A181 SQQS1013 AC6 The Importance of Statistics

By AoMa | Updated: Oct. 2, 2018, 10:12 a.m.

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the importance of statistics
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introduction of statistics
Statistics is a kind of mathematical thought. It is also a way of understanding objective things, describing life phenomena and solving problems. Learning statistics, on the one hand, is to understand and master some basic statistical knowledge and methods.

On the other hand, it is necessary to experience statistical analysis. Problems, awareness of problem solving, and development of statistical concepts. The focus of this part of the education is to let students experience the process of simply collecting, organizing and describing the analysis of data in order to lay the foundation for students to further study the content of statistics and probability.

The Importance Of Statistics
1.Everybody watches weather forecasting. Have you ever think how do you get that information? There are some computers models build on statistical concepts. These computer models compare prior weather with the current weather and predict future weather.

2.Statistics mostly used by the researcher. They use their statistical skills to collect the relevant data. Otherwise, it results in a loss of money, time and data.
3) What do you understand by insurance? Everybody has some kind of insurance, whether it is medical, home or any other insurance. Based on an individual application some businesses use statistical models to calculate the risk of giving insurance.

4) In financial market also statistic plays a great role. Statistics are the key of how traders and businessmen invest and make money.
5) Statistics play a big role in the medical field. Before any drugs prescribed, scientist must show a statistically valid rate of effectiveness. Statistics are behind all the study of medical

6) Statistical concepts are used in quality testing. Companies make many products on a daily basis and every company should make sure that they sold the best quality items. But companies cannot test all the products, so they use statistics sample.

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7) In everyday life we make many predictions. For examples, we keep the alarm for the morning when we don’t know that we will be alive in the morning or not. Here we use statistics basics to make predictions.

8) Doctors predict disease on based on statistics concepts. Suppose a survey shows that 75%-80% people have cancer and not able to find the reason. When the statistics become involved, then you can have a better idea of how the cancer may affect your body or is smoking is the major reason for it.

9) News reporter makes a prediction of winner for elections based on political campaigns. Here statistics play a strong part in who will be your governments.

10) Statistics data allow us to collect the information around the world. The internet is a devise which help us to collect the information. The fundamental behind the internet is based on statistics and mathematics concepts.

Numerical statistics

Numerical statistics are numbers, but clearly, some numbers are more meaningful than others. For example, if you are offered a purchase price of $1 for an automobile on the condition that you also buy a second automobile, the price of the second automobile would be a major consideration (its price could be $1,000,000 or $1,000); thus, the average—or mean—of the two prices would be the important statistic.

TYPES OF STATISTICS
Taking numerical data and presenting it in pictures or graphs is known as pictorial statistics. Showing data in the form of a graphic can make complex and confusing information appear more simple and straight‐forward. Different types of graphs are used for quantitative and categorical variables.

Pictorial statistics

A181 SQQS1013 AC6 The Importance of Statistics

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