The importance of statistics is great. Statistics provide detailed information about situations. Health statistics help researchers learn what treatments work well or not. Numbers don't lie. Statistics is an important part of life. They allow us to analyze information on a very basic level. Statistics help us understand the world around us and the frequency that things happen. When reading statistics keep in mind that they are only as good as the information used to compile them and their source. Statistics can be skewed in different ways.
Whether designing new products, streamlining a production process or evaluating current vs. prospective customers, today’s business managers face greater complexities than ever before. Running a shop on instinct no longer suffices. Statistics provide managers with more confidence in dealing with uncertainty in spite of the flood of available data, enabling managers to more quickly make smarter decisions and provide more stable leadership to staff relying on them.
Statistics play an important role in economics. Economics largely depends upon statistics. National income accounts are multipurpose indicators for the economists and administrators. Statistical methods are used for preparation of these accounts. In economics research statistical methods are used for collecting and analysis the data and testing hypothesis. The relationship between supply and demands is studies by statistical methods, the imports and exports, the inflation rate, the per capita income are the problems which require good knowledge of statistics.
Astronomy is one of the oldest branch of statistical study, it deals with the measurement of distance, sizes, masses and densities of heavenly bodies by means of observations. During these measurements errors are unavoidable so most probable measurements are founded by using statistical methods.
No comments:
Post a Comment