How do you apply statistics in real life situation?
Statistics can be used in real life to plan budgets, determine the best routes to travel, find the best prices for products bought and sold, and the best times to perform various daily activities..
What are the application of statistics?
Statistics is used in many sectors such as psychology, geology, sociology, weather forecasting, probability and much more.
The goal of statistics is to gain understanding from the data, it focuses on applications, and hence, it is distinctively considered as a mathematical science..
What are the four importance of statistics?
Importance of Statistics
It provides the exact description and a better understanding.
It helps in designing the effective and proper planning of the statistical inquiry in any field.
It gives valid inferences with the reliability measures about the population parameters from the sample data..
What is statistic data in statistics?
Data are individual pieces of factual information recorded and used for the purpose of analysis.
It is the raw information from which statistics are created.
Statistics are the results of data analysis - its interpretation and presentation..
- Data are individual pieces of factual information recorded and used for the purpose of analysis.
It is the raw information from which statistics are created.
Statistics are the results of data analysis - its interpretation and presentation. - Importance of Statistics
It provides the exact description and a better understanding.
It helps in designing the effective and proper planning of the statistical inquiry in any field.
It gives valid inferences with the reliability measures about the population parameters from the sample data.
