We usually see statistics related examples are on the quiz or test, and they are asking us to calculate the result of the question. Why we are studying statistics? What is the role of statistics in real life?
1) Medical Study
Statistics are used behind all the medical study. Statistic help doctors keep track of where the baby should be in his/her mental development. Physician’s also use statistics to examine the effectiveness of treatments.
2) Weather Forecasts
Statistics are very important for observation, analysis and mathematical prediction models. Weather forecast models are built using statistics that compare prior weather conditions with current weather to forecast future weather conditions.
3) Survey Design
Statistic method can help the government or other institutions to collect data and analyze the data. It will help them for future decision making.
4) Stock Market
The stock market also uses statistical computer models for stock analysis. Stock analysts get the information about economy using statistics concepts.
5) Consumer Goods
Retailers keeps track of everything they sell and to know the stock using statistics. Worldwide leading retailers use statistics to calculate what products ship to each store and when.
Hi, I like your blog very much. The 5 uses of statistics you wrote are all very common. I hope you can keep sharing your blog in the future.
ReplyDeleteThank you for loving this blog. I have just started writing blogs, and I will share more in the future.
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