Use of Statistics
World of Sports
Enter results from the different tournaments around the world •
Research projects to improve the quality of the game and keep the fans interested •
provide analysis on players and team strategy, as well as tackle larger research projects •
statistical t tools include basic regression analysis, logistic regression, Monte Carlo simulation, classification, and hierarchical regression 2.
Statistics provides simple yet instant information on the matter it centers on. •
Statistical methods are useful tools in aiding researches and studies in different fields such as economics, social sciences, business, medicine and many others. •
Provides a vivid presentation of collected and organized data through the use of figures, charts, diagrams and graphs. •
Helps provide more critical analyses of information
in the sphere of physical science like physics, chemistry, botany etc. a large number of measurements are taken which are found to vary from actual results. Thus, to have an idea about the degree of accuracy maintained, statistical techniques are used together with the powerful tools of sampling, estimation, design of experiments etc. 4.
One must need to use statistics in psychology to document a behavioral reaction to a conditional stimuli and find a pattern or relation to a certain condition or stimulus. For example, one may need to use statistics to know if hot environments improve peoples focus on work by noticing trends in work completion in relation to heat. 5.
Statistics are used to measure and analyzed the findings and results from experiments and tests •
Presenting the findings statistically ensures they are easier to interpret and take away some important knowledge from the findings 6.
Business and Economics
Statistics play an important role in business. A successful businessman must be very quick and accurate in decision making. He knows that what...
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