what are the benefits of using statistical analysis?

Answer 1

Looking at tables of data or graphs are often misleading for two reasons.

First, the data might lead you to think that variable A is correlated with variable B, but statistical analysis is the only way to measure how strong that correlation is.

Second, just because variable A is correlated with variable B does mean that A causes B. Statistical analysis can also test that hypothesis in certain cases.

Answer 2

That's a great question! Many people doesn't know well the use of statistical analysis, let alone understanding how it works! We often fall asleep when statistics lecturer is "on air".

In brief, statistics shows us inference of things around us. It shows us details & big picture of a phenomenon.

Let's say for simple, if you are a basketball fans, how do you know that your favorite player performs well throughout the season? Maybe you will calculate average point, field goals, assist, rebound, etc. then you will know how is is performance. If you want to know whether he has stable performance, you can calculate the standard deviation of above criteria. The lesser the deviation, the more predictable is his performance.

Statistics can also be used in science and research, such as for finding corelation between two or more variables, example: when you want to know whether there is strong corelation between education level, welfare, and crime.

In engineering, such as in production, statistics are used to know the process performance, and to control the process itself. The typical example for this is in quality control system.

In actuarial science, statisticians use statistics to determine the premium of policy given certain limitation.

Statistical analysis gives you accurate and sound basis for decision making.

There are many more things that statistics can do, especially in applied science. Hope you can understand the benefits of statistical analysis.

Answer 3

To identify trends.

For example, if you are in sales you may want to identify how well you are performing in relation to targets set. You can use statistical analysis in your performace reviews with your boss. IE...my sales have increased on average by 20% per month over the past 12 months, whereas employee X has only managed 5%. This is a great tool for justifying a wage increase.

Answer 4

statistical analysis i believe you know is used to draw inference and conclusion about different things, phenomena, events etc.
there you go that explains its importance.
the greatest benefit is that you can predict and analyse to approximate closeness. it is this analysis that helps researches forecast future trends; find out past events; and help institutions run better and make wise decisions.

it is one of the basic requirements for research.

Answer 5

i don't think of the different answer is actual. those are actually not coded as dummies whilst they are coded one million-5, besides the shown fact that in case you utilize the GLM technique in SPSS, you're able to try this. You code them as dummies because of the fact in case you enter them as they are you anticipate that the scores advise some thing and are in an order - i.e. that Hispanic is greater than Asian,. and white is greater than Black. via making dummies, you learn the skill of the communities, that's what you have an interest in. i could advise you examine a e book on regression, that might assist you to understand this. One occasion could be making use of regression and correlation via Jeremy Miles and Mark Shevlin. :)

Answer 6

Limited, because in most cases you are bolting stable doors after the horse has gone, particularly in a manufacturing environment. SA has been demoted in its relevance since ISO9001:1994 was upgraded to ISO9001:2000.

Answer 7

Well it helps the Government the Bureaucracy, the establishment oppress the poor and be righteous with it . Look we have proof . Lies , Lies and statistic vs

Answer 8

Because reliable statics are more accurate to work with ?