Use of Statistics

Statistics is the major branch of mathematics.The majority of students think that why they are studying statistics and what are the uses of statistics in our daily life. They also want to know the importance of statistics in our daily life. Today, I am going to show you what are the uses of statistics in our daily life. They also have a concern about what is the job scope of statistics.

But first, we need to clear the information about what is statistics. There are millions of definitions of statistics. But we would like to give a short and simple definition of statistics; it will help you to get an idea about what are the uses of statistics in daily life.

Statistics is a set of equations that allows us to solve complex problems. These statistical problems in real life are usually based on facts and figures. Sir Ronald Aylmer Fisher, is known as the father of the modern science of statistics. To understand what is statistics better; let’s have a look at the example below:-

Suppose that we have collected a dataset from a group of thousand students. We have obtained their marks in various subjects.

Now we want to calculate how many numbers of students have scored below average numbers. To do this calculation efficiently, we have to take the help of statistics. Let’s Dig in the data about what are the statistical problems in real life.

The statistical problems in real life are comprised of sampling, inferential statistics, probability, estimating, enabling a team to develop effective projects in a problem-solving frame. For instance, car manufacture looking to paint the cars might include a wide range of people that include supervisors, painters, paint representatives, or the same professionals to collect the data, which is necessary for the whole process and make it successful.

Uses of Statistics in our daily life

1. Predictions

The figures help us make predictions about something that is going to happen in the future. Based on what we face in our daily lives, we make predictions.

How accurate this prediction will depend on many factors. When we make a prediction, we take into account the external or internal factors that may affect our future. When they apply statistical techniques to estimate an event, the same statisticians use it.

Doctors, engineers, artists, and practitioners all use statistics to make predictions about future events. For example, doctors use statistics to understand the future of the disease. They can predict the magnitude of the flue in each winter season through the use of data.

Engineers use statistics to estimate the success of their ongoing project, and they also use the data to evaluate how long it will take to complete a project.

2. Quality testing

Quality testing is another important use of statistics in every area of life. On a day-to-day basis, we conduct quality tests to ensure that our purchase is correct and get the best results from what we spend.

We do a sample test of what we expect to buy to get the best. If the sample test that we have done passes the quality test, we want to buy it.

3. Weather Forecasts

Have you ever seen weather forecasting? Do you know how the government does the weather forecasting? Statistics play a crucial role in weather forecasting.

The computer use in weather forecasting is based on the set of statistics functions. All these statistics function to compare the weather condition with the pre-recorded seasons and conditions. This helps the government.

4. Emergency Preparedness

Statistics is also helpful in emergency preparedness. With the help of statistics, we can predict any natural disaster that may happen shortly. It will help us to get prepared for an emergency. It also helps the rescue team to do the preparation to rescue the life of the people who are in danger.

5. Predicting Disease

Statistics is even playing a role in the medical field. Statistics help us to know how many numbers of people are suffering from the disease. It also helps us to understand how many have died from the same disease.

But the best part of statistics is that it also helps you to find out how much you affected from the deceased. For example, a study has shown that more than 75% of people are infected with a disease that is caused by mango. In that case, you might avoid mango to avoid this disease.

6. Political Campaigns

Statistics are crucial in a political campaign. Without statistics, no one can run a political campaign with perfection. It helps the politicians to have an idea about how many chances they have to win an election in a particular area.

Statistics also help the news channel to predict the winner of the election. It also helps the political parties to know how many candidates are in their support in a particular voting zone. In contrast, it helps the country to predict the future government.

7. Insurance

Insurance is a vast industry. There are hundreds of insurance i.e. car insurance, bike, life insurance, and many more. The premium of insurance is based on the statistics. Insurance companies use the statistics that are collected from various homeowners, drivers, vehicle registration office, and many more. They receive the data from all these resources and then decide the premium amount.

8. Consumer Goods

Statistics are widely used in consumer goods products. The reason is consumer goods are daily used products. The business use statistics to calculate which consumer goods are available in the store or not.

They also used stats to find out which store needs the consumer goods and when to ship the products. Even proper statistics decisions are helping the business to make massive revenue on consumer goods.

9. Financial Market

The financial market completely relies on the financial market. All the stock prices calculate with the help of statistics. It also helps the investor to take the decision of investment in the particular stock. It also helps the corporate to manage their finance to do long term business.

10. Sports

There is lots of uses of statistics in sports. Every sports require statistics to make the sport more effective. Statistics help the sport person to get the idea about his/her performance in the particular sports.

Nowadays sports are utilizing the statistics data into the next level. However the reason is a sport is getting more popular and there are various kinds of types of equipment in the sports that are used to collect data of various factor. Statistics is used to get a conclusion from the given data.

Career Scope of statistics of Statistics

Mathematician. Using existing and newly-developed principles, mathematicians can develop statistical models to analyze data.

Market Research Analyst.

Atmospheric Scientist/Meteorologist.

Statistician.

Operations Research Analyst.

Financial Analyst.

Conclusion

Now you may be aware of the uses of statistics in our daily life. It is nourishing our everyday life and helping us to make effective decisions.

If you are a statistics students and you need statistics homework help or statistics assignment help, then you can contact our experts for the help.

They will help you out in clear your doubts regarding statistics. And help you to make the best statistics assignment.

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