with dollars brought into the country in cash. There could be a lot more to do in the near future for those looking to visit Turkey at a lesser price with greater services.

Opportunity Tourism

Bargain hunters in the tourism industry are often looking for different kinds of services packaged and then resold at a bargain but sometimes it’s better to look at the individual prices and their price reduction. Often times the packagers of tours are dealing with the devaluation of their own currency and yet selling to outside groups turns the previous profit margin into a great opportunity for being the operator of a tour, this is why you have to follow the two lines of the chart what the approximate value is of a service in dollars and then compare the value of what a dollar can buy you at McDonald’s in a given country. There was actually an index created for this in the late nineteen eighties that they called the Big Mac Index.

You can read more about the Big Mac Index in our future post on the Big Mac Index. I hope you’ll take the time to read that as it is a great little tool to decide whether things are being overpriced or currencies are being overvalued in the global economy. In short if a local isn’t willing to pay the amount in dollars that you’re paying for a good in dollars (after exchange) then why should you pay that sum on a good or service.

The only problem is that some countries and regions put greater value on certain goods because of their scarcity or the community’s applied value in social status or stigma in purchasing. A McDonald’s Big Mac may menu in Turkey costs you 15.95 TL with an exchange rate of 2.91 TL : $1 . This means that the dollar value of that Big Mac meal should be that the price of the same meal in the US should be roughly the same as what you get from dividing 15.95 by 2.91 ($5.48). Presently you’re paying closer to $7.85 for a Big Mac Meal in New York State.

Why Follow the ASA?

Statistics are used in marketing on a regular basis. In fact the way in which any given body goes about gathering their statistics is enough to reveal the outcomes they are hoping to see. One does not follow trends in political polling, car accident rate or public opinion regarding any number of topics without hoping to somehow affect a change in the present currents or ride them to their terminus.

 

Whatever the case statistics both add for great infographics and give interesting insight into our modern world. Here’s to hoping you enjoy following us in all the amazing insights we find for you to benefit from from around the web and the ASA.