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Published On: Fri, Jun 5th, 2020

Understanding the Application of Statistics in Real Life

Statistics is known as a branch of mathematics, used for analyzing what is happening around the globe. This discipline handles the collection and representation of data. Statistics compares data through three disciplines, namely mode, median, and mean. It helps in getting the accurate and proper information regarding all that is happening in the world.  The use of statistics determines all the information and there are various ways online to learn all that. When you browse the internet, you will get all the basics of statistics and find more

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Below you will find the different ways statistics are applicable in real life:

  • Statistics can be useful in all medical studies. It helps doctors to track babies’ mental development; physicians can also use statistics to know about the effectiveness of their treatment. 
  • It is possible to know about forecasts using statistics. It helps in observation, mathematical prediction, and analysis. All the weather forecast models use statistics for comparing weather conditions, especially the current and forecast in the future.
  • When a company makes thousands of products, they need to ensure that they have their quality tested. It is imperative to ensure that the products sold are of good quality and adhere to all the procedures and processes. Most companies cannot test each product, so they will need to use a quality test to aid with the statistics. 
  • The stock market used statistical computer models for stock analysis. Most of the stock analysts get all the information they need by using statistics concepts. Statistics help retailers to track what they sell and to know the stock using statistics. Most retailers all over the world use statistics for calculating the products that need to be shipped and will know when to do that. 
  • Statistics helps in making predictions; it will be possible to know what will happen in the future. It helps us to understand what we will encounter in our daily lives. To get accurate predictions, it entirely depends on several factors, such as internal and external factors. Most statisticians use statistical techniques to know about a future phenomenon. 

Experts such as artists, engineers, business leaders, and doctors use statistics to predict their future. Doctors use statistics to know about the future of disease; they will know about a flu breakout. It helps during the winter season to understand what breakout to expect. Engineers use statistics to predict the success of any ongoing project, and statistics will help to know how long it will take to complete a project. Politicians also use statistics to know about the future and make vital decisions. 

  • Statistics help with census; the government and other institutions use it. Census data helps the government and other non-government organizations to understand all the population characteristics. The data derived helps in getting different inferences through the census process. 
  • Sampling is an important concept derived from statistics; the uses applied to a sample of the whole population. A sample helps in understanding the entire population. It belongs to a group of people and derived from statistics and research. The application is in various industries and businesses. Sampling helps in understanding the characteristics of the population. 

The data derived from the census is always collected to know the different parameters of the population. It helps in understanding various population features and hence be able to predict the future. Sampling used in the field of medical science helps in predicting the prevalence and characteristics of a disease. 

Statistics is a vital part of our lives. It helps in sorting out world problems and understanding its role in the world. Statistics help to know what happened in the pst and what will happen in the future. 

Author: Hermione Zoi

photo/ Gerd Altmann

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