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What Is Statistics? Describe Importance Of Statistics In Different Fields?

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    A statistic is the result of applying a proper function (algorithm) to a set of data available to us. Its statistical theory defines statistic as a function of a sample or a selected thing where the function itself is independent of the sample's distribution and separation. Statistics can be used in various fields from simple to complex. We may use it for counting things. We may use it in mathematics. Its main use is in research tasks. It makes our data compilation easier than ever before. It is all about simplification of things in a real world. It is playing a vital role in calculations in science subjects. It is helpful to keep and improve the record of an organization. Business management is incomplete without education of statistics. This shows that statistics is playing a role in all of the fields, it has a role in buying fruits from markte and it has a role in a big business deal as well. So we cannot deny its important and animated role in any way.
    1 0

    Batool 

    answered 3 years ago

      The word statistics have been derived from the Latin word status or the Italian word "statista". Both the word means a political state. The word statistic is also found used by Shakespeare and Milton in the same of states men i.e. a person well versed in the affairs of the state. Its originally meant information useful to the state.

      Statistics has come to play an important role in almost every field of life and human activity. There is hardly any field where statistical data or statistical methods are used for one purpose or the other our arrival in this world and departure from here are recorded as statistical data somewhere and in same form.

      Statistics plays an important role in business, because it provides the quantitative basis for arriving at decisions in all matters. All types of banks make use of statistics for a number of purposes. Statistics has proved to be of immense use in physics and chemistry. It has given a new understanding to the essential qualities of the laws of nature.

      Statistics plays an important in psychology and education. In experimental psychology, whenever a problem has to be studied, it has to be based on a sample. Statistical methods are also used in analyzing the experimental data and drawing conclusions there from.

      We have seen that statistics now holds a central position in almost every field and the importance of statistics is increasing day by day.
      1 0

      Jkaren 

      answered 3 years ago

        Statistics is a mathematical science involving the collection, interpretation, analysis, and presentation of data. It is often used to make predictions based on data. It is widely applicable in various social and natural sciences as such as political science and medicine as well as in business such as the insurance industry.
        For example, statistics are a very important part of political campaigns as they lead up to elections. Every time a scientific poll is taken, statistics are used to calculate and illustrate the results in percentages and to calculate the margin for error.
        Statistics are also used in psychology. People’s behavior can be measured on a bell curve. Most people fall within acceptable ranges of the bell curve. However the people who fall outside "the norm" or on the "fringe" of the bell curve may be considered unstable.
        Statistics are very important in various aspects of business; a terrific example is the insurance industry. It is the job of an actuarial scientist to determine how long people will live (statistically), how likely they are to have an accident, and how likely is it their home will burn down or be damaged in a hurricane? These risks are all rated based solely on statistical data and policies are priced accordingly.
        2 1

        Behealthy 

        answered 1 year ago

        I hope that the answer is match into the question....thanks!!!!!
        Report
        Wilmzkie

        Wilmzkie

        commented 10 months ago

        Uses of statistics in agriculture,ict,economic development and education
        Report
        Awo2412ojd

        Awo2412ojd

        commented 9 months ago

        First 2 lines have been cheated frm wekipidia.com
        Report
        Sadafsyed

        Sadafsyed

        commented 5 months ago

        Importance of statistics
        1 0
        Guest

        Guest 

        answered 5 months ago

        Like most people, you probably feel that it is important to
        0 0

        Mjis_2007 

        answered 2 years ago

          An analysis of understanding which makes complex visualities to simpler ones
          0 0

          Joabada 

          answered 2 years ago

          Discuss its importance in economic analysis using illustrations.
          0 0
          Guest

          Guest 

          answered 8 months ago

          Discuss its importance in economic analysis using illustrations.
          0 0
          Guest

          Guest 

          answered 8 months ago

          Discuss its importance in economic analysis using illustrations.
          0 0
          Guest

          Guest 

          answered 8 months ago

          Discuss its importance in economic analysis using illustrations.
          0 0
          Guest

          Guest 

          answered 8 months ago

            Discuss its importance in economic analysis using illustrations.
            0 0
            Guest

            Guest 

            answered 8 months ago

            A coin is tossed and lands on tails. The coin is tossed a second time. What is the probability of the coin landing on tails a second time?
            0 0
            Guest

            Guest 

            answered 6 months ago

            Importance of statistics in politics
            0 0

            Vangeo1 

            answered 5 months ago

            Statistics- is a science that deals with the collection, organization, presentation, analysis of data and interpretable of this result.
            0 0
            Guest

            Guest 

            answered 5 months ago

            Importance of statistics
            0 0
            Guest

            Guest 

            answered 5 months ago

              Importance of statistics in Field of business
              0 0
              Guest

              Guest 

              answered 2 months ago

              A statistic is the result of applying a proper function (algorithm) to a set of data available to us.

              Statistics has come to play an important role in almost every field of life and human activity. There is hardly any field where statistical data or statistical methods are used for one purpose or the other our arrival in this world and departure from here are recorded as statistical data somewhere and in same form.

              Statistics plays an important role in business, because it provides the quantitative basis for arriving at decisions in all matters. All types of banks make use of statistics for a number of purposes. Statistics has proved to be of immense use in physics and chemistry. It has given a new understanding to the essential qualities of the laws of nature.

              Statistics plays an important in psychology and education. In experimental psychology, whenever a problem has to be studied, it has to be based on a sample. Statistical methods are also used in analyzing the experimental data and drawing conclusions there from.
              0 1

              Eranne 

              answered 3 years ago

              Use of economics in statistics
              Report
              Zhelmes

              Zhelmes

              commented 1 year ago

              Is statistics is the most important of all sciences?
              Report
              Jane_1062

              Jane_1062

              commented 5 months ago

              More

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