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- What is statistics
- Analytical software used in statistics
- Branches of statistics
- Limitations of statistics
- Functions of statistics in real life situations
- Application of statistics
- Understanding probability distribution
- Historical development of statistics
- Statistical hypothesis testing
- Differences between descriptive and inferential statistics
Statistics is an extensive branch of study that is applied to almost every aspect of human life, such as economic, social and science studies. These disciplines use statistics in one way or another by making use of facts, observations, inquiries, figures, and experiments through statistical methods. Statistics aims at simplifying complex data collected to clear facts by analyzing data and facilitation of conclusions.
Statistics have essential functions in real life situations. These functions include:
Statistics Presents Facts in a Simple Form
Statistics gives a room for easy understanding of indefinite and vague facts and figure. Through statistical study, we can easily represent facts in their true form by using figures. These make the results more convincing than when expressed on a qualitative basis.
Statistics is used for Comparisons
Statistics is used to compare different sets of observations. Through statistics, statisticians draw a comparison between the past and the present results to ascertain reasons for change which may affect the future. Therefore, statistics is a stable branch of study in determining the efficiency of measures. Some of the statistical devices used for comparison are ratios, averages, and coefficients of correlation.
Statistics is used in Policy Making
Statisticians use statistics to formulate favorable policies such as the amount of food to be imported in 2018. To frame this policy on food importation, it is essential for the statisticians to understand the figure produced and the one that is demanded in the year 2018. With such factors, a statistician can quickly estimate the amount of food needed for importation. Statistics is mainly used by the government to form policies concerning food, housing, fuel, etc. The need for statistics in forecasting is essential when framing these policies or else the entire setup might be profoundly affected.
Statistics is used to Measure Uncertainty
Through the use of statistics, statisticians analyze the estimation of a phenomenon to occur in the future. This helps to reduce the uncertainty. Forecasting is well done in statistics through various tools such as time series analysis, regression, and interpolation.
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