what is the need of studying stats?how does it help us in our daily life?

Question

i want to understand how all these graphical reprasentations are used in our daily life.i want to know for what purpose people use it

Answer 1

Graphical representations of statistical ideas are vital in the understanding of quantum mechanics. Though individuals may not apply them daily, most of the electronics including the computer you are using to read this rely heavily on quantum mechanical ideas of electronics. Also, like most ideas in math, stats isn't a necessity to know, but knowing can help you understand certain things better, such as the stock market.

Answer 2

The answer to this question kind of depends on what you do for "daily life". The use of statistics is critical to understanding the physical world. Experiments, except for the most simple, rely on statistics to reach conclusions. Statistics can be used to simplify huge amounts of data into something that can be understood and used. A person in any technical field would be handicapped without the ability to wield statistics.

Graphical representations are a way to take incomprehensible tables of numbers and turn them into something that easily conveys an idea, relationship, or effect. A good graph is simple and concise, uses appropriate colors (colors carry emotional impact), is clearly labeled, and supports the conclusions of the author.

If I tried to convince you that, say, car gas mileage peaks at some driving speed, would you rather look at a table with 100 numbers showing driving speed versus gas mileage, or a smooth line on a graph, with mileage on the ordinate and speed on the abscissa, peaking at 52 mph? This is a simple example, but very complex relationships can be simplified and understood by using statistics.

Answer 3

By studying statistics we are able to pass examinations that qualify us for degrees/diplomas, enabling us to obtain higher paying employment. Also, we can understand how some decision makers study the world, and we can analyse statistical statements in the media to decide for ourselves whether the conclusions drawn are valid (after studying stats you'll be amazed how many misleading or inaccurate statements appear!).

Statistics are essential in industrial quality control. If we don't understand how this works, we will likely fall behind our competitors.

Answer 4

The statistics used in many ways :

1. For census reviews, if population is high then steps are taken to reduce it.
2. Used in share market to predict the prices of stocks. Share market uses techniques known as "Correlation and Regression".
3. Used by HIV Control Department to predict the number of HIV in future, so that it can be controlled.
4. Even you can use daily statistics for your expenses and make graphs, which makes you to take quick decision to control your expenses.
5. Used by companies to show their profits and losses, the graph makes it easier to understand the problem for losses.
6. Used by police to identify the crime rates in the city.
7. Used by fire department to identify the most vulnerable area, the area which is prone to fire.
8. and lots n lots of uses man.

Answer 5

statistics is essential for weather forecasting, technical analysis in securities market, election forecast, opinion polls and market research.

Answer 6

You learnt ABC.. in nur. Now tell me have you make any use of ABC... in your daily life.